Tamweel Tower goes on sale
Tamweel, the UAE home finance group, is to develop Tamweel Tower as its new head office within the Jumeirah Lakes Towers. There will also be 145 apartments for sale on 34 floors from today. Completion will be in 24 months. Prices start at USD177 per sqft for two bedroom apartments.
DUBAI - Tamweel, a leading home finance company, has announced the development of the Tamweel Tower, the company's new head office on Shaikh Zayed Road within the prominent Jumeirah Lake Towers project.
The 34-floor tower is scheduled for completion within next 24 months. Adel Al Shirawi. CEO of Tamweel, said: “Our explosive growth has prompted us to make the decision to move our headquarters into a new office building to accommodate all operational, technical and back office needs. At the same time, we would like to offer our customers prominent residential space in the building.”
The Tamweel Tower will consist of 145 luxurious apartments (excluding penthouses) with 419 parking spaces, along with retail shops on the ground floor. Residents will have separate elevators for access to the apartments. Panoramic views from the Tower will span the magnificent Jumeirah Lake, the Emirates Golf Club and The Palm Jumeirah.
The property is targeted at corporate customers. Master planned by Nakheel, the property will be sold by Tamweel and other approved real estate agents.
“The development of this new project does not imply any shift in our strategy. Tamweel is primarily a home financing company and we will continue to focus on mortgage activities,” Al Shirawi said.
While the company has been offering Sharia compliant pre-approved financing for customers, in the Tamweel tower it will offer guaranteed financing up to 90 per cent of the value of the property in compliance with Sharia requirements, “Tamweel will provide a value-added guaranteed financing package, through which our customers can avail themselves of a home. all in one stop through our company. This is a novel concept for Dubai, and we are pleased to be the first company to offer this superior service,’ Shirawi added.
Tamweel has already opened booking for Properties in Tamweel tower. The prices start from Dh650 per square foot for 2 bedroom apartments. Also available are 3 bedroom apartments and 5 bedroom penthouses. Each apartment will be allotted a minimum of two parking spaces, a unique feature in Dubai.
'Tamweel Tower', the new head office of Tamweel – the UAE's most trusted source for home finance, has witnessed a phenomenal response with entire tower selling out in just two days. The tower went on sale on November 28, 2004.
Commenting on this overwhelming response, Mr. Adel Al Shirawi, CEO of Tamweel said, 'The immense response is indicative of the market trust in TAMWEEL on one side and on the other side, a healthy demand in the real estate sector. We have decided to move our base to the Tamweel Tower in order to be able to service the ever-expanding demand and our operational growth. This reflects the trust that our customers and potential homeowners repose in the Tamweel brand. And with more innovative offerings, Tamweel reiterates its commitment to providing value-added products and services to its customers. '
Tamweel has financed 80% of the apartments sold in the Tamweel Tower and an increasing number of customers are expected to opt for financing with the nearing of the second installment.
At Tamweel every move and product is very carefully studied and timed, while focused in the core financing business. Hence, most of the Tower was converted to our finance book indicating the innovation and focus by the Tamweel team.
The Tamweel Tower, situated in the Jumeirah Lake Towers project, is master-planned by Nakheel and consists of 145 luxurious apartments (excluding penthouses) on 34 floors, with 419 parking spaces, along with retails shops on the ground floor. Residents will have separate elevator access to the apartments. Panoramic views from the tower will span the magnificent Jumeirah Lake, the Emirates Golf Club and the Palm Jumeirah.
A forum community dedicated to skyscrapers, towers, highrises, construction, and city planning enthusiasts. Come join the discussion about structures, styles, reviews, scale, transportation, skylines, architecture, and more!