Tamweel to Raise Funds for new Business

Tamweel plans to raise $500m
GulfNews - Dubai,United Arab Emirates

Dubai: Tamweel, the UAE's biggest mortgage provider, plans to raise as much as $500 million through Islamic asset-backed loans to fund new business, according to Chief Financial Officer Gaurav Agarwal. ...The Dubai-based company has benefited from a real-estate boom in the Gulf's second-biggest economy. ...The company's total funding requirement this year will be Dh3 billion to Dh3.5 billion as it plans to increase assets to Dh13.5 billion, Agarwal said.   ... according to Central Bank of the UAE data. Mortgage lenders in the region are in talks with regulators on ways to keep the real estate market from ...