Villamar@The Harbour Development $190 million financial restructuring

Overview:

• Villamar@The Harbour Development has undertaken a $190 million financial restructuring.
• The deal contained sukuk (Islamic bond)and musharaka (partnership finance) elements.
• The developer of the project is Gulf Holding Company (GHC) who will restart the project following the restructuring.
• The project itself consists of three towers containing hotels and apartments. It was initially launched in 2007.

Sam Duke - Editor