Meydan inks Dh700m bank financing deal
From the Gulfnews 4th June 2014...
Group taps CBI for revolving project financing facility to build a further 1,500 villas for Emirates Group that will add to an existing 528 units
“It was two years ago that Emirates Group bought 528 villas at Meydan, of which we have delivered 306 and the rest in the next two months,” said Saeed Humaid Al Tayer, Meydan’s chairman and CEO. “The latest deal will see a further 1,500 plus villas, taking the total to 2,028. Emirates plans to use them for their pilots as they keep adding substantial aircraft numbers to their existing fleet."
'Based on construction timelines, 500 villas in the new tranche are to be delivered by March next and the rest in five phases over a further 24-month period. '
It looks like all EK pilots are doomed to ELC (Emirates Labour Camp)