Al Futtaim Group has arranged a Dh660 million 12-year facility agreement to finance part of the construction of a mega hospitality and business hub at its flagship project, Dubai Festival City.
The deal, signed with one of the leading financial institutions in the UAE, Abu Dhabi Commercial Bank, is to part finance the Dh1.3 billion 422 room and 80 apartment iconic convention hotel, InterContinental Dubai Festival City, its 4,500 square metre state-of-the-art conference centre, the 318 room Crowne Plaza Dubai Festival City and a 25 storey 596,000 square foot office tower.
