DUBAI, 18 March 2007 — Dubai Bank has launched Markaba Auto Finance and Souk Goods Finance, two Shariah-compliant products designed to facilitate the purchase of automobiles and goods in the UAE. The products are the newest additions to the existing product range which was officially launched in the first week of March 2007. Adnan Chilwan, head of marketing & product development said: “With Markaba auto financing and Souk goods financing, customers can benefit from taking immediate possession of cars, goods, consumer equipment, electronics, furniture and other basic necessities of their choice while spreading their capital expenditure over a period of time.”
Air Arabia’s IPO Opens Today
SHARJAH, 18 March 2007 — Air Arabia’s 10-day AED 2.5 billion initial public offering (IPO) opens today. The IPO is the largest offering in UAE history to date and will be open to both UAE and non-UAE nationals, including individual and institutional investors. The IP consists of 2,566,700,000 shares, representing 55 percent of the company’s share capital, at an offer price of AED1 each, in addition to AED0.02 in offering costs. SHUAA Capital is the lead manager, financial adviser and bookrunner for the IPO. The National Bank of Abu Dhabi has been appointed as the lead receiving bank. Investors will be able to subscribe at receiving banks.
MECSC Annual Convention Set
DUBAI, 18 March 2007 — The 2007 Middle East Council of Shopping Centers (MECSC) Annual Convention will open tomorrow at the Dubai International Convention & Exhibition Center, Hall 4. It will draw over 300 delegates and more than 40 retail real estate exhibitors from the region and worldwide. It will focus on retail real estate industry with the theme “Middle East Shopping Centers Come of Age.”