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- Saudi leadership approves over SR3bn of Ramadan aid disbursement
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- Air Arabia shareholders approve 25% dividend distribution
- Emaar Properties upgraded to 'BBB+' on strong business performance; outlook stable
The company will focus on its core assets with very low leverage, CEO said
30/09/2017 15:41 AST
Dubai-based Gulf General Investment Co. PSC (GGICO) announced that it has completed a Dh2.1 billion ($584 million) debt restructuring after obtaining agreement from the majority of its creditors.
Abdalla Juma Al Sari, Chairman of the company, believes this is a win-win deal both for GGICO and the creditors. "Driven by market conditions, we have obtained enough time until 2023 to dispose of our non-core assets in an organised and structured manner and to retire the debts. Subsequently, the company will focus on its core assets with very low leverage" Al Sari said.
Gulf News
02/04/2018
Gulf General Investment Company (GGICO) is in talks with lenders to restructure loan and credit facilities after defaulting on a payment linked to $585.5 million (2.15 billion dirhams) of debt at the
Arab News
21/12/2017
Gulf General Investment Company (GGICO), a Dubai-based diversified conglomerate, said it will start handing over the one-bedroom apartments at its Topaz Residences Tower 1 project located in Dubai Si
Trade Arabia
01/10/2017
Dubai-based Gulf General Investment Company (GGICO) said it has completed a Dh2.1-billion ($584 million) debt restructuring after reaching an agreement with majority of its creditors.
Es
Trade Arabia
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18/03/2025
Barwa has outlined a 2025 strategic plan, which will help increasing revenues - including commencing development of the Madinatna Schools project and the first phase of the Barwa Hills project - and
Gulf Times
18/03/2025
Air Arabia shareholders have approved the distribution of 25 per cent cash dividend for the financial year ending December 31, 2024 at the company's annual general meeting (AGM). The dividend, which
Khaleej Times
18/03/2025
S&P Global on Monday raised the ratings of Emaar Properties, Dubai's largest listed developer, to 'BBB+', with a stable outlook.
"The upgrade reflects the significant growth Emaar experience
Khaleej Times
18/03/2025
stc group, Saudi Arabia's leading digital enabler, has been ranked as the third strongest telecommunications brand globally in the 2024 Brand Finance Telecom 150 Report.
Developed by Brand F
Saudi Gazette
17/03/2025
Dr. Soliman Fakeeh Hospital in Jeddah continues to strengthen its leadership position in the healthcare sector in Saudi Arabia by achieving a 5-star rating in the "Global Hospital Rating" by Newsweek
Saudi Gazette
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia