At a press conference held at the UNB Head Office on 7th Nov, UNB announced that a decision was taken at the meeting of the Board of Directors held on 6th November, 2007, to set up a real estate company with an authorized share capital of Dhs5bn and an initial paid-up capital of Dhs1bn.
The company will conduct the business of real estate development, including dealings, financing and management of real estate.
The main founder of the company shall be Union National Bank and preference shall be given to shareholders of the Bank to participate as founders. The process of formation of the company shall start immediately and further details shall be provided when they are finalized.
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Union National Bank to set up a real estate company
- United Arab Emirates: Wednesday, November 07 - 2007 at 16:12
- PRESS RELEASE
Union National Bank has taken a decision at the meeting of the Board of Directors held on November 6, 2007 to set up a real estate company.
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Posted by Lara Lynn Golden, News EditorWednesday, November 07 - 2007 at 16:12 UAE local time (GMT+4)
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