Amlak enters Qatari mortgage market

31 December 2007
UAE-based home finance company Amlak Finance has signed a deal with Qatar’s Barwa Real Estate as part of its plans to enter the Qatar real estate market and expand throughout the region.

The deal involves the creation of a new joint venture company called Amlak Barwa Finance, which will offer Islamic finance products to homebuyers in Qatar. The two firms did not reveal how much each would own of Amlak Barwa Finance.

Amlak has also recently launched in Egypt and Saudi Arabia, through its Amlak International business. It also plans to raise about $1.3bn in 2008, which could include selling shares in a Jordanian affiliate, to fund expansion plans. Amlak is also planning to enter the Bahraini home finance market.

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