Union Properties completes Dh946m debt restructuring deal with Emirates NBD

      Published on Monday, 10 August , 2020      553 Views     
Union Properties completes Dh946m debt restructuring deal with Emirates NBD

  • Dubai

Union Properties, the Dubai developer behind Uptown Mirdiff and other high-end communities, has completed a debt restructuring deal with Emirates NBD

Deal applies to the full Dh946 million outstandings the developer has with the bank. Payment of the initial amount has also been made, as per the terms of the deal. It was on Sunday that Union Properties announced it had put together a three-year turnaround plan, and backed it up with the launch of a new project near its Dubai Autodrome destination.






The UP share price was trading in the red early on Monday. Following the announcement, it recovered some of the lost ground. Now, armed with the debt repayment plan with Emirates NBD, it will free up UP to focus on its core interests – development.

Keywords:
Category Dubai, Gulf News | 2020/08/10 latest update at 9:52 PM
Source : gulfnews.com | Photocredit : gulfnews.com
554 Views
Comments Add comment



Gulf Media

Related Articles

The editorial staff of Saudi Arabia Today would like to give all of its readers from Gulf and Saudi Arabia and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Saudi Arabia Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Saudi Arabia, the Gulf and the world.


Sponsored Publications