Test Contracting Company (TCC), a subsidiary of Drake and Scull International, and Emirates Islamic Bank (EIB), have signed an agreement which could be worth up to Dh80 million ($21.7 million).

The signing, at EIB’s offices in Dubai Festival City, coincided with the announcement of TCC’s latest project for which EIB will be a major partner - the Park Corner development in Jumeirah Village South.

Park Corner is a G+4 residential development comprising of 52 luxury apartments including studios, one and two bedroom apartments and three bedroom lofts with their own private gardens. The complex will feature an indoor gym, common storage rooms, day care centre, a garden, and swimming pool, said an official spokesman.

EIB have signed with TCC to provide two separate services.

The first is to provide buyers with financing for Park Corner apartments; going up to 95 per cent for UAE residents and employees, and 70 per cent for off-shore buyers.

“This is the first of many TCC developments to come, and this initial agreement with the bank will give our customers the best opportunity to take advantage of what TCC and EIB can offer,” said general manager, TCC, Saleh Muredweij.

“All of the apartments in Park Corner have already been sold. With EIB coming onboard now, they’ll be offering finance to all those who have already paid the initial deposit, and those coming in for secondary purchases also,” he added.

“This signing is a strategic move to get us onboard with TCC’s future developments. We feel this contract signals the beginning and look forward to working closely with them on future projects,” said general manager, EIB, Faisal Aqil,

TCC currently has projects on in Dubai, Jordan, Morocco, and Qatar, and are looking to expand more into Saudi Arabia and Kuwait. – TradeArabia News Service