UAE: Dubai: Land reappraisals burden Eshraq with Dh575m loss

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Dubai: The uncertain market conditions in Abu Dhabi had a telling impact on publicly-listed Eshraq Properties’ 2016 financials, who reported a Dh575 million loss for the year on Sunday. The scale of the losses widened after an impairment charge of Dh593 million on the value of its land bank, the developer said in a statement. No mention was made on which of its land holdings had an erosion in value.

Read more on: gulfnews.com

Source : UAE: Dubai: Land reappraisals burden Eshraq with Dh575m loss

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