Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

ADCB NIC in Dh950 million deal  Join our daily free Newsletter

MENAFN - Khaleej Times - 23/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Abu dhabi commercial bank or adcb this week inked a dh950 million term facility to provide national investment corporation or nic the developer of the breakwater area in abu dhabi with working capital for the development of the new fairmont hotel complex.

the tourism complex will encompass 45-floor twin towers accommodating a five star hotel and residential apartments with sea views ideally located on the abu dhabi breakwater close to marina mall. the 10-year loan is the first such facility agreed between adcb and nic which also owns marina mall. adcb is the main lender for the project.

howard gaunt head of adcb’s corporate and business banking group said: “adcb is proud to be associated with this landmark project which will be a valuable addition to the tourism scene in abu dhabi and a key contributor to the creation of new jobs in the capital. the tourism sector is a vital contributor to the nation’s development and this strategic partnership is testimony to the confidence we have in national investment corporation to deliver on its reputation for first-class developments.”

abdulla ali al saadi managing director of nic said: “this new branded development which will be managed by fairmont will provide further opportunities for uae nationals to buy properties at such a prime location. nic appreciates the support adcb has shown for its development projects in the area.”

— business?khaleejtimes.com


 


Khaleej Times




  MENA News Headlines
 Dec 21 2014 - UAE slams non-OPEC members on rising oil productionMENAFN
(MENAFN) The UAE's Ministry of Energy said that the decision made by the Organization of the Petroleum Countries (OPEC) not to cut production was correct despite the prices continuing with their drop ...

 Dec 21 2014 - Oman's OLC, Spanish CLH sign USD320m contractMENAFN
(MENAFN) Orpic Logistics Company (OLC), a joint venture between Oman Oil Refineries and Petroleum Industries (Orpic), announced it has signed an engineering, procurement and construction (EPC) ...

 Dec 21 2014 - UAE's Hakkasan acquires USD36m The Light GroupMENAFN
(MENAFN) Hakkasan Group, the hospitality and entertainment company owned by Abu Dhabi-based Tasameem Real Estate, announced it has acquired The Light Group from Morgans Hotel Group (MHG), Arabian ...

 Dec 21 2014 - Omani OPWP awards Singaporean firm USD250m water projectMENAFN
(MENAFN) Oman's state-owned Oman Power and Water Procurement Company (OPWP) announced it has awarded a consortium led by the Singaporean Hyflux Ltd and National Power and Water Co a USD250 million ...

 Dec 21 2014 - Oman's SGRF boosts acquisition of local assetsMENAFN
(MENAFN) Oman's State General Reserve Fund (SGRF) announced it has boosted its buying of assets in the local market, particularly shares, due to the massive drop in the prices as the result of the ...

 Dec 21 2014 - Oman's Napco revenue hits USD34.95m in 9MMENAFN
(MENAFN) Oman's National Aluminum Products Company (Napco) announced it has registered a net profit of over OMR USD1.25 million as well as revenues totaling to USD34.95 million during the ...

 Dec 21 2014 - Dubai's Nakheel to restart USD550m Vietnam projectMENAFN
(MENAFN) Nakheel, the Dubai property developer, announced that it will propose a plan to restart a delayed project in Vietnam's northern province of Quang Ninh, which has an estimated value of USD550 ...

 Dec 21 2014 - Etihad Cargo records tonnage high in NovemberMENAFN
(MENAFN) Etihad Cargo, the freight division of UAE flag carrier Etihad Airways, announced it has carried 53.292 tons of cargo in November across its global network, thus achieving an all-time record ...

 Dec 21 2014 - Cold weather forecastJordan News Agency
(MENAFN - Jordan News Agency) The weather is expected to be relatively cold in most parts of the Kingdom and fair in the Jordan valley and Aqaba.Clouds will build up during the evening increasing ...

 Dec 21 2014 - Israeli warplanes bomb southern Gaza StripJordan News Agency
(MENAFN - Jordan News Agency)  Israeli warplanes bombed dawn Saturday, east of Khan Younis in the southern of Gaza Strip.This attack is the first since the end of the Israeli aggression on the Gaza ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help