Pauling sanctioned with Dh.400m credit facility for construction of villas
Sunday, April 08, 2007
Pauling Middle East Company, a pioneer in roads and building construction in the UAE, has been sanctioned with Dh.400m syndicated credit facility under the leadership of Emirates Bank.
The facility will be used for construction of 366 villas at Falconcity of Wonders in Dubailand development.
The project will take about a year and a half for completion, beginning 20th February 2007.
Emirates Bank is the bookrunner, underwriter and lead arranger of the transaction. The other participating Banks include the Bank of Baroda, State Bank of India, National Bank of Abu Dhabi and Mashreq Bank.
The General Manager of Emirates Bank, Abdul Wahed Al Fahim has mentioned that this is one of the prestigious transactions for the Bank, as it emphasizes their long on-going relationship with Pauling Middle East.
Pauling is an arm of the Ahmed Khalifa Al Mazroui Group in Abu Dhabi. The group comprises a total of fourteen companies that focus on various segments such as construction, infrastructure, travel and tourism, hospitals, pharmacies, aluminium works, building materials, transportation and aluminium works.
Social BookmarkingThe facility will be used for construction of 366 villas at Falconcity of Wonders in Dubailand development.
The project will take about a year and a half for completion, beginning 20th February 2007.
Emirates Bank is the bookrunner, underwriter and lead arranger of the transaction. The other participating Banks include the Bank of Baroda, State Bank of India, National Bank of Abu Dhabi and Mashreq Bank.
The General Manager of Emirates Bank, Abdul Wahed Al Fahim has mentioned that this is one of the prestigious transactions for the Bank, as it emphasizes their long on-going relationship with Pauling Middle East.
Pauling is an arm of the Ahmed Khalifa Al Mazroui Group in Abu Dhabi. The group comprises a total of fourteen companies that focus on various segments such as construction, infrastructure, travel and tourism, hospitals, pharmacies, aluminium works, building materials, transportation and aluminium works.
Labels: Dubailand, Latest News, Real Estate Company
1 Comments:
I have recently bought an office in the ebony tower through dynasty zarooni. They have been advertising heavily in Gulf News recently. I want to warn all my fellow investors to beware of the contract that they are signing with DZ. If you check the website of Al fajer Properties, floor plans of their typical floors does not exceed 11,300 square feet, as per the spreadsheet attached to the MOU of sales between Dynasty & Al fajer where clearly sellable area has been mentioned. however Dynasty without any legal grounds and any such permission is adding 30% to the area and are currently selling and advertising even on the web for the floor area to be 14,664 sqft.So on handover of the property the buyers will be in for a shock and dynasty is no where to take responsibility because they take their premiums out of the contract long before.
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Anonymous, 12:01 PM
Anonymous, 12:01 PM
