NBF extends Dh208m loan to GRDI for construction of Ikea centre in Dubai

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National Bank of Fujairah (NBF) has concluded a facility valued at Dh208 million for Gulf Resources Development & Investment (GRDI) for the construction of Ikea’s largest distribution centre in the Middle East at Dubai South.

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National Bank of Fujairah PJSC (NBF) announced today that it had concluded a facility valued at AED 208 million for Gulf Resources Development & Investment (GRDI), which went towards the construction of IKEA’s largest distribution centre in the Middle East at Dubai South, the 145 square-kilometre master-planned city previously known as Dubai World Central (DWC).

Ikea Group has opened its first distribution center in the Middle East in Dubai as part of its plans to expand across the region. Located in Dubai South, the new unit is spread over 100,000 square.

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Ikea is one of the world’s biggest furniture retailers and a favorite for all the people in Dubai. Their living room department includes an extensive collection of curtains, made from the best of cotton and linen by IKEA’s own d.

National Bank of Fujairah concluded a facility valued at AED208million for Gulf Resources Development and Investment fo construction of IKEA’s largest distribution center at Dubai South. WAM (Emirates News Agency) FUJAIRAH, 2nd November, 2015 (WAM) — National Bank of Fujairah, NBF, announced today.