ABU DHABI (ALETIHAD)
Abu Dhabi-listed Agility Global has extended a $400 million loan facility to Al Farwaniya Property Developments, the owner and developer of Reem Mall, according to a stock market disclosure.
The company said the loan is a short term facility as Farwaniya is in the process of finalising a new facility with third party lenders.
“This won’t create any extra financial burden for Agility Global, but the company will officially record it as a loan to a related business in its financial reports,” the stock market disclosure said.
Reem Mall opened its doors in June 2024.
The loan is being made through a subsidiary of investor and business operator Agility Global, which is itself part of Kuwait-listed Agility.