Finance House (FH) has announced the signing of a medium term loan to fund the expansion of Oscar Cinema at the new extension of Al Wahda Mall in Abu Dhabi.
The new cinema will entail a nine-screen complex with a capacity of 1,500 seats in a state-of-the-art compound that is expected to be a leading cinema complex in Abu Dhabi, fulfilling the multi-cultural high demand of movie entertainment in the capital.
Commenting on the new co-operation, Tariq Ajaz Head of Corporate and Commercial Finance at Finance House, said: “Since inception Finance House has been focusing on creating innovative product propositions that offer great value and outstanding features to our corporate clients, enhancing our investment philosophy by partnering with companies that have great potential, and aiming at the same time for building long-term relations with our clients”.
“Our co-operation with Oscar Cinema will bring added value to our business portfolio, and further diversify the business sectors that we are involved in. We are sure that this expansion in Al Wahda Mall, that is considered one of the leading malls in the city, will serve the strategic expansion of Oscar Cinema in Abu Dhabi . We are confident that this cooperation will be a fruitful and remarkable one for both parties”, concluded Ajaz.
M M Kabeer, MD of Oscar Cinema said: “The proposed alliance with Finance House will help Oscar Cinema to establish its flagship Al Wahda Mall cinema complex delivering entertainment of high standards to the residents of Abu Dhabi. This association will also support us in our future expansion plans in the UAE”.
Al Wahda Mall is one of the leading malls in Abu Dhabi, it is located in the strategic heart of the city, and has one of the most visible landmarks. It is managed by EMKE group, where the extension is expected to double the mall capacity and visitor footfalls.
Earlier this year, Finance House has been awarded at the Banker Middle East Industry Awards 2012 as Best Business Finance Company in the Middle East, and retained the Best Retail Finance Company in the Middle East for the second consecutive year, and through its branches in Abu Dhabi, Dubai and Sharjah, FH offers to its customers a wide _ range of Business products that include Commercial finance, Corporate finance, labour guarantees, and payroll distribution solutions.