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Dubai Holding arm hit by net loss
Dubai Holding Commercial Operations Group’s loss was mainly due to real estate impairment charges amid the tumbling Dubai property market and was announced as the unit holds talks with banks to refinance a $555m loan. DHCOG said revenues had fallen by 28.5 per cent to Dh9.5bn in 2009.
Medical tourism: Shot in the arm
She said Tecom took over DHCC from Tatweer last year as part of an internal process by the parent Dubai Holding to realign its 11 business parks into five clusters.
Dubai Holding pins hope on property recovery
Dubai Holding Commercial Operations Group (DHCOG) reported revenue of Dh9.5 billion for the year ended December 31, 2009 compared to Dh13.2 billion in the same period the previous year. DHCOG recorded a net loss of Dh23.56 billion for 2009 including Dh22.5 billion in impairment charges compared to a net profit of Dh10 billion in 2008.
