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FeedsFarm.com > Bear, Stearns lines up initial financing of $925 million for Oman's Al-Madina Al-Zarqa project

Bear, Stearns lines up initial financing of $925 million for Oman's Al-Madina Al-Zarqa project

15th Nov 2006, 07:52 GMT

UK-based Bear, Stearns International Limited has arranged $925 million in first-stage financing for the construction of Al-Madina Al-Zarqa (The Blue City) in Oman. The deal, the largest of its kind in the Gulf, secures the launch of the largest real estate project in the Sultanate. To be built over a period of up to 20 years, and at a total cost.

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