Dubai: Amlak Finance PJSC 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 sources.
The company is asking creditors to reschedule repayments on US$1.2bil of loans over the originally agreed period that ends in 2026, said the sources. Most lenders have agreed to the new terms but a final deal hasn’t been signed, they said.
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