Emirates NBD has increased syndicated conventional and Islamic term facilities for Dar Global, the wholly-owned subsidiary of Saudi developer Dar Al Arkan Real Estate Development Company, by $165 million, raising the total facility to $440 million.
The additional funds will support Dar Global in accelerating ongoing projects and pursuing new developments across key international markets, according to a company statement. Emirates NBD Capital served as the initial mandated lead arranger and bookrunner, overseeing the facility enhancement to aid Dar Global’s global growth strategy.
Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, said: “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.”
Approximately half of the extra funding came from local and regional banks, providing Dar Global with the flexibility to extend the loan term or increase funding to back future growth.
Ziad El Chaar, CEO of Dar Global, commented: “Underwritten by Emirates NBD and supported by ADCB, FAB and Zand Bank, the structure is secured by pledge of shares and backed by corporate guarantees. This enhanced liquidity will accelerate the company’s existing projects and enable greater flexibility in pursuing new opportunities across the Middle East, Europe and North America, reinforcing long-term resilience and execution capacity.”
Emirates NBD reported a 12% rise in net income during H1 2025, reaching AED 23.90 billion.
