Al Mazaya has announced a strategic partnership with Tamweel and Tamweel's CEO, Adel Al-Shirawi, anticipates a better future

Al Mazaya has announced a strategic partnership with Tamweel and Tamweel's CEO, Adel Al-Shirawi, anticipates a better future

Tamweel, a leading provider of residential finance services, has entered into a strategic agreement with Mazaya Real Estate Development Company to start the second phase of the residential real estate project on the Emirates Road in the United Arab Emirates.

Adel Al Shirawi, Tamweel's chief executive officer, said the partnership with Al Mazaya Real Estate Development would provide potential buyers with a flexible financing program to transform the dream of owning a home into reality.

Mazaya Holding CEO Khalid Esbaitah said in a press release that the launch of the second phase of the villa project in Kuwait has raised its total investment in the UAE to AED 3.5 billion.

And said that under the new partnership, the buyer could pay only 10 per cent as a down payment on the payment of the remaining installments under a flexible payment plan through Tamweel over a period of 25 years.

Esbaitah added that the villa project includes a five-bedroom villa designed in an elegant manner and the project is located in a high-quality, carefully designed area to elevate it to the highest standards.

Al Mazaya Real Estate Development Company is one of the Kuwaiti holding companies operating in the field of real estate development, with a capital of KD 30 million, equivalent to approximately USD 100 million.