The Emirates Financial Towers (EFT) has signed an agreement with Emirates Bank, an Emirates NBD company, to provide Dh285 million (77.6 million) worth of credit facilities, to finance the construction of its venture based in the Dubai International Financial Centre (DIFC).

The signing ceremony was attended by CEO of EFT Dr Hani Abu Auida who signed the agreement with head of corporate banking at Emirates Bank Majid Al Yousuf.

The Emirates Financial Towers is a twin tower development consisting of 26 floors of Grade-A office space, retail offices, and residential units, with building costs reaching around Dh600 million.

This move comes in line with the EFT’s enthusiasm to provide the most appropriate means to guarantee the uninterrupted progress in the construction of the widely anticipated project, in order to meet its deadline, said an official spokesman.

For this end, EFT has signed a series of agreements for the main contracting, equipment, maintenance, the providing of mortgage services to clients, and project management.

“Our strategic quality partnership with Emirates Bank will pave the way for long term relations as well as helping to implement our mutual vision in the development of these innovative and spectacular towers. We had chosen Emirates bank due to their outstanding banking and financial services they offer,” said Abu Auida.

“We are confident that the facilities provided by Emirates Bank will bear good fruit as we will, God Willing, enjoy the visual magic of these two eye catching towers situated in a prime location within Dubai's future financial center,” said Al Yousuf. – TradeArabia News Service