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The UAE property developer Arada has secured a $100 million five-year sustainability-linked Islamic loan with First Abu Dhabi Bank (FAB), which is guaranteed by Italy’s export credit agency SACE.
The five-year financing is Arada’s first sustainability-linked facility, which has been structured to align with its green investment goals, it said. The facility will be used for general corporate purposes and to support future project development. The master developer has a global pipeline valued at AED 130 billion.
SACE said its role as a guarantor “reaffirms its commitment to being close to Italian businesses operating in the region”, following Arada’s partnership on previous projects featuring Italian brands such as the Armani Beach Residences at Palm Jumeirah, which was launched in 2024. The Italian government agency said that deal alone will result in the import of luxury Italian furnishings valued up to 250 million dirhams ($68 million) into the UAE over the next five years.
Arada has raised over $1.5 billion in debt through sukuk issuances since 2022, with its most recent being a $450 million raise in September.
(Writing by Bindu Rai, editing by Seban Scaria)
