Ajman Bank and Al Zorah Development Company, a joint venture between the Ajman Government and Solidere International, have signed a Memorandum of Understanding (MoU) to enhance access to Sharia-compliant property financing for Al Zorah City’s residential projects.
The partnership embodies a shared vision to promote sustainable urban growth in Ajman by integrating structured, Sharia-compliant financing into thoughtfully designed residential communities.
Through this collaboration, eligible buyers will have access to tailored financing solutions for both completed and off-plan properties, fully aligned with the Central Bank of the UAE (CBUAE) regulations.
As Ajman strengthens its position as a destination for quality living and long-term investment, Al Zorah City continues to lead the emirate’s real estate transformation. The collaboration reinforces both institutions’ commitment to responsible homeownership while upholding robust risk management and governance standards.
The agreement also aims to streamline the homeownership journey by aligning financial solutions with master-planned community development, making the path from property selection to ownership more seamless, transparent, and accessible.
The MoU underscores both organizations’ commitment to long-term resilience, customer-focused innovation, and the sustainable growth of Ajman’s real estate sector within a strong regulatory framework.
Mustafa Al Khalfawi CEO – Ajman Bank
“Our collaboration with Al Zorah reflects Ajman Bank’s commitment to supporting the Emirate’s real estate ecosystem through structured, Sharia-compliant financing solutions. By extending financing across ready and off-plan developments, we are enhancing accessibility while maintaining full alignment with regulatory standards and prudent risk frameworks. Partnerships of this nature enable us to contribute meaningfully to sustainable growth, strengthen customer confidence, and deliver long-term value within the UAE’s evolving property landscape.”
George Saad, Chief Executive Officer of Al Zorah Development Company, commented that, “This collaboration strengthens the overall value proposition of Al Zorah’s developments by providing customers with direct access to structured and reliable financing solutions. As demand for integrated, high-quality communities continues to grow, partnerships such as this play an important role in delivering a cohesive and elevated ownership experience”.
