ADIB, Aldar Properties close AED 1 billion sustainability linked financing deal

ADIB, Aldar Properties close AED 1 billion sustainability linked financing deal

ABU DHABI/ WAM Abu Dhabi Islamic Bank (ADIB) has arranged an AED 1 billion sustainable bilateral facility for Aldar Properties PJSC (Aldar). The financing takes Aldar’s total ESG financing facilities to AED 4.8 billion as the company transitions towards sustainable financing for its projects and investments. The transaction underscores both entities’ commitment to supporting environmentally ...

ABU DHABI/ WAM

Abu Dhabi Islamic Bank (ADIB) has arranged an AED 1 billion sustainable bilateral facility for Aldar Properties PJSC (Aldar).

The financing takes Aldar’s total ESG financing facilities to AED 4.8 billion as the company transitions towards sustainable financing for its projects and investments.

The transaction underscores both entities’ commitment to supporting environmentally beneficial projects aligned with the UAE Net Zero by 2050 strategic initiative.

ADIB acted as the sole facility provider and Aldar intends to utilise the proceeds to finance sustainable projects such as green buildings, property upgrades to enhance energy efficiency, sustainable water management, pollution control measures, and renewable energy sources.

Commenting on the announcement, Mohammed Al Fahim, Acting Global Head of Wholesale Banking at ADIB, said, “We are excited to support Aldar in its effort to decarbonise the real estate industry and extend our long-term relationship to support the company’s dedication to contributing to a