FINANCIAL NEWS

UAE’s Sobha Group eyes USD4b for project

22 Jul 2014

(MENAFN) UAE-based Indian developer Sobha Group is negotiating with major local and international banks to secure financing for its USD4 billion Sobha Hartland development in Dubai”s Mohammad Bin Rashid City, according to Gulf News.

Ajay Rajendran, Vice Chairman at Sobha Real Estate, said that funding for the development will come from a combination of internal cash and bank financing.
He declined to state how much would be funded externally.

Parent company Sobha Group has an annual turnover of USD598 million, according to a company statement.

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