Business | Property
Adnif arranges Dh334m for SinoGulf project
Tower in Capital Centre is designed to cater to international and local blue-chip companies.
- Staff Report
- Published: 23:31 January 12, 2009
Dubai: Abu Dhabi National Islamic Finance (Adnif), the Islamic banking division of National Bank of Abu Dhabi (NBAD), recently arranged an Dh334 million facility for SinoGulf Investments' commercial tower project in Capital Centre.
C.18 is the largest plot within the Capital Centre development designated for commercial and retail use. The project commenced in Q1-2008 and shall be completed in Q4-2010.
Positioned as a Grade A product with 4 levels of basement parking, 2 levels of podium parking and 12 lifts for a 25 storey building, the tower is designed to cater to international and local blue-chip companies.
"Adnif has grown significantly over the past 18 months under the NBAD umbrella. We strive to get the best quality assets under our portfolio and we screen our proposals by thorough due diligence. SinoGulf's Capital Centre project comes across as a sound business case - it provides the right product at the right time and, most importantly, with the right team," said Moawia El Amin, Head of Corporate & Commercial Division at Adnif.
"The Adnif team asked the right questions while inspecting our proposal and we were delighted to find out that our conservative approach was in line with Adnif's risk management strategy," said Andrew Clout.
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