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Qatar's Mazaya gets $107m loan for residential project
- Qatar: Monday, November 19 - 2012 at 15:25
The Doha-based QE Index added 0.04% to hit 8,380.92 points. Shares of Mazaya Qatar Real Estate Development declined 0.40% to QR10.88. Earlier in the day, Qatar Islamic Bank (QIB, flat at QR76) announced that Mazaya has signed a dual-currency, $106.7m 8-year syndicated facility to finance the development of the Sidra Village Residential Project. The cluster will consist of two-storey buildings, green spaces and a community club. Each building will host one-bedroom and two-bedroom units. Upon completion, the project will offer 1,165 residential units. QInvest acted as Financial Advisor to Mazaya Qatar Real Estate Development Company and Sole Bookrunner for the facility. Qatar Islamic Bank took the Investment Agent and Mandated Lead Arranger roles.
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Gérard Al-Fil, Financial JournalistMonday, November 19 - 2012 at 15:25 UAE local time (GMT+4)
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