VOL. XLVII
No 20
17-May-2004
REGIONAL BANKING
Mashreqbank To Provide Financing For Part Of Jumeirah Beach Development
Mashreqbank announced on 8 May that it had won a contract to provide financing to Arabtec Construction, which is building packages one and three of the Jumeirah Beach Residence (JBR). This part of the project is valued at Dh1.6bn ($436mn), although Mashreqbank has not revealed how much of this it will fund. However, sources at the bank told MEES that it would bear the full risk of...
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