Union Construction and Investment Company and Bank of Palestine sign a joint cooperation agreement to finance the purchase of land and housing units
5 | 12 | 2019
Ramallah –Union Construction and Investment Company signed a partnership and cooperation agreement with Bank of Palestine with an aim to provide all possible incentives and facilitations and diversify funding options for individuals wishing to buy lands and housing units as part of the Tabo and Al Masyoun Gardens projects. The agreement was signed between Engineer Khaled Al Sabawi, the Executive Director and Vice Chairman of Union Construction and Investment Company Board, and Mr. Rushdi Ghalayini, the General Director of Bank of Palestine.
Engineer Khaled Al Sabawi, the Executive Director and Vice Chairman of Union Construction and Investment Company Board, expressed pride in the partnership with Bank of Palestine, and commended the bank’s unique customer base and its provision of leading banking products and services that support comprehensive economic development. “The bank’s contribution to facilitate the purchase of lands and housing units assists in encouraging Palestinians to stay in the country,” stated Al Sabawi.
Al Sabawi stressed the importance of cooperation with Bank of Palestine considering the special attention provided by Union Construction and Investment Company’s to its clients, and providing them appropriate funding options that correspond with their financial capabilities. The company also strives to expand its clientele base by targeting those who prefer to complete the financing of their lands and housing units through banks. “This is the facilitation provided through this agreement,” according to Al Sabawi, “whereby both partners strive to provide all the support and facilitations for people who wish to become owners in the Tabo and Al Masyoun Gardens projects,” he added.
“At Union Construction and Investment Company, we continuously strive to draw a new face for architecture in Palestine and provide our clients all the facilitations that contribute to improving their life,” stated Al Sabawi. “We did not hesitate for a second to enter into this partnership with Bank of Palestine and allow our clients to become owners in the Tabo and Al Masyoun Gardens projects, which allow Palestinians in Palestine and abroad to own affordable legal and properly registered lands that receive all the necessary infrastructure,” he added. According to Al Sabawi, the Tabo project plays an important role in assisting Palestinians in protecting their lands from settlement expansion, while Al Masyoun Gardens project allows them to own housing units that were built in accordance with the highest international standards. “Al Masyoun Gardens project includes 100 model housing units designed for Palestinian citizens,” stated Al Sabawi.
Mr. Rushdi Ghalayini, the General Director of Bank of Palestine, expressed pride in the bank’s partnership with Union Construction and Investment Company, pointing out that the agreement will “facilitate the financing plan for real estate buyers, forming part of the bank’s efforts in serving customers, responding to their funding and banking needs, and fulfilling their hopes and dreams.”
It is important to mention that Union Construction and Investment Company is one of the leading investment and real estate development companies in Palestine. It was established in 2005 by a group of experienced Palestinian and Arab businessmen, supported by investment companies in the Arab World, and since then, the company sought to change the culture of commercial and housing development in Palestine.
Union Construction and Investment Company constructed several buildings that are considered major landmarks in Palestine, among them the Union Construction and Investment Company building, the first environmentally friendly building in the area, located in Al Masyoun area in Ramallah. The company also established the Arcadia housing complexes, and Al Itihad Villa project, the first individual housing complex in Palestine, in addition to the Tabo project and Al Masyoun Gardens projects in Al Masyoun area in Ramallah.