Featured
Dubai’s Amlak Close to Restructuring $1.2 Billion With Creditors

(Bloomberg) — Amlak Finance is nearing a deal to restructure debt for a second time as the Dubai-based Islamic mortgage provider navigates an ongoing property slump, according to two people with knowledge of the plan.
Read: Warren Buffett Bets on Dubai Property
The company is asking creditors to reschedule repayments on $1.2 billion of loans over the originally agreed period that ends in 2026, said the people, asking not to be identified because the information is private. Most lenders have agreed to the new terms but a final deal hasn’t been signed, they said.
PricewaterhouseCoopers LLP is advising a group of about 28 creditors on their negotiations with Amlak, the people said. A spokeswoman for Amlak declined to comment.
- Mobius Says Don’t Buy Dubai Property Before ‘Real Slump’
- Dubai’s ‘Long Decline’ in Property Prices Isn’t Over Yet for S&P
- Dubai property market: Avalanche of New Homes Extends Stubborn Slump
Amlak, in which Emaar Properties PJSC holds a 45% stake, is restructuring its debt again after it agreed to new terms on $2.7 billion of loans in 2014. Delaying some of the repayments may help Amlak if and when the property market rebounds.
Property prices in Dubai, the Persian Gulf’s business hub, have slumped 27% since October 2014 amid excess supply and sluggish economic growth. The emirate will host the World Expo next year which it hopes will spark a recovery. Rising oil prices may also help boost economic growth and support demand.
Emirates NBD PJSC, the United Arab Emirates’ second-biggest lender, Standard Chartered Plc, Dubai Islamic Bank PJSC, Abu Dhabi Islamic Bank PJSC, Dubai’s Department of Finance and the National Bonds Corp. PJSC are among creditors.
-
Banking & Finance4 days ago
Oman Arab Bank Announces Increase of Authorised Capital to RO500mn and Paid‑In Capital Boost of RO50mn
-
OER Magazines2 months ago
OER, April 25
-
Renewables1 month ago
Jindal Renewables and OQ Alternative Energy Sign Joint Development Agreement to Advance Integrated Renewable Power Projects in Oman
-
Business2 months ago
St. Petersburg International Economic Forum 2025 unveils its Business Programme
-
Leaders Speak1 month ago
OERLive SPOTLIGHT: Oman Sustainability Week 2025 and Oman Petroleum & Energy Show
-
Alamaliktistaad Magazines1 month ago
Al-Iktisaad, May 25
-
OER Magazines1 month ago
OER, May 2025
-
Bahrain3 days ago
SPIEF 2025 focused on global and regional economic processes, market transformation, new tech, investment climate, financial policy and people
You must be logged in to post a comment Login