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Business Recorder
6 days ago
- Business
- Business Recorder
Emirates NBD helps secure $1bn for Dubai Metro's $5.6bn Blue Line
Emirates NBD said Wednesday it has concluded AED 3.9bn ($1bn) Syndicated Bonding Facilities to a consortium that will deliver the new Dubai Metro 'Blue Line' Project. In December 2024, Dubai's Roads & Transport Authority (RTA) awarded a AED 20.5 billion contract for the 30 km Blue Line to a consortium comprising Turkey's MAPA and LIMAK, along with Chinese state-owned CRRC. Emirates NBD engaged with the consortium 'as part of a seamless, comprehensive, and collaborative process,' it said in a statement. Valued at AED 20.5 billion, the infrastructure initiative is a crucial component in Dubai's 2040 Urban Master Plan to create, develop, and expand a world-class network of public transportation services and mobility solutions that connects communities with key locations, alleviates traffic congestion, and enables easier movement of people around the emirate. Dubai moves one step closer to flying taxis with successful test flight Scheduled for completion by September 2029, the Dubai Metro Blue Line will have 14 stations - five of which will be underground - to provide 'seamless connections' with the existing Red and Green Metro lines, as well as bus and taxi routes. The project, which was officially announced by the RTA at the end of last year, is expected to serve approximately 350,000 daily passengers by 2040. As a state-of-the-art electrified railway network, the Dubai Metro Blue Line project aligns with the Emirates NBD Sustainable Finance Framework, qualifying as Green Financing under the 'Clean Transportation' category. Dubai is spending billions to fix its traffic problems Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, said the project 'will strategically and significantly empower the continuous development of the emirate by providing a rising population with new, efficient, accessible, and reliable public transportation and mobility solutions.' He said the transaction highlights 'Emirates NBD's status as the go-to banking partner for diverse mega projects that are transforming Dubai's landscape, capabilities, and global appeal.' Murathan Doruk Günal, Vice President & CEO at MAPA, said: 'The successful closing of the financing with Emirates NBD marks a key milestone and reflects the trust placed in our consortium's ability to deliver complex, high-impact projects' while Serdar Bacaksız, Board Member at Limak Group of Companies was quoted as saying that the Blue Line project 'is a testament to Dubai's forward-thinking approach to urban development.'
Gulf Today
16-07-2025
- Business
- Gulf Today
ENBD concludes Dhs3.9b bondingfacilities for Dubai Metro project
Emirates NBD (ENBD) has concluded Dhs3.9 billion Syndicated Bonding Facilities to a consortium created by MAPA, LIMAK and CRRC that will deliver the new Dubai Metro 'Blue Line' Project. Dubai Road and Transport Authority (RTA) awarded a consortium of MAPA, LIMAK, and CRRC - the design and build project for the Dubai Metro Blue Line Project. As such, Emirates NBD engaged with the consortium as part of a seamless, comprehensive, and collaborative process. Valued at Dhs20.5 billion, the landmark infrastructure initiative is a key component in Dubai's 2040 Urban Master Plan to create, develop, and expand a world-class network of public transportation services and mobility solutions that connects communities with key locations, alleviates traffic congestion, and enables easier movement of people around the emirate. Scheduled for completion by September 2029, the Dubai Metro Blue Line will provide seamless connections with the existing Red and Green Metro lines, as well as bus and taxi routes. The project, which was officially announced by the RTA at the end of last year, will serve approximately 350,000 daily passengers by 2040. As a state-of-the-art electrified railway network, the Dubai Metro Blue Line project aligns with the Emirates NBD Sustainable Finance Framework, qualifying as Green Financing under the "Clean Transportation' category Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, said: "The Dubai Metro 'Blue Line' Project is a milestone undertaking that will strategically and significantly empower the continuous development of the emirate by providing a rising population with new, efficient, accessible, and reliable public transportation and mobility solutions. This major transaction positions Emirates NBD's status as the go-to banking partner for diverse mega projects that are transforming Dubai's landscape, capabilities, and global appeal.' Murathan Doruk Günal, Vice President & CEO at MAPA, said: "We are proud to be part of this landmark infrastructure project, which is an integral part of the Dubai 2040 Urban Master Plan launched by His Highness Sheikh Mohammed Bin Rashid Al Maktoum. The successful closing of the financing with Emirates NBD marks a key milestone and reflects the trust placed in our consortium's ability to deliver complex, high-impact projects. At MAPA, we remain committed to contributing our engineering expertise and project-execution capabilities to support Dubai's vision of sustainable and integrated urban development." Serdar Bacaksız, Board Member at Limak Group of Companies, stated: "The new Dubai Metro Blue Line Project is a testament to Dubai's forward-thinking approach to urban development. Limak is honoured to be a key partner in this transformative journey, collaborating with our esteemed colleagues. This financing agreement with Emirates NBD is a crucial milestone, empowering us to bring our global expertise, insights and innovative solutions to life, and contribute to Dubai's ambition for a seamlessly connected, sustainable city.' Meanwhile in June 2025 Emirates NBD has partnered with Siemens to announce an innovative finance and resourcing agreement aimed at accelerating the funding of future green infrastructure projects in the UAE. The agreement is the culmination of an extensive and strategic collaboration that synergises technology, sustainability, and finance, and is fully aligned with the UAE's Net Zero by 2050 Strategic Initiative. Emirates NBD was approached by Siemens to develop and design the administrative, technical and structural aspects of the agreement. This collaboration resulted in the creation of a unique credit framework, complemented by an innovative suite of financing tools. These resources will support green infrastructure projects from installation through their entire lifecycle, including decarbonisation efforts. Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, said, 'Emirates NBD's role in developing this expansive agreement with Siemens highlights our commitment to helping the UAE reach its sustainability and decarbonisation ambitions. It reinforces our goal to expand important working relationships with multinational conglomerates that share our ESG vision and are eager to establish new opportunities for growth within the fields of energy efficiency and sustainable technologies.' Helmut von Struve, CEO of Siemens in the UAE, said, 'Decarbonising infrastructure is a critical part of achieving the energy transition. The technologies required to accelerate energy efficiency progress are available today, but implementation needs to speed up to reach global goals.' Emirates NBD held its 18th General Assembly Meeting on 24 February 2025. At the General Assembly Meeting, a review of the Group's performance during 2024 was presented. Commenting on the Group's performance, Emirates NBD Chairman, Sheikh Ahmed Bin Saeed Al Maktoum, said: 'The story of Dubai and the UAE in 2024 is one of relentless ambition and boundless opportunity. Dubai and the UAE had another exceptional year, cementing their position among the leading global hubs for innovation, talent, and investment. Dubai's GDP grew by 3.2 per cent in 2024 to reach Dhs443 billion, driven by the expansion of key sectors, including transport, hospitality, logistics, and financial services.' Sheikh Ahmed Bin Saeed added: 'A key catalyst in this remarkable growth story is Emirates NBD, which continues to perform and transform, as Dubai's largest bank and the most profitable financial institution in the region. The Dubai Economic Agenda, D33 aims to double the size of Dubai's economy by 2033 and position the city among the top three global cities. Emirates NBD is actively driving progress through strategic initiatives that prioritise innovation, financial inclusion, and sustainable growth, solidifying its standing as a critical enabler in Dubai's vision.' 