3 per cent of the total operating revenue, with the properties owned and managed by ADNH
having met the budgeted figures.
Co-Head of Wholesale Banking and Senior Managing Director of Global Banking, NBAD, Mark Yassin said: "We are pleased to provide this term loan facility to ADNH
in support of the company's growth ambitions.
NBAD's secured facility refinanced an outstanding debt under a syndicated term loan facility that ADNH
had signed with four banks in January 2010.
Rola Abu Manneh, Senior Managing Director and Head of Client Relationships of NBAD, added, "We are confident this important deal will lead to future partnership between NBAD and ADNH
, which has a promising strategic investment plan and long term vision.
And it's not like ADNH
is dreaming up this partnership.
Shaikh Ahmad Mohammad Sultan Al Daheri, vice-chairman of ADNH
, said Sandooq Al Watan "amplifies the efforts and plans laid out to build a better future for the UAE and its people".
appoints CEOAbu Dhabi National Hotels (ADNH
) has appointed Ignace Bauwens as chief executive officer.
He also disclosed plans to inaugurate the new Holiday Inn Abu Dhabi in October 2014, adding that this hotel is owned by ADNH
In 1992, Al Nowais left ADNH
to form the Rotana Group which has now grown into a unique brand for the Arab world, combining the best in service quality with a uniquely Arabic insight.
The Park Hayat Hotel being built by Abu Dhabi National Hotels or ADNH
will be one of ten five-star properties to be developed on the eight-kilometer white sandy beach of the Island, where tourists can watch dolphins or visit natural turtle-nesting habitats.
In a statement posted on Abu Dhabi Securities Exchange (ADX), where the ADNH
is listed, the company said the hotel division accounted for 67 per cent of total revenues.
For the period, ADNH
recorded operating revenue figures amounting to AED 701 million, (US $190.