OREANDA-NEWS. On May 12, 2008 Joint Leasing (JL) has launched introduction of a new service on leasing of commercial real estate and thereby has expanded range of products it offers, reported the press-centre of International Bank of Azerbaijan.

The Company informs that conditions of programme of commercial real estate leasing, depending on a project, are as follows: period of up to 10 years, interest rate starting from 18% per annum and advance payment starting from 20%.

Taking into account rapid growth of business activity, demand for commercial real estate, parallel growth of lease payment and real estate prices in the country, this type of leasing is one of the most perspective and profitable forms of real estate purchase.

“The new product is intended to back entrepreneurs, especially small and medium-size enterprises in solution of issues of real estate purchase. Resources of the country’s largest leasing company allow to offer for its clients the most competitive, flexible and attractive conditions on real estate purchase.

Joint Leasing consider this segment of the market as one of the most prospective directions and that is why we are going to take an active part in it,” JL general director Elchin Ahmadov said.

Some months ago JL began leasing of motor transport. At present in collaboration with large distributors of world-known automobile brands the Company is developing special motor leasing projects. In the future JL intends to expand its portfolio with diversification on various sectors of economy.

Today JL portfolio covers such industries as construction, transport, manufacturing and processing industry, public care, agriculture, banking sector.

As of January 1, 2008, JL leasing portfolio totaled \\$60 million. Maximum interest rate depending on a product makes up to 18-20% for period of up to three years with advance payments of 20-25%.

The JL founder shareholders are UK’s Dolphin Leasing (52.3%) and the International Bank of Azerbaijan. Until June 2007 the Company operated under the name of AzeriLeasing that was founded in 1999 and replaced its name after changes in its shareholder ranks.