Reef – Real Estate Finance Company, which was recently recognized as the ‘Best Finance House in Bahrain 2006’ in the Islamic Real Estate Finance (IREF) awards ceremony, today signed a memorandum of understanding with The Developers WLL; the owners of Fontana Towers. Marketing and Sales of the apartments for the projects is being handled directly by Landmark Bahrain. Present at the signing were Dr Khalid Abdulla, CEO of Reef; A.Nasser A.Rahman, Chief of Business at Reef; Amin Al Arrayed, Reef’s Head of Retail & Placement; Mohammed Younis, Director of Landmark; and A.Nabi Al Maa, Abdul Gaffar Kooheji, Arif Sadiq, Enayat Jabri, Yasser Arif Sadiq, George Photiou, Project Director Sandeep Chitre and other executives from The Developers.

Fontana Towers, a US$ 130 million waterfront residential tower in Juffair, will feature 400 sky villas / apartments along with four luxury duplex penthouses, in four interconnected towers. The freehold apartments are luxuriously equipped and range from studios, to one, two, and three bedrooms. Among the host of amenities are an exclusive wellness centre for women, with a wellequipped and modern gymnasium, and indoor and outdoor swimming pools. The four state-ofthe-art duplex penthouses will further house individual swimming pools and exclusive elevator. Fontana Towers also offer 600 covered car parking spaces and business centre..

On the occasion of the signing, Mr. A.Nabi Al Maa commented, “As an end-user financier, Reef has differentiated itself in the market, and was accordingly our first choice for end-user financing. In addition to their competitive finance terms, Reef provides our prospective clients with dedicated advisors to guide them through the financial planning process, providing information and assistance that ensures the final financing option is one that meets our clients’ needs.”

From his end Dr Khalid noted,” We are very pleased to have been chosen as end-user financiers for Fontanat Towers. The Reef brand and business strategy has been built on the grounds of developing strategic alliances and partnerships that ultimately translate into more options and solutions for clients. Today’s signing with The Developers Co.WLL extends our commitment to end-user finance to forthcoming clients of Fontana Towers.”

Construction of Fontana Towers will commence and completion is expected within 30 months.