Emirates NBD raises syndicated facility for Dar Global to $440m

Emirates NBD raises syndicated facility for Dar Global to $440m

Dubai, UAE - Emirates NBD, a leading banking group in the Middle East, North Africa, and Türkiye (MENAT) region, has successfully upsized a syndicated facility for Dar Global Plc to a total of USD 440 million. The enhanced financing, previously known as Project Litmus, now includes an additional USD 165 million, bringing the total to USD 440 million [1].

Emirates NBD Capital acted as the Initial Mandated Lead Arranger and Bookrunner for the transaction. The upsize will support Dar Global's global expansion plans, enabling the luxury real estate developer to accelerate existing projects and pursue new property developments across key markets [1].

Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, commented, "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" [1].

The facility features several provisions and criteria to provide Dar Global with flexibility, including options to extend the loan's duration or total funding to meet the company’s future growth targets. The additional funding was supported by Emirates NBD's diverse distribution capabilities, which enabled the Bank to secure commitments from external financial institutions, including local and regional banks, prior to closing the transaction [1].

Ziad El Chaar, CEO of Dar Global, stated, "The new Litmus financing facility will strengthen Dar Global’s liquidity with an additional USD 165 million, increasing the facility to USD 440 million. 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" [1].

This transaction underscores Emirates NBD's robust structuring and underwriting capabilities, solidifying its position as a key financial partner for regional and international developers as the luxury real estate sector continues to demonstrate accelerated growth potential across major markets [1].

References:
[1] Reuters. (2025, August 25). Emirates NBD successfully upsizes syndicated facilities for Dar Global to $440mln. Retrieved from https://www.tradingview.com/news/reuters.com,2025-08-25:newsml_Zaw4PPBLL:0-pressr-emirates-nbd-successfully-upsizes-syndicated-facilities-for-dar-global-to-440mln/