Tamweel PJSC, the largest real estate finance provider in the UAE, announced today a reduction in its Base Rate by 50 basis points to 7.9% for all flexible rate products effective 01 March, 2010.

“This reduction is in line with our constant endeavor to maintain profit rates at a reasonable level. We have decided to review our Base Rate and reduce it by 50 Basis Points to 7.9% as per our pricing terms for flexible rate products effective March 1st, 2010. All our customers who have opted for flexible rate finance will benefit from a profit rate reduction,” said Varun Sood, CEO - Tamweel Home Finance Division.