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United Arab Emirates,United States : AL HAMRA gets Dh 850 million in financing from various banks including GOLDMAN SACHS

July 2, 2014

Al Hamra Real Estate Development obtained Dh850 million ($230 million) financing facility from international and local banks led by Goldman Sachs.

The firm's 7-year facility would be used to refinance existing debt and to finance new real estate projects. It did not reveal the terms of the facility.

Northern emirates such as Ras Al Khaimah are growing rapidly as wealth spreads from Abu Dhabi and Dubai.

Abu Dhabi Commercial Bank AD, Al Khalij Commercial Bank QSC, Al Khaliji France, Arab Bank Plc, Commercial Bank of Dubai, National Bank of Abu Dhabi and Union National Bank helped arrange the facility for Al Hamra.

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Source: TendersInfo (India)

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