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Agility Global extends $400m short term loan to Reem Mall developer

Agility Global extends $400m short term loan to Reem Mall developer
2 Feb 2025 21:02

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.

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