Emaar Properties, Dubai Properties eye AED4bn loan – Reuters

Dubai – Mubasher: Emaar Properties is negotiating with banks to receive loan in collaboration with Dubai Properties, some informed sources told Reuters.

Both companies are holding bilateral talks with individual banks to obtain financing package, which was estimated by some sources at about AED 4 billion ($1.01 billion), Reuters reported.

“The money would back projects including a shopping mall and a tower, as Emaar embarks on new developments despite sluggish property prices in Dubai,” the international news agency remarked.

Reuters unveiled that Emaar and Dubai Properties, Dubai Holding’s unit, had refused to comment on the matter. 

Mubasher Contribution Time: 07-Dec-2017 14:25 (GMT)
Mubasher Last Update Time: 07-Dec-2017 14:31 (GMT)

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