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| Amlak Finance |
Amlak, an established Islamic financier in the UAE intends to float a refinancing scheme to ensure property owners additional liquidity to plough back into the sector. According to Shahli Akram, Deputy CEO, Amlak Finance, the move would help property owners take advantage of the current boom in prices and reinvest the extra liquidity into the market.
Addressing a networking session hosted by Amlak Finance for the Indian Business Professional Council (IBPC) at Shangrila Hotel in Dubai on May 17, Akram cautioned that with Dubai’s property sector entering the end-user cycle as the role of speculators waning, it would be more comfortable to invest in commercial units, a sector where supply is not meeting the demand.
“Rules and regulations are bound to get clearer as new amendments would be released in phased manner to ensure higher comfort levels to non-national investors,” he stated. In addition to real estate loans, Amlak offers working capital, project, trade and asset financing. Amlak recently launched its investment product, Amlak First Real Estate Fund, which is close-ended fund with fixed capital of $75 million.
(Source: Khaleej Times)
