ADIB, Aldar Properties close Dhs1b sustainability-linked financing deal – Gulf Today

ADIB, Aldar Properties close Dhs1b sustainability-linked financing deal – Gulf Today

Top officials during the signing ceremony.

Abu Dhabi Islamic Bank (ADIB) has arranged an Dhs1 billion sustainable bilateral facility for Aldar Properties (Aldar).

The financing takes Aldar’s total ESG financing facilities to Dhs4.8 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 low carbon economy. The closure of the Dhs 1 billion Sustainable Finance Facility is a testament to ADIB’s commitment to sustainability and demonstrates how the financial sector can play an active role in expediting the nation’s green transition. ADIB remains committed to empower companies to embrace more sustainable practices. ADIB’s ongoing efforts to