Cityland Group announces a major financing for a $330 mn new mall in Dubai , Invest-Gate reports.
The group manages to secure USD 142.74 mn for Cityland Mall from a consortium of banks consisting of Emirates NBD as the lead bank and Burgan Bank from Kuwait.
The loan will be utilized for covering costs in terms of construction for the mall. Scheduled for opening in 2018, the 2.2 mn square feet mall will have 350 stores, a 100,000 square foot Carrefour, and VOX Cinemas.
Construction work on the mall complex is underway under the supervision of JLL as the project manager, with mechanical, engineering and plumbing (MEP) works now in progress for all areas.
