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Dubai’s Emaar Properties said to raise $800mln Islamic loan

Posted on 02 December 2011

Emaar Properties, the United Arab Emirates’ biggest developer by market value, agreed on an $800m Islamic loan with three banks that pays 3.5 percent more than the benchmark rate, two bankers familiar with the transaction said.
The developer of the world’s tallest tower will also pay fees for the facility, which is provided by Dubai Islamic Bank, Standard Chartered and National Bank of Abu Dhabi, the bankers said, declining to be identified because the information is private………………………………………..Full Article: Source

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