(MENAFN- Mid-East Info) Collaboration underscores the bank's commitment to offering innovative solutions to support customers and the UAE's thriving real estate sector
Dubai, UAE, September 2025: GJ Properties and Emirates Islamic, one of the leading Islamic financial institutions in the UAE, have announced a strategic partnership to facilitate project financing and escrow services for The Biltmore Residences – Al Sufouh in Dubai, a luxury residential project development inspired by the iconic Biltmore Hotel in Los Angeles.
Emirates Islamic's escrow services will ensure secure and transparent financial transactions, regulating cash flows to align with the project's timeline. This collaboration underscores the critical role of advanced, regulated financial systems in Dubai's luxury real estate market, especially for elite and international buyers. Supported by Emirates Islamic's advanced digital banking solutions, the escrow management services will enhance investor confidence and streamline project financing, reinforcing Dubai's position as an emerging luxury real estate hub.
Mr. Ali Ghaleb Jaber, CEO – GJ Properties, said:“We extend our sincere appreciation to Emirates Islamic for their unwavering support and exceptional partnership. I can confidently say that Emirates Islamic has been more than a financial institution, they have been a trusted strategic partner in our journey of growth and development.”
He added:“Their belief in our vision, their responsiveness and commitment to excellence have played an instrumental role in the success of our projects across the UAE. Emirates Islamic's forward-thinking approach and innovative financial solutions reflect the caliber of a truly leading financial institution, one that is dedicated to empowering businesses and contributing to the country's economic landscape.”
“We deeply value this partnership and look forward to strengthening it further as we embark on new developments and future opportunities. Together, we aim to create greater value and continue achieving milestones that define progress and innovation in the real estate and hospitality sectors.” Mr. Ali concluded.
Mohammad Kamran Wajid, Deputy Chief Executive Officer at Emirates Islamic, said:“Emirates Islamic is proud to announce the new partnership with GJ Properties to provide secure and transparent escrow account services and project financing for the upcoming Biltmore Residence. This partnership will ensure account management and allocation of funds at construction milestones; ultimately this will help enhance investor confidence and promote efficiency across diverse projects and transactions.”
He added:“Emirates Islamic has consistently played an active role in supporting the growth and development of the real estate sector in the UAE. The bank will continue to deliver customer-centric financial products, aligning with our vision to be the most innovative Shari'ah-compliant bank for our customers, people and communities.”
The Biltmore Residences Al Sufouh presents a compelling investment opportunity, blending luxury living with promising returns and is designed for elite investors and residents. Expanding on its success in Ajman, GJ Properties Investments launched Biltmore Residences Al Sufouh in Dubai, a premium project by the distinguished Biltmore brand. Located in the heart of Dubai, the 44-story tower will feature 448 units and world-class amenities. This luxury development provides panoramic views of Dubai's landmarks, including the Arabian Gulf and Burj Al Arab. Currently, the project is over 70% complete and set for handover by early 2026. Biltmore Residences Al Sufouh offers a range of one- and two-bedroom apartments along with a luxurious penthouse featuring modern finishes and spacious interiors.
About GJ Properties:
For over a decade, GJ Properties has shaped the landscape of Ajman and the Northern Emirates, delivering exceptional projects that stand as icons of refined living. Renowned for creating high-quality residential spaces, GJ Properties consistently upholds the highest industry standards. Our developments embody a commitment to excellence, ensuring
a lifestyle that reflects both elegance and enduring value. With over 25 projects under construction GJ Properties foster lasting partnerships with the best in the business, meticulously designing each project to maximize return on investment. Every home is crafted to offer residents assurance and comfort, reflecting their unique aspirations and achievements.
About Emirates Islamic:
Emirates Islamic (DFM: EIB), part of Emirates NBD Group, is a leading Islamic financial institution in the UAE. Established in 2004 as Emirates Islamic Bank, the bank has established itself as a major player in the highly competitive financial services sector in the UAE.
Emirates Islamic offers a comprehensive range of Shariah-compliant products and services across the Personal, Business and Corporate banking spectrum with a network of 40 branches and 229 ATMs/CDMs across the UAE. In the fast-growing area of online and mobile banking, the bank is an innovator, being the first Islamic bank in the UAE to launch a mobile banking app and offer Apple Pay, as well as being the first Islamic bank in the world to launch Chat Banking services for customers via WhatsApp.
Emirates Islamic has consistently received local and international awards, in recognition of its strong record of performance and innovation in banking. Emirates Islamic was recognized as 'Best Overall Islamic Bank' and 'Most Innovative Islamic Bank' at the Islamic Finance News Awards 2024. The Bank was also named the 'Most Innovative Islamic Bank' at the prestigious Euromoney Islamic Finance Awards 2024.
As part of its commitment to the UAE community, the Emirates Islamic Charity Fund provides financial aid to those in need, with a focus on food, shelter, health, education and social welfare contributions.
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