Tamouh Investments was able to secure a financing deal of AED 600 million with Abu Dhabi Islamic Bank (ADIB) and Abu Dhabi Commercial Bank (ADCB).
The financing agreement is for bailing Tamouh’s new project Horizon Towers to take place on Reem Island.
The banks will finance the final phase of Horizon Towers project which includes the construction of two towers. The towers will contain a variety of units with different spaces ranging from one to three bedroom apartments.
The Horizon Towers project was first launched in CItyscap Abu Dhabi and it’s expected to be completed by 2017 Q1.
The plans of Horizon Towers project is set to sprawl on 144 acres featuring 60 towers involving 8 commercial towers and 52 residential towers to accommodate 27,000 residents.