Union Properties PJSC Successfully Completes Debt Restructuring With Emirates NBD #Dubai - Dubai City Guide
Guest Posts, Link Building, SEO, Pay-Per-Click campaigns
Advanced Search
Home / News / Company News
Company News
   

Union Properties PJSC Successfully Completes Debt Restructuring With Emirates NBD
(10 August 2020)
Agreement reached with Dubai’s largest lender is a strong sign of confidence for the iconic property developer


 

Union Properties PJSC announced today that it has successfully reached an agreement with Emirates NBD for the full restructuring of its outstanding AED 946 million debt with the bank along with payment of the initial amount as per the new terms.

This agreement with Emirates NBD, as the main creditor of Union Properties PJSC, will substantially improve the debt profile of the Group. As a result, Union Properties PJSC will have a significant reduction of its installments as compared to the situation prior to this debt restructuring and better repayment terms which will improve the cash flow position of the company.

Commenting on the successful implementation of this major debt restructuring, Mr. Khalifa Hasan Al Hammadi, Chairman of Union Properties PJSC, said: “Restructuring our outstanding debt with Emirates NBD was our number one priority. This is now done. With better cash flow and the support of our main creditor, we can from this day exclusively focus on the development of our activities and projects. This is a strong sign of confidence from our banking partner and an important milestone for our Group. We have efficiently dealt with legacy issues and are now fully geared for a new growth chapter in our history, which will improve our commitment to the banks and enhance the confidence of ourshareholders."

We accept Guest Posts


DubaiCityGuide.com is owned and managed by Cyber Gear



  All fields are mandatory
Your Name
Email
City
Country
Your Comments
 Max 250 characters - Word Count :
Image Verification
Change Image

     
 
email print
 

Sponsored By : PressReleaseNetwork.com           Sponsored Opportunities

       
       
   
       

Hotels hotels Check out Hotels in Dubai
Shopping shopping A complete Mall & Store Guide
Dining dining Eating out at the coolest spots
Sightseeing sightseeing Things to see & do
DCG Recommends dcg recommends Best of the best in Entertainment
News Alerts
News Alerts
Stay ahead with dubai news
dcg mobile
dcg Mobile
With you wherever you go
rss feed
RSS Feeds
Get the latest
dubai blog
Dubai Blog
Your space, your voice
sitemap
Sitemap
DCG at a glance