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ADNH and FAB Conclude AED 1.6bn loan ADNH and FAB Conclude AED 1.6bn loan

ADNH and FAB Conclude AED 1.6bn Loan

Abu Dhabi National Hotels (ADNH) and First Abu Dhabi Bank (FAB) conclude AED1.6 billion (USD435,6 million) loan facility agreement.

The agreement will provide ADNH with the financing capability to acquire a number of Dubai-based hotels.

The agreement was signed by H.H. Ahmed Mohammed Sultan Suroor Al Dhaheri, vice chairman, ADNH and André Sayegh, deputy group CEO, and group head of corporate and investment banking at FAB.

Al Dhaheri, said, “This landmark agreement reflects our ambition to ensure sustainable growth through strategic acquisitions in our core markets. Our continued expansion across the UAE allows us to contribute to economic prosperity throughout the country, which is an important aspect of the Abu Dhabi Vision 2030.”