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Agility, UPAC, and NREC invest $1.2 billion in Abu Dhabi’s Reem Mall.
Abu Dhabi-listed Agility Global has extended a $400 million loan to Al Farwaniya Property Developments, the owner and developer of Reem Mall.
The company said Farwaniya is in the process of finalising a new facility with third party lenders.
Reem Mall opened its doors in June 2024 after delays attributed to the COVID-19 pandemic.
The loan is being made through a subsidiary of investor and business operator Agility Global, which is itself part of Kuwait-listed Agility.
(Reporting by Imogen Lillywhite; editing by Daniel Luiz)