19 Dec 2010
(MENAFN) Al Jaber Group in Abu Dhabi said a statement that it is currently negotiating lenders for changing the company’s debt terms, reported Bloombrg.
The statement also said that the company was unable to secure enough work to cover its credit; especially that it currently has $4.4 billion in projects.
The statement said that Al Jaber will probably reach an arrangement with its lenders in the coming year. The group owes at least $1.1 billion in loans maturing over the next four years. It also owns assets worth more than $5 billion.
It is worth noting that other construction companies in the UAE have been struggling as payments were delayed when banks restricted giving loans for real-estate projects after the global financial crisis. To add to the problem, many buyers defaulted on purchases of properties sold before building began.
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more