Dubai – Mubasher: The UAE-based Emaar Development is discussing with some banks to obtain up to $1 billion loan, said informed sources.
With five-year maturity, the loan will be allocated for financing the firm’s projects, Bloomberg reported, citing the sources as saying.
The negotiations about the facility are still preliminary.
Emaar Development is a 79% subsidiary of Emaar Properties, the developer of the world's tallest skyscraper.
Earlier on Thursday, Emaar Properties’ unit has started selling its residential units in Gulf Place Project.