'Our landmark financial performance has been achieved in harmony with Emirates NBD's longstanding commitment to responsibility and sustainability. In 2024, Emirates NBD expanded its sustainable finance offerings with innovative solutions, such as Sustainable Fixed Deposits and ESG-linked working-capital facilities for customers across the region. It also introduced the region's first globally recognised Sustainability- Linked Loan Bond Framework, fully aligned with the latest International Capital Market Association guidelines,'' he noted. "Our ESG Forward Journey outlines a comprehensive roadmap to enhance sustainable finance governance, achieve net zero emissions for key sectors, and reduce Scope 1 & 2 Greenhouse Gas emissions by 30 per cent from the 2023 baseline by 2030. We have also committed to provide $30 billion in sustainable finance and achieve 25 per cent female representation in senior leadership by 2027.' WAM
Arabian Post
16-07-2025
- Business
- Arabian Post
Emirates NBD Backs AED 3.9 Bn Funding for Dubai's Blue Metro
Emirates NBD has arranged AED 3.9 billion in fully underwritten syndicated bonding facilities to support the MAPA‑LIMAK‑CRRC consortium building Dubai's Metro Blue Line Project, advancing the emirate's 2040 Urban Master Plan goals for a world‑class public transport network. The bond will cover part of the AED 20.5 billion contract awarded by the Roads and Transport Authority to the three‑way consortium for design and construction of the new metro line. Set to span 30 km with 14 stations, the Blue Line extends across strategic locations including Dubai Creek Harbour, Dubai Silicon Oasis, and Academic City. Scheduled for operational launch in September 2029, the electrified line will link with the existing Red and Green metro lines, alongside bus and taxi services, anticipating service for around 350,000 daily passengers by 2040. Strategic planners expect the new route to relieve congestion and connect residential, industrial and academic zones more efficiently. ADVERTISEMENT The green finance classification reflects the project's alignment with Emirates NBD's Sustainable Finance Framework, categorising it under 'Clean Transportation'. Bank executives described the deal as a key milestone reinforcing its role as a partner in green, strategic infrastructure projects shaping the emirate's future. Bank spokesperson Ahmed Al Qassim, Group Head of Wholesale Banking, emphasised the initiative's importance: 'This metro line is a landmark undertaking … providing a rising population with new, efficient, accessible, and reliable public transportation'. From the consortium, MAPA's Murathan Doruk Günal praised the bank's trust and commitment to Dubai's sustainable urban vision, while Limak board member Serdar Bacaksız highlighted the transformative potential of the infrastructure move. As a smart, automated system, the Metro Blue Line aims to cut travel times significantly—passengers can expect a 25‑minute ride between Creek and Academic City, and 17 minutes to Centrepoint—boosting integration with future transport, including Etihad Rail. Its construction includes 14.5 km elevated track and 15.5 km underground, with platform enhancements to support growing ridership. This latest phase follows RTA's December 2024 contract award for the consortium—comprising Turkish entities MAPA and Limak, alongside China's CRRC—marking a significant milestone in Dubai's push for an expanded rail network. The broader roster of contractors included international firms, but this consortium triumphed in the bid judged on technical capacity and delivery potential. As part of the 2040 Urban Master Plan, the Blue Line is designed not only to strengthen mobility but also to advance sustainable urban growth. Emirates NBD's bond facility demonstrates private‑sector alignment with government transport ambitions and the emirate's environmental commitments.
