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Union Properties sells Ritz-Carlton Dubai

2010-02-03

Union Properties announced at the Dubai International Financial Center that it will confirm it sells for Ritz-Carlton hotel, which did not fully established,. The company said that sales could occur if the price reached to 1.5 billion AED , according to a statement issued by the company yesterday. The banks that financing the project agreed to extend the financing fund repayment after they receiving a guarantee from the Emirates Dubai National Bank , which owns 48% of Union Properties.

 


 

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