What is the meaning of Mada’in?
Mada’in, in Arabic, means Cities.
Who is Mada’in Properties PJSC?
Mada’in Properties PJSC is a UAE based real estate development company with headquarters in Dubai. It was founded by prominent investors from UAE and other GCC countries. Our shareholders include different Sharia compliant banks, investments banks, public joint stock companies, government organisations and semi government organisations and prominent individuals.
As a Sharia compliant developer, what impact does this have on me as a buyer?
Sharia is the body of Islamic Law which is derived from The Quran and the Sunna’h. The group abides by the principals of Sharia across all its activities. The Sharia’s guidelines to the group are provided by its Sharia’s supervisory board constituted to manage its activities. Earning interest (riba) is not allowed – whether you are an individual or a bank. To comply with these rules, interest is not paid on Islamic savings or current accounts or charged on Islamic mortgages. Any penalties that are charged by the developer are not kept by the company but donated to charity. Any economic transaction should take place within a fair, responsible free-market economy.
When was the company formed?
The company was established late 2006.
What is Mada’in Properties PJSC’s vision?
Our vision at Mada’in Properties PJSC is to be a world-class boutique property developer.
What do Mada’in Properties PJSC develop?
Currently, Mada’in Properties PJSC has developed a residential tower, Marina Arcade, which is located in Dubai Marina. Phase 2 is now under construction in the same location. Our future plans include developing more residential, as well as retail projects across Dubai.
What’s Mada’in Properties PJSC’s authorised share capital and paid up capital?