Emaar, Dubai Properties in Talks with Banks for Loan

Tuesday, 12th December 2017
by Invest Gate

A man enters a sales office of Dubai’s Emaar Properties that provides information and allows customers to reserve properties as part of the architecural project “Downtown Erbil” on October 27, 2013 in Arbil, the capital of the autonomous Kurdish region of northern Iraq. The 10-year project that aims to create the framework for a new city center that will support the growth of the city and the region will be realized by Emaar. AFP PHOTO SAFIN HAMED

Dubai’s developer Emaar Properties is in talks with individual banks to obtain loan facilities in partnership with UAE’s developer Dubai Properties, Reuters quoted sources familiar with the matter as saying.

The financing package could be as large as around AED 4 bn, sources added.

The money would finance projects including a shopping mall and a tower, as Emaar embarks on new developments despite higher property prices in Dubai.

Emaar would raise the loan through a special purpose vehicle with Dubai Properties.