MAF Investments (MAFI), the investment arm of MAF Properties and one of the major operating subsidiaries of Majid Al Futtaim Group, has closed the $300 million loan facility for the ongoing landmark BD240 million Bahrain City Centre project, a top official told Bahrain Tribune.
Richard Reid, the Chief Executive Officer of MAF Investments, who was in Bahrain, said that the $300 million syndication loan for Bahrain City Centre was a huge success in which the local and regional institutions participated overwhelmingly.
HSBC Bank Middle East was among the lead arrangers during the raising process for the MAFI 5-years term loan facility. The BCC project, the country’s first shopping and leisure resort will be ready by mid-2008 and create 3,000 job opportunities.
