A Syndicate Of Mashreq, DIB And Emirates NBD Refinances Dh11 Billion.
The Dubai professional developer has secured financing for a new round of projects. Including Dubai Islands, and will raise an additional Dh6 billion (which is the reworked Deira Islands). Dubai Islamic Bank, Mashreq Bank, and Emirates NBD formed a syndicate to refinance Dh11 billion. Displaying “strong financial foundations and long-term growth prospects” for the company.
Nakheel recently confirmed a new approach it was taking with its projects, with a focus on developing lifestyle destinations. The developer recently declared that it would make good use of its ownership of the waterside land bank as new home buyers. Particularly the worlds wealthy, start to invest in Dubai’s real estate market.
According to a Nakheel spokesperson, the transactions will further the company’s financial position and demonstrate the confidence of banking institutions in its new strategic focus. The issuance of long-term visas and other regulatory reforms. As well as a booming economy supported by the robust growth of commerce, leisure, and hospitality. That are driving Dubai real estate sector’s rapid growth, the spokesperson continued.
We are entering a new phase of growth where we put our customers at the center of everything we do. As Dubai’s first master development company with high-performing assets in these central economic sectors. Our dedication to creating exceptional communities, enhancing customer-focused services, and providing value at every touchpoint will be what distinguishes this new era of Nakheel. Other UAE developers, such as Arada in Sharjah and Union Properties in Dubai, have refinanced existing debt or taken on new debt.