Onyx Investments on Sunday said it had filed a statement of claim with the Omani courts, as a first step to recover its investment in the stalled real estate project Blue City.
In March, Onyx, 100-percent owned by government-controlled Oma
Essdar Capital, an Abu Dhabi-backed firm, sold its bond investments in the troubled Blue City project to an Oman government-controlled fund.
In a statement on Wednesday, Essdar, 35-percent owned by the ruler of Dubai's investment company,
UAE-based Essdar Capital, which recently bought the senior debt of Oman's troubled $15 billion Blue City project in a distressed deal, is betting on its local expertise to tap more such opportunities, a top executive said.
UAE-based investment fund Essdar Capital has bought the Class A senior debt of a troubled $15 billion property project in Oman on Wednesday, in a distressed debt deal that highlights the woes of the region's property sector.
Essdar has bou
Dubai-based asset manager Essdar Group said it has made a discounted bid for two bonds used to finance a troubled $15 billion property project in Oman after the notes were downgraded.
Credit agencies this month slashed their ratings for th
The Blue City Company 1 (BCC1), and AT&T have signed an agreement for delivery of the design for advanced communications services and related infrastructure at the Al Madina A’Zarqa, a major infrastructure project in Oman.
Under the de
Blue City Company 1 (BCC1) has signed an agreement with InterContinental Hotels Group (IHG) to develop a five star waterfront hotel at Al Madina A’Zarqa, a key real estate infrastructure project in Oman.
The InterContinental Al Madina A’Za
The next sales release of Al Madina A’Zarqa will take place in three months, Blue City Company 1 (BCC1) announced yesterday ( March 30).
The next release will include some of the most unique and prestigious properties in the Gulf, includi
An Omani company has reportedly lost a lawsuit filed against a Bahraini firm, which it accused of illegally acquiring a majority stake in the multi-million dollar Blue City project in Oman.
Bahraini investor Ahmed Abubaker Janahi on S
A Bahraini company is facing court action in Oman after its partners accused it of illegally acquiring a majority stake in a multi-billion dollar project to build an entirely new city.
However, AAJ Holdings Company (AAJHC) said it was an u