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 2.2bn dirhams.
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Abu Dhabi National Hotels secures $436m loan for hotel purchase
Abu Dhabi National Hotels secures $436m loan for hotel purchase
- Loan to finance acquisition of a number of Dubai-based hotels
- ADNH said on November 29 it had agreed to buy five hotels from Emaar Properties unit Emaar Hospitality
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