Posted by Neil King
Cloisall, the UAE's leading interior fitting and contracting company, has secured funding of AED 112 million from First Gulf Bank for two prestigious Abu Dhabi contracts.
The contracts cover work at Yas Island's renowned Ferrari World theme park as well as at Al Zeina, Al Raha's high-end gateway, with Cloisall claiming it has strong orders on its books at present and has seen substantial double-digit growth this year.
Majed Farha, the company's president, said that the strength of its market position had been the reason Cloisall had been able to secure "such high financing".
Cloisall was established in 1963 with the aim of participating in the UAE's plans to create a world hub for modern architecture.
In the past 30 years, the company has worked on various distinguished projects in both the government and private sectors including the expansion of the Dubai International Airport, Jebel Ali International Airport city, Mashreq Bank, Dubai Mall, Delma Mall and the UAE University in Al Ain.