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FINANCIAL NEWS
UAE’s Al Jaber to raise USD1.6bn from asset sale
04 Jul 2016
(MENAFN) UAE- Al Jaber group has almost doubled the amount of cash in order to raise from asset sales involving real estate and shares under a new debt repayment plan.
Moreover, the group aims to raise USD1.4bn by selling assets involving real estate and shares by 2018, compared with USD748mn offered earlier.
The group needs to get an extra USD1.06bn after raising USD353mn from previous sales.
However, Abu Dhabi’s economic growth will slow to reach 1.5 percent this year, from 4.3 percent in 2015.
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