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Emirates NBD has arranged a AED367.3 million ($100 million) credit facility for Luxembourg-based CPI Property Group (CPIPG) to support deferred payments linked to its Dubai real estate developments through to 2027.
According to a statement from the Dubai-listed bank, the loan is backed by a portfolio of ultra-prime residential properties in the emirate.
CPIPG currently holds 19 luxury homes in Dubai, including 15 residences still under development by local property firms. The assets are located in high-end projects such as Bvlgari The…
