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FINANCIAL NEWS
UAE- Union Properties extends USD108.9m loan to 2017
14 Apr 2013
(MENAFN) Union Properties stated that it was able to secure a five year extension to a current USD108.9 million loan from a commercial bank, reported Reuters.
The developer did not disclose any further commitments associated with the extension.
It is worth mentioning that Union Properties was struck by the financial crisis that hit back in 2009, sinking home prices in the UAE and causing huge losses to the country’s developers.
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