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Dubai's Emaar signs $500mn Turkey real estate loan

emaarDUBAI: Emaar Properties, Dubai's largest listed developer, has signed a $500 million loan to help finance a real estate project in Turkey, a statement from the company said on Wednesday.

 

The facility, which runs for seven years, was provided by a consortium of banks including Emirates NBD, HSBC and Standard Chartered.

 

The Turkish development, called Emaar Square, will host residential and commercial real estate as well as Turkey's largest shopping mall, the statement added.

 

Copyright Reuters, 2012
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