dubai’s limitless breaks ground on moscow project
Last Updated : GMT 13:03:42
Arab Today, arab today
Arab Today, arab today

Dubai’s Limitless breaks ground on Moscow project

Arab Today, arab today

Arab Today, arab today Dubai’s Limitless breaks ground on Moscow project

Dubai - Arabstoday

Dubai government-owned developer Limitless has started construction and unit sales of its mixed-use joint venture project in Moscow, it was announced on Thursday. Construction of phase one of Zagorodny Kvartal, Russian for \'Country Quarter\', has started with the project consisting of 700 apartments and 46 townhouses. When complete, the development will include 14,000 residences. The 111 hectare site is located 24km northwest of the Russian capital, alongside the Moscow Canal. Ownership of Limitless was transferred to the Dubai government in July last year as part of Dubai World’s US$24.9bn debt restructuring. The Zagorodny Kvartal project is part of a joint venture with Moscow-based RDI Group. “The launch of Zagorodny Kvartal reinforces Limitless’ commitment to Russia and our partner, RDI Group. Together, we are bringing a new style of development to Moscow: a walkable community that allows residents to step out of the city and into nature,” said Saeed Ahmed Saeed, CEO of Limitless. The Dubai developer earlier this month proposed to pay banks interest in its own US$1.2 billion restructuring, reversing its previous refusal, two bankers with knowledge of the matter said. Limitless is one of several companies in Dubai seeking to restructure debt after property prices and asset values slumped in the Arabian Gulf business hub and credit markets froze. Dubai World, one of the three main state-controlled holding companies, reached a deal last March with about 80 banks to delay payments on US$25bn of debt, while Dubai Group is seeking to restructure US$6bn of bank debt. Limitless, whose projects include the mixed-use Downtown Jebel Ali development in Dubai and another development in Riyadh, Saudi Arabia, raised the loan in dollars and UAE dirhams in 2008 from a group of 18 banks, according to a company statement at the time. Emirates NBD and National Bank of Abu Dhabi helped raise the loan, while Royal Bank of Scotland Group was among the lenders.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

dubai’s limitless breaks ground on moscow project dubai’s limitless breaks ground on moscow project

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

dubai’s limitless breaks ground on moscow project dubai’s limitless breaks ground on moscow project

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today The Big Apple bike boom

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Leaders of Russia, Iran, Turkey meet

GMT 10:12 2017 Wednesday ,22 November

Leaders of Russia, Iran, Turkey meet
Arab Today, arab today 'Advanced' cyber attack targets Saudi Arabia

GMT 10:18 2017 Wednesday ,22 November

'Advanced' cyber attack targets Saudi Arabia
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Honda recalls 800,000 minivans

GMT 11:43 2017 Wednesday ,22 November

Honda recalls 800,000 minivans
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Singer Jahda Wahba has unlimited ambitions

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 13:41 2017 Tuesday ,21 November

French choke up over proposal

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday