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Dubai: The Dubai-based mortgage company Amlak Finance has just received a Dh850 million boost, following a settlement reached with a third-party on the payment. This followed a 2019 court judgement that went in Amlak’s favour. The company is taking on the Dh850 through a mix of plots and cash. On the property side, it will acquire 31 undeveloped plots in the Ras Al Khor area with a combined value of Dh650 million. In addition, it will secure Dh200 million split over four instalments over the next 24 months. The first Dh50 million will be paid on the signing of the settlement agreement, the second 12 months later, the third in 18 months and the fourth on completing 24 months.

United arab emiratesGulf newsRas al khorDubai international arbitration centreAmlak financeImage creditஒன்றுபட்டது அரபு அமீரகங்கள்வளைகுடா செய்திராஸ் அல் கோர்துபாய் சர்வதேச நடுவர் மையம்படம் கடன்