Waha Land signs Dh426 million financing deal

Abu Dhabi: Waha Land, a wholly owned company of Waha Capital, has signed a Dh426 million financing package with Emirates Islamic Bank for further development of its Almarkaz light industrial real estate project, following the successful leasing of existing facilities.

According to Waha Capital, Stage 2 will add an additional 187,000 square meter of premium industrial and logistics facilities with retail and commercial amenities. The new phase will be constructed in 2 packages.

“Almarkaz has proven extremely popular because of the quality of the facility, and its excellent location as a hub in transport infrastructure,” said Hazem Saeed Al Nowais, Chief Executive Officer of Waha Land in a statement.