Union Properties announced the signing of an agreement to restructure all its debts amounting to 946 million dirhams with Emirates NBD.
The company said in a statement to the Dubai Financial Market today, Monday, that it had made the first payment under the agreement.
The company will benefit, through this procedure, by a drastic reduction in its premiums.
and the company announced in June that it was in the final stages of a comprehensive debt restructuring process.
the company's losses last year amounted to 218.81 million dirhams, compared to 2018 profits of 62.32 million dirhams.
(Amazon Fun Knowledge)
