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Realty News from UAE

RAK Properties gets $150m to finance projects

11:16 - 7 Sep '09

UAE-based real-estate developer, RAK Properties, has obtained a five-year $150m loan from state-owned Investment & Development Office, the investment arm of Ras al-Khaimah, Bloomberg has reported. The loan will be used to finance RAK Properties' projects including the Dhs10bn ($2.72bn) Mina Al Arab beachfront residential development, the developer said.

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