(MENAFN) Dubai-based TECOM Investments finalized a USD1.1 billion loan after the implementing of an existing facility expansion, which the firm took last year, Emirates 24\7 reported.
TECOM is a key member of Dubai Holding and a real estate master developer and operator of Dubai's leading business parks, with work that encompasses property development and investment.
The firm raised a loan of about USD960.85 million in the first month of the year, which includes the possibility of increasing the amount of the loan and the marketing period to entice further investments.
TECOM managed to close down the loan at USD1.1 billion after the raise, but the firm refused to disclose any additional information regarding the transaction.
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