Aldar Properties has secured a Dh9 billion ($2.45 billion) sustainability-linked syndicated revolving credit facility (RCF), marking the largest such deal by a real estate company in the Middle East.
This five-year, multi-tranche RCF includes both conventional and Islamic components in AED and USD currencies, enhancing Aldar’s financial flexibility to support its growth initiatives.
The facility attracted participation from 15 international and regional financial institutions.
“This syndicated facility is a significant milestone that underscores Aldar’s financial strength and our ability to attract funding from a wide range of high-quality institutional sources,” said Faisal Falaknaz, Group Chief Financial and Sustainability Officer at Aldar. “It reflects the trust and confidence that global and regional banks place in our business model and trajectory of accelerated growth.”
This transaction follows Aldar’s recent Dh3.67 billion ($1 billion) hybrid notes issuance, further reinforcing the company’s capital structure and resilience amid its ongoing expansion.
The facility is linked to sustainability performance indicators, demonstrating Aldar’s commitment to environmental, social, and governance (ESG) targets and responsible business practices.
Aldar has been actively pursuing sustainable financing options. In December 2023, the company secured a Dh1 billion sustainability-linked financing agreement with Abu Dhabi Islamic Bank, bringing its total ESG-linked financing to Dh4.8 billion.
