Dubai – Mubasher: Omniyat plans to obtain an AED 1.3 billion loan to finance its current and future projects, the chairman and CEO of the company Mahdi Amjad said.
The firm plans to get the loan on two tranches from domestic banks, Amjad added, noting that the value which already agreed on amounted to AED 550 million.
Omniyat’s CEO and chairman noted that the firm is currently negotiating about the loan’s second tranche which worth AED 750 million, and it will be repaid within 5 or 7 years.
The company will announce a new real estate project on Dubai Water Canal with total investments of AED 2 billion before the end of 2017.
Omniyat will launch leasing portfolio with total value of assets AED 800 million in the beginning of 2018.
