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Discuss this article (3 Comments)Dubai Holding pays in full $250m loan
by This email address is being protected from spam bots, you need Javascript enabled to view it on Monday, 12 October 2009
zoomLOAN PAYMENT: Dubai Holding Commercial Operations Group announced on Monday it had paid in full a $250m loan from BNP Paribas.
Dubai Holding Commercial Operations Group (DHOG), the holding company of Dubai Holding’s Property, Business Parks, and Hospitality verticals, announced on Monday it had repaid in full a $250m loan to BNP Paribas.
The bilateral loan, taken out as a general corporate facility, was repaid on the maturity date.
The announcement comes less than a week after Dubai Holding said it had paid back in full a $300 million loan belonging to its Sama Dubai property unit.
Sama Dubai is the property arm of Dubai Holding and is being merged with local firms Dubai Properties, leisure developer Tatweer, and Emaar Properties.
Dubai Holding said in August it will reorganise its business into four operating units in a bid to cope with the impact of the fallout of the global economic crisis.
Dubai World's property unit Nakheel has $3.5 billion worth of Islamic bonds which mature on December 14.
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good for you
Posted by bewildered of dubai, dubai, u.a.e on Tuesday 13 October 2009 at 15:48 UAE time
thanks the explanation that the article will convince the rest of the world that all is well in UAE. Not too sure that it will however.
Many expats are not here simply to see that Dubai recovers faster than many western countries. some are here simply for the tan.
Posted by bewildered of dubai, dubai, u.a.e on Tuesday 13 October 2009 at 15:48 UAE time
thanks the explanation that the article will convince the rest of the world that all is well in UAE. Not too sure that it will however.
Many expats are not here simply to see that Dubai recovers faster than many western countries. some are here simply for the tan.
Dear 'Bewildered' . . . . .
Posted by Good for you, Dubai . . !, Abu Dhabi, UAE on Tuesday 13 October 2009 at 15:10 UAE time
To 'Bewildered' and others who may not see the merits in news such as this, I suspect you have not taken into account the large amount of international press that has recently suggested that not only is Dubai bankrupt, but that the city is in the process of becoming a financial, as well as a physical desert. This article will deter the western media from publishing more mis-information about the true state of the UAE's finances - and if it succeeds in this, I applaud it! Yes, there are serious difficulties, yes, the crisis has not passed Dubai by (?), but the truth is that Dubai - and the UAE as a whole - stand a better chance of a swift recovery than many industrialized nations in the West. Isn't that why all of us expats are still here? :-)
Posted by Good for you, Dubai . . !, Abu Dhabi, UAE on Tuesday 13 October 2009 at 15:10 UAE time
To 'Bewildered' and others who may not see the merits in news such as this, I suspect you have not taken into account the large amount of international press that has recently suggested that not only is Dubai bankrupt, but that the city is in the process of becoming a financial, as well as a physical desert. This article will deter the western media from publishing more mis-information about the true state of the UAE's finances - and if it succeeds in this, I applaud it! Yes, there are serious difficulties, yes, the crisis has not passed Dubai by (?), but the truth is that Dubai - and the UAE as a whole - stand a better chance of a swift recovery than many industrialized nations in the West. Isn't that why all of us expats are still here? :-)
dubai holding pays off loan
Posted by bewildered of dubai, dubai, u.a.e on Tuesday 13 October 2009 at 08:44 UAE time
Not too sure I understand the pertinence of this headline/article. Are we intended to be impressed that a major Dubai company has honoured a legal obligations? Shouldn't this be the norm? If so where is the news worthiness of such an article?
Posted by bewildered of dubai, dubai, u.a.e on Tuesday 13 October 2009 at 08:44 UAE time
Not too sure I understand the pertinence of this headline/article. Are we intended to be impressed that a major Dubai company has honoured a legal obligations? Shouldn't this be the norm? If so where is the news worthiness of such an article?
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