Abu Dhabi-Mubasher: Integrated Alternative Finance, a subsidiary of Abu Dhabi Financial Group (ADFG), arranged a debt facility for the Balqis Residence development, according to a statement.
The project is being developed by Kuwait-listed IFA Hotels and Resorts on the Palm Jumeirah, Dubai.
The facility will fund the residential project through to completion, which is expected in the first quarter of 2017.
Balqis Residence is a 1,478,000 square feet of mixed-use residential complex, comprising 34 villas, two town houses, two penthouses, and 351 apartments and suites.
