Three take Barari stake

by ArabianBusiness.com staff writer Saturday, 18 August 2007

Al Barari has finalised a deal that will see Abu Dhabi Commercial Bank (ADCB), Burooj Properties and Oman Emirates Investment Holding Co SAOG (O&E) each taking a minority stake in its flagship project, the US $1.8 billion (AED6.6 billion) Al Barari residential development at Nad Al Sheba in Dubai.

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A total of 330, five- to seven-bedroom villas will be built in the first phase, which is due for completion in December. The second phase will include a hotel.



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