Abu Dhabi Commercial Bank (ADCB) has settled a $107.13-million legal claim it filed against indebted Zabeel Investments, which is owned by the crown price of Dubai, two sources said.
ADCB sued last month saying Zabeel, which has h
Indebted Zabeel Investments, which is owned by Dubai's crown prince, has reached a $956 million debt deal with lenders, according to al-Khaleej newspaper on Thursday.
The Arabic-language daily, citing an unnamed senior banking
State-owned property firm Dubai Real Estate Corp (DREC) has taken over management of troubled Zabeel Investments, which is owned by the crown prince of Dubai, two sources familiar with the matter said on Thursday.
Zabeel, which ha
Debt restructuring talks at Zabeel Investments, owned by the crown prince of Dubai, have ground to a halt with multiple loans in limbo and few assets available for sale, leaving banks facing steep haircuts, five people familiar with the matter sai
Zabeel Investments, the holding company of Dubai's crown prince, is in talks with creditors to restructure $1.63 billion in debt, according to a newspaper report on Wednesday.
The company is discussing extending debt maturities, as wel
From utilities to private equity groups to investment banks, Gulf firms told Reuters they were on the prowl to snap up companies and stocks at bargain prices as the global financial crisis bites.
Not only are cash-rich players from th
Zabeel Investments said its flagship hospitality brand, Tiara Hotels & Resorts, is adopting a new brand name, Essque Hotels, as it gears up to open its first property in 2009.
“Essque was created as we felt it was the right time to int
Zabeel Investments, the Dubai-based investment group, has abandoned its bid to acquire championship club Charlton Athletic after making an offer earlier this month.
Zabeel Investments, which was proposing to buy the Championship club, has
Zabeel Properties, the property arm of Zabeel Investments, has unveiled Dubawi Island Resorts and Spa resort, a stunning new island development being built off the crescent of Palm Jumeirah.
The leaf-shaped Dubawi Island Resorts and Spa r
Two Dubai-based investment firms have acquired a stake in Empire Aviation Group, which has exclusive rights to sell Hawker Beechcraft business jets in a number of Gulf and Asian markets.
Dubai firms buy into Empire Aviationand Zabeel Inves