Al Hamra Real Estate secures Dhs850m loan

July 1, 2014 3:40 am

Ras Al Khaimah-based Al Hamra Real Estate Development has said it has obtained a Dhs850m ($230m) financing facility from international and local banks led by Goldman Sachs for its upcoming projects, Reuters has reported. The seven-year facility would be used to refinance existing debt and to finance planned new real estate projects, the firm said, without revealing the terms of the facility.