Credit Suisse expects earnings of Dubai-based developers to reflect the impact of the the global liquidity crunch that has slowed down the sector drastically.
In its fourth quarter preview on UAE real estate, Credit Suisse said it is projecting higher earnings for Abu Dhabi-based Aldar Properties and Sorouh Real Estate but expects the opposite for Dubai’s Union Properties and Emaar Properties.
More on Credit Suisse Forecasts Sharp Fall in Q4 Profits for Dubai Realty Sector
ALDAR properties, the renowned Abu Dhabi-based property developer, announced today a US$ 600 million Ijara facility, has been put in place for the company.
The Ijara facility is equally financed by Abu Dhabi Commercial, Abu Dhabi National Islamic Finance (a subsidiary of National Bank of Abu Dhabi (the Islamic Banking Division of Mashreq bank psc), Dubai Islamic and Noor Islamic .
