Union National Bank (UNB), one of the leading banks in the UAE, has concluded the financing arrangement for Dhs600 Million, for the development of National Investment Corporation’s (NIC) Marina Sunset Bay Project at the scenic Marina Break-Water Area (behind Marina Mall) in Abu Dhabi. The financing agreement was recently signed between UNB and NIC in Abu Dhabi.
The project envisaging construction of 67-luxurious Villas and 210 Apartments is an extension of the existing high end villas developed by National Investment Corporation in the same area. The project is expected to be completed in 2016.
Commenting on the project, Mr. Mohammad Nasr Abdeen, UNB Chief Executive Officer, said “UNB has always been supporting the development of such key projects in Abu Dhabi and will continue to support all such future initiatives. UNB had earlier partnered with NIC for the development of the iconic Marina Mall in Abu Dhabi and is very proud to be part of the Marina Sunset Bay Project”.
Mr. Abdulla Ali Al Saadi, Managing Director of NIC mentioned that “NIC has played an important role in development of the whole area including the high-end residential villas and the iconic Marina Mall. The new development will provide further opportunities for the UAE Nationals to buy properties at such a prime location” He also appreciated the continued support of UNB for its development projects in the area.
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Corporate Communications Manager – UNB