March 28, 2024

UAE listed Abu Dhabi based Reem Investments in pursuit of tactical planning for raising $1.6Bn in Debt, Fresh Equity

Facebook
Twitter
LinkedIn
Image Credits: - Image by Moustafa Elsamadouni from Pixabay

The procured funds will gradually be utilized and funded for primarily the latest property-based progressions.

UAE listed and Abu-Dhabi based Reem Investments is overviewing for raising a staggering 6 Billion Dirhams ($1.6Bln) in Debts and fresh equity for funding and amply supporting out the latest real estate progression, as per a stock exchange filing on Wednesday.

The firm announced the Abu Dhabi Securities Exchange (ADX), on which Reem Investments shares trade, that; “In light of renewed optimism in the real estate market, the company will be undertaking new developments in Najmat, Reem Island. For financing these developments, the company would be seeking a mix of debt and fresh equity in the order of 4.5 billion dirhams and 1.5 billion dirhams, respectively.”

Reem also stated further that it will be introducing a serviced land plots for sale in Najmat.

The establishment’s real estate arm, Reem Developments, at present has two mega projects, a 16-million-square-foot township in Najmat and additionally a mixed-use project in Rawdhat which will target more than 18,000 inhabitants as well as the commercial tenants.

The UAE’s property (Real Estate) market has freshly witnessed out an intensification in demand for homes, with purchasers breaking up completed and off-plan residential units. The preceding month, Aldar sold out the villas at its newly launched project on Yas Island in just 48 hours.

Share.

RELATED POSTS

ryan-miglinczy-02n9_v-d1yY-unsplash-Dubai Non-Oil Economy slumps down reeling under global slowdown despite output being unchanged
Dubai Non-Oil Economy slumps down reeling under global slowdown despite output being unchanged
clay-banks-XvS-uKUoUao-unsplash_As predicted by Dubai Future Foundation, post the current Crisis period FinTech to emerge powerful
As predicted by Dubai Future Foundation, post the current Crisis period FinTech to emerge powerful
uae-4429396_1280_Financial Regulators Merged in UAE Government Shake-up
Financial Regulators Merged in UAE Government Shake-up
  • BYDFi

LATEST POSTS

Global sales leader with a proven track record in driving revenue joins VAST Data to expand global market reach and foster innovative customer solutions
blink, a FinTech platform and a subsidiary of Emtel Ltd has partnered with WebEngage, a marketing technology (MarTech) company specializing in AI, automation, customer data platform (CDP), and advanced data analytics
e& enterprise and The National Health Insurance Company – Daman, recently launched the innovative Hyakum Digital Booth
Datacenters-jpg