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Limitless embarks on $1.2bn loan roadshow
- United Arab Emirates: Sunday, January 13 - 2008 at 16:44
- PRESS RELEASE
Limitless, the global master development arm of Dubai World, is launching a $1.2bn syndicated loan as part of its funding strategy for current and future international projects, it was disclosed today.
The tour, led by Limitless CEO Saeed Ahmed Saeed, begins in Dubai today, and will also cover Singapore, Kuala Lumpur and London.
Limitless has teamed up with Emirates Bank, an Emirates NBD company and Emirates Islamic Bank who will act as initial lead arrangers for the 2 year loan.
Limitless currently has global projects worth over $100bn in five countries, with many more to be announced this year.
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Notes and media contacts
Media enquiries: Rebecca Rees on +971 4 375 9733Limitless LLC, a Dubai World company, is an integrated global real estate developer across all market segments, delivering distinctive, sustainable developments. Established in July 2005 and built upon the philosophy of 'delivering distinction', Limitless has three specific areas of expertise: master planning large urban communities, waterfront development and the implementation of large scale balanced projects.
Limitless projects:
Residential North, Puteri Harbour, Malaysia (announced 19 December 2007): 45 hectare waterfront development of luxury homes and condominiums. Development value US$450 million
Al Wasl, Saudi Arabia (announced 11 October 2007): $12bn, 1,400 hectare mixed-use development near Riyadh, including 60,000 homes as well as mosques, educational facilities, offices, shopping malls and hotels.
Arabian Canal, UAE (announced 10 October 2007, preliminary work began 31 December 2007): US$11 billion, 75 kilometre-long man-made waterway - the biggest and most complex civil engineering project ever undertaken in the Middle East. Limitless is also master planning a $50bn, 20,000 hectare canalside 'city' as part of the project.
Bidadi, India (announced 2 October 2007): $12bn, 4,000 hectare urban community near India's technology capital, Bangalore. The first of five new towns planned by the Government for the outskirts of the city.
Halong Star, Vietnam (announced 5 September 2007, broke ground 12 December 2007): $220m, 125 hectare mixed-use development with residential units, hotels, and education, cultural and recreational facilities, overlooking Halong Bay, a UNESCO-sanctioned world heritage site.
Downtown Jebel Ali, UAE (announced 15 November 2006): $13bn, 200 hectare sustainable, mixed-use development consisting of four quarters, each with its own iconic, individually-themed plaza. Downtown Jebel Ali will have nearly 330 buildings, including 237 residential towers.
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Posted by Lara Lynn Golden, News Editor
