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FINANCIAL NEWS
Dubai’s Palm Jumeirah Hotel secures $115m loan
07 Dec 2010
(MENAFN) Joe Sita, President of IFA Hotel Investments, which oversees successful mixed-use developments including the Fairmont Palm, revealed that it has secured a finance deal from a bank, valued at $115 million, to complete its Palm Jumeirah Hotel project, Arabian Business reported.
According to Sita, the financing agreement will allow IFA HI to expedite the project�s completion to the first quarter of 2012.
This is the second loan the bank has facilitated for IFA, with the first being a $165.9m loan to finance The River by Thai developer Raimon Land, in which IFA HR is a major stakeholder, Sita added.
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BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
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24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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