A deal that allows Al -Ittihad Real Estate to pay its entire debt

Al -Ittihad Real Estate Company, which is listed in the Dubai Financial Market, has announced its signing a conditional sale agreement of 700 million dirhams for a real estate project in the “Motor City” area, in a qualitative step within the company’s strategic road map, through which the success of the efforts of the recovery plan aimed at settling accumulated debts, and strengthening its financial strength in the long term.

The company stated, in a statement yesterday, that this agreement comes after achieving record sales of land amounting to 1.3 billion dirhams in 2024, within the framework of the comprehensive strategy for the restructuring of debt, and this deal is expected to be included in the financial results of the company in the fourth quarter of this year.

According to Al -Ittihad Real Estate, the structure of the agreement is based on the deferred payment system, thus enhancing the disciplined financial approach that the company follows after the initial payment has been paid, which provides greater clarity of cash flows, and contributes to continuing to improve the public budget structure.

The company affirmed that the revenues of this agreement will allow upon completion to pay the entire debt of the accumulated company, in a move that culminates in the recovery strategy that has continued over several years, and this achievement also pave the way for the company to move to a new stage of sustainable growth, strategic employment of capital, and achieving a long -term value for its shareholders.

The CEO, a member of the Board of Directors of Al -Ittihad Real Estate, Engineer Amer Khandsah.

He added: «This achievement reflects the market confidence in our vision, as it highlights the efficiency of the work team and its discipline in implementing one of the most successful transformation strategies at the sector level, and today we seek to move forward steadily from the strength site, with a focus on strategic development, creating a long -term value, and creating a sustainable impact in the real estate scene in the UAE.