Pursuits
Ferrari Theme Park Developer Looking to Extend Debt Maturities
- Abu Dhabi's Aldar's wants to keep current debt level, CFO says
- Company to more than double spending on projects this year
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Aldar Properties PJSC, Abu Dhabi’s largest developer and the builder of a Ferrari theme park, is considering extending maturities on parts of its 6 billion dirhams ($1.6 billion) of debt.
The debt, which fell from 9.1 billion dirhams a year ago, includes loans due from 2016 to 2019, Chief Financial Officer Greg Fewer told reporters on a conference call Monday. The rest is a $750 million Islamic bond, or Sukuk, due in 2018.