Sorouh looks for additional $136m in loans
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Sorouh looks for additional $136m in loans

Sorouh looks for additional $136m in loans

Abu Dhabi-based developer, Sorouh Real Estate plans to approach banks for an additional Dhs500m ($136m) in loans before the end of August, Meed has reported. The deal is intended to bring a Dhs2.35bn loan raised in July up to around Dhs3bn. Proceeds from the deal will be used to repay existing debt and fund the development of projects in the emirate. Sorouh revealed in July that profit for the second quarter of the year fell by 87%, to Dhs20m.

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