The local Al-Futtaim Group has signed a $131 million loan facility with National Bank of Abu Dhabi to fund the construction of a 500-apartment residential tower in the Marsa al-Khor neighbourhood of Dubai Festival City (DFC). A further three bilateral agreements are close to being finalised and the company expects to have put financing in place for all the major elements of the project by the summer, says Marwan Shehadeh, managing director of Al-Futtaim Capital.
You might also like...
Iraq signs deal to develop the Akkas gas field
25 April 2024
Emaar appoints beachfront project contractor
25 April 2024
Acwa Power signs $356m Barka extension
25 April 2024
AD Ports secures Angola port concession agreement
25 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.