Oia project's total cost stands at AED 450 million (Photo Credit: Company Website)
UPP
UPP
0.28%
0.36
0.00
UPP
RAK Insurance
RAKNIC
11.11%
3.00
0.30
RAKNIC
Ajman Bank
AJMANBANK
-1.09%
1.82
-0.02
AJMANBANK
Dubai-Mubasher: Union Properties (UP) signed an AED 290 million project finance facility for the construction of Oia Residence.
Ajman Bank and National Bank of Ras Al-Khaimah (Rakbank) acted as joint lead managers for the transaction, while Alpen Capital (ME) Limited was the sole financial advisor to UP.
Situated in Motor City, the project will cost a total of around AED 450 million.
UP’s stock tose 0.4% to AED 0.7, with a turnover of AED 586,670 generated from the exchange of 830,140 shares.
Source:
Mubasher