Abu Dhabi’s Agility Global Grants $400M to Reem Mall Developer
Funding to Al Farwaniya Property Developments boosts Reem Mall’s completion ahead of June 2024 opening
Agility Global Provides $400M Boost for Abu Dhabi’s Reem Mall
Abu Dhabi-listed Agility Global has provided $400 million to Al Farwaniya Property Developments, which is responsible for the construction and ownership of Reem Mall. The financing is aimed at completing and preparing the long-awaited retail destination for operations.
Agility Global says Al Farwaniya is close to completing the deal in securing additional financing from external lenders. The move will further strengthen its financial foundation as the project nears its official launch.
Reem Mall is expected to open in June 2024, adding a significant addition to Abu Dhabi’s retail landscape. Despite previous delays caused by the COVID-19 pandemic, the project is back on track for completion with additional financing.
The loan was provided through a subsidiary of Agility Global, a significant investor and business director. Agility, a global logistics and infrastructure company listed in Kuwait, includes Agility Global. Agility is well known throughout the region.
