Union Properties to reschedule $1.5bn debt
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Union Properties to reschedule $1.5bn debt

Union Properties to reschedule $1.5bn debt

Khalid bin Kalban, CEO of Union Properties has said an agreement has been reached with creditors of the developer to reschedule Dhs5.5bn ($1.5bn) in debt, Arabic daily al-Ittihad has reported. The company also signed agreements for additional loans to finance the completion of its current projects, he told the newspaper.

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