Aldar Properties has secured an AED 9B (USD 2.45B) sustainability-linked syndicated senior unsecured multi-tranche revolving credit facility (RCF). This marks the largest sustainability-linked syndicated financing deal completed by a real estate company in the Middle East.
The agreement follows Aldar’s successful AED 3.67B (USD 1B) hybrid notes issuance earlier this month. Together, these transactions enhance Aldar’s capital structure and financial resilience, ensuring the company is positioned to execute its ambitious growth strategy. The facility, six times larger than any of Aldar’s recent single-bank financings, was arranged at a historically low credit spread, further reinforcing its balance sheet strength.
Faisal Falaknaz, Group Chief Financial and Sustainability Officer at Aldar, said, “This syndicated facility marks a significant milestone that highlights Aldar’s financial robustness and our ability to attract funding from high-quality institutional sources. It demonstrates the trust global and regional banks have in our business model and accelerated growth trajectory.”
The syndication attracted commitments from 15 international and regional banks, including First Abu Dhabi Bank, HSBC, J.P. Morgan, and Emirates NBD. The five-year facility, comprising both conventional and Islamic tranches in AED and USD, enhances Aldar’s financial flexibility to support its expansion.
Additionally, the facility incorporates sustainability-linked KPIs, underlining Aldar’s commitment to measurable ESG targets and responsible business practices.