Dubai Investments to close Dh1.1 bln loan by year-end: CEO | Reuters

Dubai Investments to close Dh1.1 bln loan by year-end: CEO | Reuters:
"Dubai Investments, part owned by sovereign wealth fund Investment Corp of Dubai, plans to close a 1.1 billion dirham ($299.52 million) loan by Dec. 31, its chief executive said on Saturday.

United Arab Emirates banks First Gulf Bank (FGB) and Abu Dhabi Commercial Bank have been mandated for the loan, Khalid Bin Kalban told reporters in Dubai.

The loan will be used to build a residential project in Dubai's Mirdif neighbourhood located near the world's busiest airport for international travel, Dubai International."

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