PHOTO
Dar Global, the LSE-listed real estate developer, has secured a $250 million syndicated term loan facility from Emirates NBD Capital to fund its expansion plans across “key global markets”.
Dar Global, which is majority owned by Saudi Arabia’s Dar Al Arkan Real Estate Development, said the funding will also accelerate existing projects and pursue new property developments.
Emirates NBD Capital acted as the joint mandated lead arranger, bookrunner and sole documentation agent on the deal.
In February, Dar Global announced it had held meetings in China to expand cross-border investment partnerships as Saudi Arabia’s real estate market opens to foreign non-resident investors.
(Writing by Bindu Rai, editing by Seban Scaria)
