Dubai developer’s US$1.2 billion syndicated loan attracts banks in UK, Europe, Asia and Middle East

Limitless, the global master development arm of Dubai World, has landed in London for the final leg of its US$1.2 billion syndicated loan tour, which has captured interest from several banks in the UK, Europe, South-East Asia and Middle East.

The 2-year loan, led by Emirates Bank and Emirates Islamic Bank, is part of Limitless’ funding strategy for current and future projects, and is being raised through a 10-day international roadshow covering Dubai, Singapore, Kuala Lumpur and London.

Limitless CEO Saeed Ahmed Saeed, who is leading the tour, said:  “Our tour is the launch pad for a long-term relationship between Limitless and a number of reputable banks as we move towards realising our financial plans. There has been strong, healthy response so far, and we look forward to finalising agreements by the middle of next month.”

Limitless, launched in July 2005, currently has global projects in the UAE, Saudi Arabia, India, Vietnam and Malaysia, with a total development value topping US$100 billion. More projects are in the pipeline for the UK, Russia, Poland, China, Jordan and other markets.

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