Al-Futtaim close to financing deal for mega-projects

Qatar could soon see its first IKEA store as the Al-Futtaim Group moves ahead on expansion plans.

Al-Futtaim Group is close to raising around $1.3 billion in loans to meet its expansion plans in Qatar and Egypt.

After reaching the final stages of a $1 billion syndicated loan facility in Qatar, and a separate $334.3 million loan, the company announced its finance department will move ahead on expansion plans for a retail mall and an IKEA store.

Click here to read the full article in MAPIC 2011 Review, page 12.

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