Emirates NBD has efficiently concluded AED3.9bn ($1.06bn) in Syndicated Bonding Services for the consortium accountable for delivering Dubai’s landmark Metro Blue Line Mission, reinforcing its place because the main banking companion for the UAE’s most formidable infrastructure developments.
The consortium—comprising MAPA, LIMAK, and CRRC—was awarded the contract by Dubai’s Street and Transport Authority (RTA) to design and construct the Blue Line, a key pillar of the Dubai 2040 City Grasp Plan.
Dubai Metro Blue Line finance
Your complete challenge is valued at AED20.5bn ($5.58bn) and goals to revolutionise mobility throughout the emirate.
Scheduled for completion by September 2029, the Dubai Metro Blue Line will join seamlessly with town’s present Pink and Inexperienced Strains, integrating with Dubai’s wider transport system together with buses and taxis.
As soon as operational, the electrified metro line is projected to serve 350,000 each day passengers by 2040, considerably easing site visitors congestion and bettering commuter comfort throughout town.
Aligned with the Emirates NBD Sustainable Finance Framework, the financing qualifies as Inexperienced Financing underneath the “Clear Transportation” class, supporting Dubai’s dedication to eco-friendly infrastructure and concrete improvement.
Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, mentioned: “The Dubai Metro ‘Blue Line’ Mission is a milestone endeavor that can strategically and considerably empower the continual improvement of the emirate by offering a rising inhabitants with new, environment friendly, accessible, and dependable public transportation and mobility options.
“This main transaction positions Emirates NBD’s standing because the go-to banking companion for various mega initiatives which are reworking Dubai’s panorama, capabilities, and international enchantment.”
Murathan Doruk Günal, Vice President and CEO at MAPA, mentioned: “We’re proud to be a part of this landmark infrastructure challenge, which is an integral a part of the Dubai 2040 City Grasp Plan launched by His Highness Sheikh Mohammed Bin Rashid Al Maktoum.
“The profitable closing of the financing with Emirates NBD marks a key milestone and displays the belief positioned in our consortium’s skill to ship complicated, high-impact initiatives.”
Serdar Bacaksız, Board Member at Limak Group of Corporations, mentioned: “The brand new Metro Blue Line Mission is a testomony to Dubai’s forward-thinking method to city improvement. Limak is honoured to be a key companion on this transformative journey, collaborating with our esteemed colleagues.”
The Metro Blue Line is ready to be a transformative addition to town’s world-class public transport infrastructure, serving to ship on the promise of a sensible, built-in, and sustainable future for one of many world’s fastest-growing cities.
Stations underneath the Dubai Metro Blue Line will cowl areas of:
- Dubai Creek Harbour
- Ras Al Khor industrial are
- Dubai Worldwide Metropolis 1
- Dubai Worldwide Metropolis 2 and three
- Dubai Silicon Oasis
- Dubai Worldwide Tutorial Metropolis
- Mirdif Metropolis Centre
- Al Warqa’a
The brand new line is predicted to serve over a million individuals dwelling within the areas it should join as soon as operational. It’s also anticipated to learn over 50,000 college students.
As soon as operational, the Blue Line will assist ease site visitors congestion on key Dubai roads throughout the challenge by 20 per cent.
