Dubai-Mubasher: Union Properties (UP) said the board gave the go-ahead for the guarantee given by the company on 2 August to Dubai Islamic Bank (DIB) regarding the Murabaha facility arrangement of its subsidairy Properties Investment.
The board also apprpved inviting shareholders for a general meeting to discuss entring into AED 360 million Sharia-compliant refinancing agreement with DIB in connection to the company’s property on Uptown Mirdiff for seven years.
Source:
Mubasher