Business | Property

Amlak and Mazaya sign agreement

Amlak Finance and Mazaya Holding announced the signing of an agreement for the purchase of 80 per cent of Skygardens at DIFC tower for Dh1.65 billion ($449.3 million), following settlement of outstanding matters.

  • Staff Report
  • Published: 00:03 June 11, 2008
  • Gulf News

Dubai: Amlak Finance and Mazaya Holding announced the signing of an agreement for the purchase of 80 per cent of Skygardens at DIFC tower for Dh1.65 billion ($449.3 million), following settlement of outstanding matters.

The deal is expected to strengthen Amlak's positioning as a major contender in the real estate market and to create additional shareholders' value.

"With the Sky Gardens transaction successfully completed, we are already looking ahead towards cementing a long term relationship with Amlak with the objective of entering into future accords," said Khalid Esbaitah, chief executive officer and managing director of Mazaya Holding.

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