TECHx
15-07-2025
- Business
- TECHx
Emirates NBD Concludes AED 3.9B Blue Line Financing
Home » Smart Sectors » Mobility » Emirates NBD Concludes AED 3.9B Blue Line Financing Emirates NBD, a banking group in the Middle East, North Africa, and Türkiye (MENAT) region, has announced the conclusion of AED 3.9 billion in syndicated bonding facilities. The financing was extended to a consortium formed by MAPA, LIMAK, and CRRC to support the new Dubai Metro Blue Line project. The Roads and Transport Authority (RTA) had earlier awarded the design and build contract for the Blue Line to the consortium. Emirates NBD engaged closely with the group through a comprehensive and collaborative process. Valued at AED 20.5 billion, the Dubai Metro Blue Line is part of the emirate's 2040 Urban Master Plan. It aims to enhance Dubai's public transport network, reduce traffic congestion, and connect key urban areas more efficiently. The project is expected to be completed by September 2029. Once operational, it will serve around 350,000 daily passengers by 2040. It will also provide seamless links to the existing Red and Green metro lines, as well as bus and taxi routes. The Blue Line is designed as a state-of-the-art electrified railway and qualifies as Green Financing under Emirates NBD's Sustainable Finance Framework, specifically within the 'Clean Transportation' category. Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, said the project is a major milestone. He emphasized the bank's role in supporting Dubai's development through reliable and innovative financial solutions. Murathan Doruk Günal, Vice President & CEO at MAPA, highlighted the consortium's commitment to Dubai's sustainable growth. He noted the successful financial closing as a key achievement. Serdar Bacaksız, Board Member at Limak, added that the Blue Line reflects Dubai's progressive urban vision. He confirmed Limak's dedication to delivering high-impact infrastructure and enhancing connectivity. Emirates NBD provided AED 3.9 billion in syndicated bonding facilities Project aligns with Dubai 2040 Urban Master Plan and clean transport goals Completion set for September 2029, serving 350,000 daily passengers by 2040 The bank reiterated its position as a strategic partner in transformative infrastructure initiatives that shape the future of Dubai.
Hi Dubai
20-06-2025
- Business
- Hi Dubai
New Green Term Loan Secured for Galadari Sports Facility in Dubai
Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (MENAT) region, has announced the successful completion of a new Green Term Loan Facility with Galadari Sports, part of Galadari Brothers, a leading Dubai-based conglomerate, to fund the construction of a new sports complex in the emirate. The state-of-the-art facility will be built to the strict rules and parameters of Dubai Municipality's Sa'fat Gold certification for green buildings, while funding for the project aligns with Emirates NBD's Sustainable Finance Framework. Located in the Al Quoz neighborhood, the complex is among only a few privately funded developments that are targeting Sa'fat Gold certification. A flagship project for Galadari Sports, once completed, it will help to set new standards in sustainability for recreational buildings and associated infrastructure. As a key part of securing funding through Emirates NBD's Sustainable Finance Framework and official Loan Market Association (LMA) Green Loan Principles, construction of the new complex will adhere to stringent protocols governing building processes and materials, while regular environmental monitoring and annual impact reports will assess its ongoing compliance. Once completed, the new green-certified community facility will feature swimming pools, gyms, squash and padel courts, with power and utilities provided by innovative and sustainable systems including solar panels and water recycling. Emirates NBD is committed to enabling the UAE's transformation into a green, low-carbon economy through initiatives such as its Sustainable Finance Framework. Part of a wide-ranging economic empowerment strategy, Emirates NBD's Sustainable Finance Framework is aligned with the aims of the United Nations Sustainable Development Goals (SDGs) and the UAE's Vision 2030 and Net Zero 2050 plans. Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, said: This transaction between Emirates NBD and Galadari Sports is a clear and inspiring example of how sustainability-linked funding options continue to be a driving force in helping the UAE reach its Net Zero 2050 ambitions. The availability of new financing tools across sectors enables important collaborations between banking institutions and private companies, allowing for the creation of increased value through responsible, economically-empowering, and environmentally-friendly developments. Projects such as the Galadari Sports complex are at the forefront of a new wave of sustainable urban growth, with innovative green buildings – constructed according to the guiding principles of Dubai Municipality's Sa'fat Gold certification and aligned with Emirates NBD's Sustainable Finance Framework – providing essential services to communities. Mohammed Galadari, Co-Chairman and Group CEO of Galadari Brothers, said: This state-of-the-art project reflects our continued commitment to advancing sustainable development in the UAE. By investing in energy-efficient infrastructure and embracing green finance, we are proud to support the nation's Net Zero 2050 agenda while delivering long-term value to our communities. Our partnership with Emirates NBD marks a significant milestone for Galadari Brothers and reinforces our belief in the power of responsible, future-focused development. As we expand our presence in the wellness and recreation sector, sustainability will remain a core pillar of our long-term vision and growth strategy. News Source: Burson Global
