Abu Dhabi National Hotels secures $436m loan for hotel purchase

  • 1/15/2019
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Loan to finance acquisition of a number of Dubai-based hotels ADNH said on November 29 it had agreed to buy five hotels from Emaar Properties unit Emaar Hospitality DUBAI: First Abu Dhabi Bank said on Monday it had agreed to provide a 1.6-billion dirham ($436 million) loan to Abu Dhabi National Hotels (ADNH) for the acquisition of a number of Dubai-based hotels. The statement didn’t specify the hotels, but ADNH said on Nov. 29 it had agreed to buy five hotels from Emaar Properties unit Emaar Hospitality for 2.2bn dirhams.

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