The firm, owned by
Reuters has quoted a banking source as saying that Meraas was looking to 'front-load' its debt plans so that it raised as much cash before construction began on the projects.
It quoted another industry source as saying: "Meraas is looking for funds to build these mega-projects. Several banks were approached but they have not secured anything yet,"
Meraas declined to comment.
Eariler this month, it was reported that Meeras was considering launching an initial public offering.
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