Dubai's Emaar Properties , builder of the world's tallest tower, is using four of its shopping malls including the Dubai Mall as collateral for an $800 million two-tranche loan, banking sources said on Thursday.
The facility, which consists of a five-year tranche and an eight-year amortising loan, is being arranged by Dubai Islamic Bank , National Bank of Abu Dhabi and Standard Chartered , four sources told Reuters.
Emaar, the Gulf's largest listed developer, is using four of its Dubai malls as collateral for the deal, two of the bankers said.
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