Sama Dubai loan to be paid by Dubai Holding

Dubai Holding will pay off a three-year US$ 300 million loan facility taken out by Sama Dubai.

Sama Dubai, the real estate investment arm of Dubai Holding, arranged the US$ 300 million loan facility with a consortium of eight banks in 2006 to finance its property projects, but the loan matures on 27 September, this year.

A Dubai Holding spokesperson confirmed to iC, "Dubai Holding and its entities will meet their financial obligations in full and on the maturity date."

Banks involved in the deal include Emirates Bank International, Abu Dhabi Commercial Bank, Arab National Bank, Bank Saudi Fransi, Commercial Bank of Dubai, National Bank of Fujairah, Dubai Bank, and Bank Muscat SAOG.