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FINANCIAL NEWS
Dubai developers issue USD143mn for new mall
05 Jul 2017
(MENAFN) The developer of Cityland Mall in Dubai has raised USD143mn from banks in order to part-finance the Dh1.2bn development.
Moreover, Kuwait’s Burgan Bank subscribed to two-thirds of the debt issued, while Emirates NBD acted as lead manager.
Additionally, construction of the mall, made as a single-storey circular structure and will make 1.8mn square feet area, is progressing.
It is fairly easy access to Arabian Ranches, Falcon City, some of the Dubailand components and other upcoming communities, the mall will serve a 200.000 resident base amid 10-15km radius.
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MENAFN0507201700450000ID1095600211
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