|11 September, 2019

UAE’s Union Coop to inject $681mln investments into 20 projects

These investments will be pumped into developing malls and new branches: CEO

image used for illustrative purpose Labourers work at a construction area in Dubai.

image used for illustrative purpose Labourers work at a construction area in Dubai.

REUTERS/Ahmed Jadallah

UAE – Mubasher: The UAE’s Union Coop said it will invest AED 2.5 billion into 20 projects over the coming three years, Emarat Al Youm reported.

These investments will be pumped into developing malls and new branches, CEO of Union Coop Khaled Humaid Bin Dhiban Al Falasi noted.

Union Coop will try to self-finance its projects and not to get loans from banks, Al Falasi added.

He also added that the retail company plans for expansion in Dubai over the coming period and seeks to build 10 malls with up to AED 1 billion in investments.

It was recently reported by Emirates News Agency (WAM) that Union Coop had begun the construction of two malls at a total cost of AED 82 million.

The two new malls will be built in at Al Bada'a in Jumeirah and at Hessa Street in Al Barsha, according to WAM.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Construction