Al Jaber in Distress

People ♦ Published: April 23, 2011; 16:23 ♦ (Vindobona)

Saudi investor Mohamed Al Jaber has to fight on several fronts in Austria. Kneissl awaits restructuring, loans are due.

Al Jaber in Distress / Picture: © MBI International & Partners

Al Jaber could soon lose his prestigious real estate in downtown Vienna. Bank Austria intends to seize the investor’s properties because of outstanding debts. There are also ÖVAG loans due for over € 20m.

It is openly stated at Bank Austria, that they have lost trust in Al Jaber, because he has not met his payment obligations. "Therefore we are now starting legal action and…