Amlak Finance Clarifies Ras Al Khor Land Sale Value
Amlak Finance P.J.S.C addresses discrepancies in reported values for the sale of Ras Al Khor plots, clarifying their AED 2.9 billion agreement.
Summary
Amlak Finance clarifies the discrepancy in the reported sale value of Ras Al Khor plots, confirming an agreed price of AED 2.9 billion, with additional fees paid by the buyer.
Amlak Finance P.J.S.C, a leading finance company in the United Arab Emirates, recently issued a clarification regarding the reported value of its sale of plots in Ras Al Khor. The announcement was made in response to news articles citing a report by Knight Frank, which suggested that the total sale value exceeded AED 3 billion. Amlak Finance clarified that the actual agreed and executed sale price was AED 2.9 billion, with the higher reported figure including estimated registration fees borne by the buyer and paid directly to the Dubai Land Department.
This clarification underscores Amlak's commitment to transparency and accuracy in its financial disclosures, a critical aspect for maintaining investor trust and confidence. The company's proactive approach in addressing the discrepancy highlights its robust corporate governance practices, a reassuring factor for current and potential investors.
The sale of these plots is a significant transaction for Amlak Finance, reflecting its strategic positioning in the real estate sector and its ability to execute high-value deals. The transaction not only bolsters Amlak's financial standing but also enhances its reputation as a key player in the UAE's real estate financing market.
Given the clarity provided by Amlak Finance and the strategic importance of the Ras Al Khor sale, investors might consider this an opportune moment to assess their positions in the company. The successful execution of such a substantial transaction indicates Amlak's strong operational capabilities and potential for future growth.
While the overall real estate market in the UAE continues to show resilience and growth potential, Amlak's focus on Islamic financing principles, such as Ijara, Murabaha, Mudaraba, and Musharaka, positions it uniquely to capture market share in a niche segment. This focus not only aligns with regional financial practices but also appeals to a broad base of customers seeking Sharia-compliant financial solutions.
Considering these factors, the recommendation for investors would be to buy. Amlak Finance's strategic moves and solid governance framework signal promising prospects for sustained growth and value creation.
Source
Summary
The letter, dated August 7, 2025, is addressed to Mr. Hamed Ahmed Ali, the CEO of the Dubai Financial Market. It clarifies a discrepancy in reported figures regarding the sale of plots in Ras Al Khor. News articles cited by Knight Frank mentioned a sale value exceeding AED 3 billion, but Amlak disclosed the agreed and executed sale price as AED 2.9 billion. The higher figure in the articles includes estimated registration fees, which were paid by the buyer directly to the Dubai Land Department. The letter is signed by Lama Takieddin, Head of Corporate Governance and Board Secretary, and is copied to the Securities & Commodities Authority.
