Dubai - Mubasher: Emirates NBD has upsized syndicated conventional and Islamic term facilities for Dar Global, the wholly-owned subsidiary of Dar Al Arkan Real Estate Development Company, by $165 million, bringing the total amount to $440 million.
The Saudi developer will use the additional liquidity to accelerate ongoing projects and pursue new developments across key international markets, according to a press release.
It is worth noting that Emirates NBD Capital acted as the initial mandated lead arranger and bookrunner, leading the enhancement to support Dar Global’s global expansion.
Ahmed Al Qassim, Group Head of Wholesale Banking, 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.”
Around half of the additional funding came from local and regional banks. The facility offers flexibility for Dar Global to extend the loan’s term or increase funding to support 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,” the CEO added.
During the first half (H1) of 2025, Emirates NBD recorded 12% higher net income valued at AED 23.90 billion.
At the end of June 2025, Dar Al Arkan registered an annual surge of 40.55% in net profits to SAR 447.96 million, versus SAR 318.71 million.
