According to Amac News: RAK Properties announced that this agreement was signed to support the development of the project in Mina Al Arab and to arrange financial facilities of 2 billion dirhams.
This syndicated long-term financing facility agreement supports RAK Properties' ambitious growth trajectory and also boosts the development of green buildings in the region.
The facility will support RAK Properties' current and future development projects, including several luxury hotels and residential communities in Mena Al Arab, while providing the long-term liquidity necessary to ensure the company's sustainable growth.
The agreement also demonstrates CBD's belief in RAK Properties' long-term vision and strong market position, setting the stage for continued success in Ras Al Khaimah's dynamic real estate sector.