Saturday 25 October 2014
 
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Amlak

Amlak’s debt restructuring proposal approved

Dubai's Amlak Finance said on Thursday that a proposal to restructure its debt had been approved by all its creditors, and that shares in the mortgage lender would therefore resume trading on the emirate's stock market next year.

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Amlak offers new restructuring deal for $2.7 bn debt

Dubai mortgage lender Amlak has made a new proposal to creditors to restructure and extend repayments of about $2.7 billion of debt, aiming to end protracted talks over the last major hangover from the emirate's property market crash in 2008

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Jumeirah offers funding for new residential project

Dubai's leading developer Jumeirah has joined hands with Amlak to provide strategic home financing opportunities for the buyers of unit at its luxury residential golf community. Jumeirah Golf Estates (JGE), located at Exit Roa

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Amlak to resume trading in H2

Dubai's indebted mortgage lender Amlak, whose shares have been suspended since 2008, will resume trading on Dubai's bourse in the second half of this year, the UAE economy minister said on Monday. "Our target is to li

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Amlak to resume trading in H2

Dubai's indebted mortgage lender Amlak, whose shares have been suspended since 2008, will resume trading on Dubai's bourse in the second half of this year, the UAE economy minister said on Monday. "Our target is to li

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Creditors considering Amlak debt proposal

Creditors of Dubai firm Amlak Finance are considering a restructuring proposal from the indebted mortgage lender, said the UAE economy minister said, adding he expected it would reach a debt solution. Amlak, a victim of the bursti

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Emaar's apartment sales sag 85pc in 2011

Dubai-based Emaar Properties, developer of the world's tallest building, said revenue from villa sales and its rental and hospitality units rose last year, but this was not enough to offset an 85-per cent drop in apartment sale earnings.

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UAE cuts Amlak's debt by $1.1 billion

UAE’s federal government has cut struggling Islamic lender Amlak's debt burden by $1.1 billion, the economy minister said on Tuesday, in the latest effort to revive the Dubai mortgage provider whose stock has been halted since 2008. Th

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Amlak deal would hit ENBD Tier 1: broker

Emirates NBD, Dubai's largest bank by assets, could see its Tier 1 capital ratio fall by nearly 1.1 percentage points if it is forced to absorb embattled property lender Amlak Finance, HC Securities said on Sunday. ENBD, which is 56-pe

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Dubai mortgage lender Amlak's Q2 loss widens

Troubled Islamic mortgage lender Amlak posted a wider second quarter net loss as income from its core business fell and impairments more than doubled, the company said in a statement on Tuesday. The Dubai lender made a net loss of 52.2 mil

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