Quickly uncover hidden opportunities with comprehensive data and content.
Access the most comprehensive database of companies and officers in the Middle East & North Africa, covering all major sectors and industries.
Data, insights, news & research and analysis you need to gain full visibility of the project pipelines, supply chains, and more to identify opportunities.
First Abu Dhabi Bank said it had agreed to provide a $436 million loan to Abu Dhabi National Hotels for the acquisition of a number of Dubai-based hotels
Image used for illustrative purpose. Abu Dhabi skyscrapers and coastline.
DUBAI- First Abu Dhabi Bank said on Monday it had agreed to provide a 1.6 billion dirham ($436 million) loan to Abu Dhabi National Hotels (ADNH) for the acquisition of a number of Dubai-based hotels.
The statement didn't specify the hotels, but ADNH said on Nov. 29 it had agreed to buy five hotels from Emaar Properties unit Emaar Hospitality for 2.2 billion dirhams.
($1 = 3.6728 UAE dirham)
(Reporting by Tom Arnold; Editing by Mark Potter) ((Tom.Arnold@thomsonreuters.com; +97144536265; Reuters Messaging: firstname.lastname@example.org))