Tuesday 19 March 2024
 
»
 
»
Story

Union Properties eyes $202m loan to fund key projects

DUBAI, February 2, 2016

Dubai's Union Properties is in talks with banks to borrow about Dh740 million ($202 million) to help fund some of its projects, the developer said in a bourse statement on Tuesday.

The company hopes to borrow Dh300 million ($82 million) for a residential building, Dh70 million ($19 million) for staff accommodation, Dh50 million ($13.6 million) to expand a shopping mall and Dh320 million ($87 million) for a mixed-use retail and hospitality project, it said without providing further details.

Earlier last year, the developer had announced that it was in talks with several banks to obtain a loan of up to $123 million to fund a 271-unit project in Dubai.-Reuters




Tags: loan | Union Properties | Projects |

More Construction & Real Estate Stories

calendarCalendar of Events

Ads