Union Properties in final stages of debt restructuring deal
DUBAI, June 29, 2020
Union Properties, one of the largest real estate development companies in the UAE, said it is in the final stages of a comprehensive debt restructuring process.
The restructuring agreements are expected to incude various types of solutions such as tenor date extension and reduction of interest rates, the company said in a statement to the Dubai Financial Market.
The negotiations with the banks began this year, stated the real estate developer.
This move will support the company to improve its overall financial position, it added.-TradeArabia News Service
