Dubai – Mubasher: Dubai-based property developer Omniyat has signed an AED 500 million credit facility contract with Ajman Bank.
The credit facility will be allocated for the construction of a mixed-use project at Dubai Water Canal in Business Bay, the company highlighted in a statement to the Emirates News Agency (WAM).
The total cost of the project stood at AED 1.34 billion and it is set to be completed by 2020.
The project will comprise a hotel, luxurious residences, and retail development, the company noted, pointing out that the project will be officially unveiled in the first quarter of 2018.
