Tagged: Amlak Finance

Progress in ‘complicated’ Amlak restructuring

Progress in ‘complicated’ Amlak restructuring

According to the Economy Minister Sultan Al Mansouri, restructuring of Amlak Finance is considered a particularly complicated problem. However, solution is near. Amlak is currently discussing proposals to restructure bank debt of about US$2 billion (Dh…

Amlak said to restructure US$2 billion bank debt

Amlak said to restructure US$2 billion bank debt

Amlak Finance PJSC is discussing with creditors the restructuring of about US$2 billion of bank and government debt. The negotiations are being held between the company and a committee of five banks representing creditors. Amlak is being advised by Pri…

Amlak debt slashed by Dh4 billion

Amlak debt slashed by Dh4 billion

Sultan bin Saeed Al Mansouri, UAE Minister of Economy, has disclosed that the government cut off Dubai-based mortgage provider Amlak Finance’s debt by Dh4 billion.
The debt was reduced through delaying debt as well as through the sale of company’s la…

Emaar gets Dh214m from Amlak

Emaar gets Dh214m from Amlak

Emaar Properties received Dh214.43 million from its subsidiary, Islamic mortgage provider Amlak Finance in 2010, and believes that the remainder Dh712m that its arm owes it is “fully recoverable”. This was a statement given in Dubai bourse.