Aldar in strategic tie-up with Barclays Bank

Aldar Properties yesterday announced a strategic tie up with Barclays Bank to provide mortgage solutions for its 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.

"Aldar is pleased to enter into this agreement with Barclays Bank. It is part of our 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. Bringing Barclays into our portfolio of banks to extend financial solutions demonstrates our keenness on placing the widest possible choice at the disposal of its valued customers both within the Abu Dhabi community and beyond," said Ronald Stephen Barrott, Chief Executive, Aldar Properties.

Barclays will offer mortgage solutions to Aldar's developments on Al Raha Beach, dubbed the ultimate waterfront city, consisting of eleven precincts each with its own distinct character and appeal. It will house to 120,000 residents.