20 Dec 2011
(MENAFN) Emaar Properties signed a USD1 billion loan, backed by its flagship Dubai Mall, Arabian Business reported.
Emaar will use the loan to repay existing USD300 million facility taken out in 2010, the company said.
The two-tranche facility, which carries a margin of 350 basis points, spans both Islamic and conventional funding, and is split between a five-year tranche and an eight-year amortising loan.
Emaar was hit by the downturn and Dubai’s realty market collapse in 2008, but managed to avoided debt restructuring.
In November, Chairman Mohamed Alabbar said Emaar was negotiating with UAE emirates about affordable housing schemes and plans to concentrate on Dubai first.
27 Jan 2025
BBK offers customers with exclusive Tas’heel and Mazaya Finance to own their dream home
15 Jan 2025
BBK Signs Strategic Partnership with Bahrain Airport Company to Develop “Express Cargo Village”
08 Jan 2025
Bank of Bahrain and Kuwait and Global Payment Services Deliver the First Advanced Fraud Prevention Solution for Wallet Provisioning in the Kingdom of Bahrain
26 Dec 2024
BBK proudly supports “Celebrate Bahrain” as a gold sponsor in cooperation with BTEA
17 Nov 2024
BBK and Asia Jewellers announce exclusive offers to its customers at Jewellery Arabia 2024
12 Nov 2024
BBK partners with Durrat Al Bahrain to offer exclusive financing for Jawhart Al Marjan
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