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Dubai's Tamweel says fire at Its tower contained

Published: 18/11/2012 05:26:21 PM GMT
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Sunday, Nov 18, 2012 DUBAI ( Dow Jones)-- Tamweel , an Islamic mortgage finance company based in Dubai, said a fire in the early h (more)

Sunday, Nov 18, 2012

DUBAI ( Dow Jones)-- Tamweel , an Islamic mortgage finance company based in Dubai, said a fire in the early hours of Sunday at its Tamweel Tower had been contained and the company was operating from its offices in Deira under a business continuity plan.

Tamweel was "wholly focused" on the safety of its staff and residents of the building, located in Dubai's Jumeirah Lakes Towers area, acting chief executive Varun Sood said in a letter posted on the Dubai bourse website. Youtube videos showed the top of the 34-story building engulfed in flames late Saturday night.

Tamweel shares last traded down 2.4% at AED1.24 in a slightly lower overall market.

Write to Asa Fitch at asa.fitch@dowjones.com

Copyright (c) 2012 Dow Jones & Co.

(END) Dow Jones Newswires

18-11-12 0707GMT




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