30 September 2007
Emaar Properties, the Middle East's largest real estate developer, secured a 400-million Moroccan dirhams (Dh184.7m) loan to finance part of its projects in Morocco, London-based daily Al Hayat reported yesterday.

The loan was provided by Morocco's Attijariwafa Bank of the ONA group, the paper said, citing people from the country's banking sector.

It will be used to finance part of Emaar's real estate investment in the south of Tangier in northern Morocco. Part of the fund will be used to launch the Saphira project for the development of Rabat Corniche, one of Emaar's largest projects in the country.

By Emirates Today Staff

© Emirates Today 2007