The first shareholder meeting of Dubai mortgage lender Amlak Finance in more than six years was postponed on Sunday after too few shareholders attended for it be recognised as valid.
The meeting, the first since mid-2008, was call
Dubai-based property lender Amlak Finance is in talks with creditors to restructure debts of around 7 billion dirhams ($1.9 billion), in the latest attempt to resurrect a victim of Dubai's property crash.
Dubai Financial Market (DFM) said its UAE-listed companies have shown a 97.6 per cent compliance to disclose their annual results within the deadline of three months from the end of the financial year.
According to the Dubai bourse, 42 out
Troubled mortgage lender Amlak Finance posted a net loss of 135.1 million dirhams ($36.78 million) in the first half of the year, as revenue fell and writedowns weighed, the company said.
Revenue on fees, investment gains, and property sal
Amlak Finance, the largest real estate financier in the Middle East by market value and total assets, has registered a Dh69 million ($18.7 million) net loss in the first quarter of 2009.
Announcing the financial results at the end of
Leading real estate finance providers Amlak Finance and Tamweel, will be merged into a new entity under the Real Estate Bank, said the Ministry of Finance, in a report.
'The merger is considered a landmark development for the financial
Amlak Finance, a leading mortgage lender, has put a stop on new home loans amidst growing fears that the global credit crisis will hit Dubai's property sector, a report said.
'We are reviewing our existing credit policy to ensure o
Amlak Finance said its chief executive officer Arif Alharmi was awarded the prestigious 'CEO of the year 2008' award in the Home Finance Category at the CEO Middle East Awards function held at the Raffles Hotel in Dubai.
Amlak Finance, a leading real estate financier in the Middle East, has successfully sold 235 apartments at SkyCourts, a freehold residential project in Dubai.
Amlak offered a total of 237,564 sq.ft at 90 per cent financing with repayment
Inwan Investment has officially changed name to Amlak Finance (Jordan).
The name change was approved at the recently held extraordinary general meeting which was attended by a large number of shareholders.
It was decided to increa