The «Dar» Group has successfully closed a renewed syndicated sustainability-linked financing of AED 5 billion, equivalent to USD 1.36 billion, for a five-year tenor. It is multi-tranche and unsecured. The transaction attracted the participation of 10 prominent local, regional, and international financial institutions, reflecting the strong confidence in Dar's creditworthiness, the flexibility of its diversified business model, and the strength of the foundations of the UAE economy and its real estate market. This financing increases Dar's available liquidity to AED 38.2 billion, comprising AED 13.9 billion in cash balances and AED 24.4 billion in undrawn committed facilities. The average maturity of the group's senior debt is five years, while the average maturity of the undrawn committed facilities is three and a half years. Faisal Falcanaz, Group Chief Financial and Sustainability Officer at Dar, commented: «This transaction reflects the strength and stability of the Group's business and the diversity of its operations, affirming the robustness of its relationships with local, regional, and international financial institutions.» He explained that the loan syndication and order book building process, which kicked off in February, proceeded as planned with the support of leading banks that renewed their commitment to Dar and the UAE economy. He noted that this exceptional level of liquidity will enable the Group to continue executing its strategic priorities across its development and investment platforms, in addition to serving communities and delivering sustainable, long-term economic value for all stakeholders. The financing was participated in by a consortium of international, regional, and local financial institutions, including new lenders. The facility structure provides the utmost flexibility to participating banks, broadens the demand base through tranches in dirhams and dollars, as well as conventional and Sharia-compliant structures, and is linked to Dar's sustainability initiatives.
