Emirates NBD Concludes AED 3.9B Blue Line Financing
Emirates NBD, a banking group in the Middle East, North Africa, and Türkiye (MENAT) region, has announced the conclusion of AED 3.9 billion in syndicated bonding facilities. The financing was extended to a consortium formed by MAPA, LIMAK, and CRRC to support the new Dubai Metro Blue Line project.
The Roads and Transport Authority (RTA) had earlier awarded the design and build contract for the Blue Line to the consortium. Emirates NBD engaged closely with the group through a comprehensive and collaborative process.
Valued at AED 20.5 billion, the Dubai Metro Blue Line is part of the emirate's 2040 Urban Master Plan. It aims to enhance Dubai's public transport network, reduce traffic congestion, and connect key urban areas more efficiently.
The project is expected to be completed by September 2029. Once operational, it will serve around 350,000 daily passengers by 2040. It will also provide seamless links to the existing Red and Green metro lines, as well as bus and taxi routes.
The Blue Line is designed as a state-of-the-art electrified railway and qualifies as Green Financing under Emirates NBD's Sustainable Finance Framework, specifically within the 'Clean Transportation' category.
Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, said the project is a major milestone. He emphasized the bank's role in supporting Dubai's development through reliable and innovative financial solutions.
Murathan Doruk Günal, Vice President & CEO at MAPA, highlighted the consortium's commitment to Dubai's sustainable growth. He noted the successful financial closing as a key achievement.
Serdar Bacaksız, Board Member at Limak, added that the Blue Line reflects Dubai's progressive urban vision. He confirmed Limak's dedication to delivering high-impact infrastructure and enhancing connectivity. Emirates NBD provided AED 3.9 billion in syndicated bonding facilities
Project aligns with Dubai 2040 Urban Master Plan and clean transport goals
Completion set for September 2029, serving 350,000 daily passengers by 2040
The bank reiterated its position as a strategic partner in transformative infrastructure initiatives that shape the future of Dubai.
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