Emirates NBD, a prominent bank, has played a key role in securing a bilateral loan worth AED 750M for Dar Global, a subsidiary of the London-listed real estate company. The loan has a four-year term. According to WAM, the loan charges a competitive fixed margin over the Emirates Interbank Offered Rate (EIBOR).
Dar Global intends to utilize the funds for various purposes. These include acquiring new assets, addressing general corporate needs, and meeting working capital requirements.
This financial support will aid the company in expanding its portfolio. The expansion will focus on high-end second home and leisure developments. These developments will be in sought-after destinations across Europe and the Middle East.
Ziad El Chaar, CEO of Dar Global, said: “This new facility provides us with additional capital to accelerate our growth in key markets as we look to capitalise on sustained demand for luxury properties from internationally mobile, high net worth investors.”
Ahmed Al Qassim, Group Head of Wholesale Banking, at Emirates NBD, said: “We are pleased to structure a facility that perfectly aligns with Dar Global’s business ambitions. This milestone is a testament to our expertise in delivering comprehensive financial solutions and reinforces our commitment to be a trusted partner in rapidly evolving global markets.”
About DarGlobal
DarGlobal aims to revolutionize the global luxury real estate market by blending expertise and innovation. The company focuses on delivering top-notch properties. They specialize in the development of co-branded properties. and they develop these properties in collaboration with prestigious global brands.
About Emirates NBD
Emirates NBD, the leading Banking Group in the MENAT region, is the largest banking group in the region by assets. The Dubai Financial Market (DFM) officially lists Emirates NBD.
They help realize customers’ financial objectives through a range of banking products and services. These include retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations. By offering these diverse services, they cater to the different financial needs and goals of their customers.
