The Emirati company, Nakheel, announced today, Tuesday, that it has obtained strategic financing worth 17 billion dirhams; To support the new stage of growth and expansion.
Nakheel said that the financing included refinancing agreements worth 11 billion dirhams, and additional financing credits worth 6 billion dirhams, according to the Emirati newspaper Al Bayan.
Nakheel will use this funding to accelerate the development of its new projects, including the Dubai Islands project and other large waterfront projects.
Nakheel's 11 billion dirhams of loans were secured through a group of three banks: Mashreq Bank, Dubai Islamic Bank and Emirates NBD, which confirms the company's strong financial foundations and long-term growth prospects.
A spokesman from Nakheel said: The new financing agreements will play an important role in strengthening the company's financial position, and will also reflect the confidence of banking institutions in the company's new strategic direction. Dubai's real estate sector is recording strong growth, driven by government regulatory measures such as the issuance of long-term visas, and buoyant economic activity backed by strong growth in the retail, leisure and hospitality sectors.
It is worth noting that Nakheel's assets in the residential, retail and hospitality sectors have recorded remarkable growth despite the challenges that accompanied the pandemic, as the company's financial focus policy emerged through effective resource management, and the stability of the retail and hospitality asset portfolio, which led to gaining customer confidence. and financial institutions.
