|17 May, 2016

ADFG arranges debt facility for Balqis Residence

Abu Dhabi Financial Group announced that its debt platform, Integrated Alternative Finance, has arranged a debt facility for the Balqis Residence development.

Tuesday, May 17, 2016

Abu Dhabi - Abu Dhabi Financial Group (ADFG) announced that its debt platform, Integrated Alternative Finance, has arranged a debt facility for the Balqis Residence development on the Palm Jumeirah, Dubai.

The project is being developed by IFA Hotels & Resorts, and features 1.5 million square feet of mixed-use residential and serviced apartment complex. These comprise 34 villas, two town houses, two penthouses, and 351 apartments and suites.

The facility arranged by ADFG will fund the project through to completion, which is expected in the first quarter of 2017.

Staff Report Gulf News 2016. All rights reserved.