Aldar Properties has secured a Dh9 billion ($2.45 billion) sustainability-linked syndicated revolving credit facility (RCF), marking the largest ESG-linked financing in the Middle East real estate sector. This five-year facility includes both conventional and Islamic tranches in AED and USD, enhancing Aldar’s financial flexibility to support growth initiatives.
Fifteen international and regional financial institutions participated in the transaction, underscoring strong confidence in Aldar’s business strategy.
“This syndicated facility highlights Aldar’s financial strength and our ability to attract funding from high-quality institutional sources,” said Faisal Falaknaz, Group Chief Financial and Sustainability Officer at Aldar.
The facility is tied to sustainability performance indicators, reinforcing Aldar’s commitment to environmental, social, and governance (ESG) goals.
The Dh9 billion facility adds to Aldar’s recent sustainability-linked financing initiatives, including a Dh1 billion agreement with Abu Dhabi Islamic Bank in December 2023. These efforts have brought Aldar’s total ESG-linked financing to Dh4.8 billion.
In addition, Aldar issued Dh3.67 billion ($1 billion) in hybrid notes last year, further strengthening its capital structure and supporting its expansion amid an increasingly competitive market.
