Emirates NBD closes club financing for UNEC's Deira Mall

  

Dubai: Emirates NBD, a leading bank in the region, successfully concluded financing amounting to AED 1.30 billion for UNEC (United Engineering Construction Company) towards building work on Dubai-based property developer Nakheel’s Deira Mall project.

Emirates NBD acted as agent bank, security agent and mandated lead arranger in the club financing arrangement that included Commercial Bank of Dubai and Arab Bank as mandated lead arrangers. The landmark deal was undertaken by Emirates NBD’s Corporate Banking Group – Contracting division.

With four million square feet of leasable area, the Dhs4.2bn Deira Mall will have the biggest shop space in Dubai when complete. Deira Mall will feature over 1,000 shops, cafes, restaurants and entertainment outlets across three floors and a multi-storey car park with 8,400 spaces. The Mall will be located at the heart of Deira Islands, Nakheel’s new 15.3 sq km waterfront city that is part of Dubai’s 2021 vision.

About Emirates NBD:

Emirates NBD is a leading banking Group in the region. As at 31st December 2017, total assets were AED 470.4 Billion, (equivalent to approx. USD 128 Billion). The Group has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry, with over 90 per cent of all financial transactions and requests conducted outside of its branches. The bank was declared the Most Innovative Financial Services Organization of the Year at the 2017 BAI Global Innovation Awards.

The bank currently has 230 branches and 1040 ATMs and SDMs in the UAE and overseas and a large social media following, being the only bank in the Middle East ranked among the top 20 in the ‘Power 100 Social Media Rankings’, compiled by The Financial Brand. It is a major player in the UAE corporate and retail banking arena and has strong Islamic Banking, Global Markets & Treasury, Investment Banking, Private Banking, Asset Management and Brokerage operations.

The Group has operations in the UAE, Egypt, the Kingdom of Saudi Arabia, India, Singapore, the United Kingdom and representative offices in China and Indonesia.

The Group is an active participant and supporter of the UAE’s main development and community initiatives, in close alignment with the UAE government’s strategies, including financial literacy and advocacy for inclusion of People with Disabilities under its #Together Limitless platform. Emirates NBD Group is an official premier partner of EXPO 2020. For more information, please visit: www.emiratesnbd.com 

For further information on Emirates NBD, please contact:
Ibrahim Sowaidan
Senior Vice President
Head - Group Corporate Affairs
Emirates NBD
Telephone: +971 4 609 4113 / +971 50 6538937
e-mail: ibrahims@emiratesnbd.com

Tricia Kaul | Shaleen Sukthankar
ASDA’A Burson-Marsteller; Dubai, UAE
Tel: 971-4-4507600; Fax: 971-4-4358040
Email: tricia.kaul@bm.com | shaleen.sukthankar@bm.com

© Press Release 2018

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