Abyaar gets private funding for UAE projects

14 October 2010

Kuwaiti developer gets go ahead for Dubai scheme

Kuwaiti developer Abyaar has secured the approval of UAE investors to part-fund its Olgana Tower and Hilliana Tower within the Acacia Avenue project in Al Sofouh area, Emirates 24-7 has reported. “After we struck a deal for our Pier 8 project in Dubai Marina, a number of investors approached us for our projects which were put on hold. And since the banks are not eager to finance projects in Dubai, we have opted for striking private partnerships,” a company spokesperson was quoted as saying. The 34-storey Olgana Tower features 139 apartments, while the 45-storey Hilliana Tower comprises 148 luxurious apartments.

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