Emaar Properties, the developer of the world's tallest tower in Dubai, said it received Dh214.4 million from Amlak Finance as part of loan repayments in 2010.
Emaar's loans to Amlak, the Islamic mortgage company being reorganised by the UAE government, amounted to Dh712 million at the end of last year, the company said in its reviewed earnings statement on the Dubai bourse yesterday.
The amount owed by Amlak is "unsecured" and earns an average return ranging from 4 per cent to 4.5 per cent a year, it said.
No comments:
Post a Comment