IFA’S unit to accrue Dh3.2 million from hotel unit

Dubai: Dubai-listed International Financial Advisors (IFA) said on Sunday the company will accrue Dh3.2 million after it re-negotiated several agreements with the existing hotel operator.

The impact will get reflected from the fourth quarter of 2017, the company said in a statement posted on Dubai Financial Market’s website.

IFA is licensed as an investment company, and also has subsidiary called as IFA Hotels and Resorts.

The parent company is principally engaged in providing financial advisory services, trading in local and international securities, borrowing, lending, issuing guarantees, managing investment funds, investment portfolios and dealing with future contracts.