Dubai - Mubasher: Emirates NBD has executed a $250 million syndicated term loan for London-listed luxury international real estate developer Dar Global, according to a press release.
Dar Global, which is majority owned by Dar Al Arkan Real Estate Development Company, secured the financing to support its global expansion plans, accelerate existing projects, and pursue new property developments across key markets.
Emirates NBD Capital acted as the joint mandated lead arranger, bookrunner, and sole documentation agent to implement the deal.
Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, highlighted: "The strong participation from a broad group of lenders reflects deep distribution across our network and continued appetite for real estate-linked credit.”
Ziad El Chaar, CEO of Dar Global, said: “This facility, structured with Emirates NBD, brings together a strong group of financial institutions supporting Dar Global’s continued growth. It enhances our liquidity and provides the flexibility to advance our existing developments while maintaining a disciplined and selective approach to new opportunities.”
Emirates NBD recently joined forces with Sobha Realty to offer integrated home financing solutions for buyers of Sobha’s off-plan residential developments across Dubai.
