Aldar Properties, the leading integrated property, investment, and management company today announced a strategic tie up with Barclays Bank Plc, UAE to provide mortgage solutions for Aldar's Al-Raha Beach projects. This is the first deal for Aldar involving a foreign bank and Barclays is the first foreign bank to offer mortgage solutions to the Abu Dhabi market through its branch offices in the UAE. The changing regulations regarding ownership laws by the government of Abu Dhabi allowing foreigners to own property, was a turning point in the real estate market for the emirate. The rapidly growing economy and real estate industry in Abu Dhabi led to the emergence of foreign investment into the market. The market opened for foreign banks to realize opportunity in this dynamic economy. The agreement “is part of Aldar's strategy to form alliances with reputable international companies that share our customer-driven business approach and commitment to quality. Aldar's projects are built, designed, and intended for a diverse audience,” said Ronald Stephen Barrott, CEO, Aldar Properties. Barclays will offer mortgage solutions to Aldar's developments on Al-Raha Beach, dubbed the ultimate waterfront city, consisting of 11 precincts each with its own character and appeal. __
