Abu Dhabi Islamic Bank (ADIB) has announced that it is providing a AED600m ($163.3m) financing facility to Manazel Real Estate.
The financing will fund the Abu Dhabi-based company's financial obligations and capital expenditure, a statement said.
The firm which develops mainly mid-income residential projects in Abu Dhabi has a few projects in Dubai and one in Jordan.
Manazel Real Estate said it "highly recognises and appreciates" ADIB's continuous support to real estate developers in Abu Dhabi.
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