Dubai Metro Blue Line: Emirates NBD gives green light for funding on $5.6bn transport megaproject
Emirates NBD has successfully concluded AED3.9bn ($1.06bn) in Syndicated Bonding Facilities for the consortium responsible for delivering Dubai's landmark Metro Blue Line Project, reinforcing its position as the leading banking partner for the UAE's most ambitious infrastructure developments.
The consortium—comprising MAPA, LIMAK, and CRRC—was awarded the contract by Dubai's Road and Transport Authority (RTA) to design and build the Blue Line, a key pillar of the Dubai 2040 Urban Master Plan.
Dubai Metro Blue Line finance
The entire project is valued at AED20.5bn ($5.58bn) and aims to revolutionise mobility across the emirate.
Scheduled for completion by September 2029, the Dubai Metro Blue Line will connect seamlessly with the city's existing Red and Green Lines, integrating with Dubai's wider transport system including buses and taxis.
Once operational, the electrified metro line is projected to serve 350,000 daily passengers by 2040, significantly easing traffic congestion and improving commuter convenience across the city.
Aligned with the Emirates NBD Sustainable Finance Framework, the financing qualifies as Green Financing under the 'Clean Transportation' category, supporting Dubai's commitment to eco-friendly infrastructure and urban development.
Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, said: 'The Dubai Metro 'Blue Line' Project is a milestone undertaking that will strategically and significantly empower the continuous development of the emirate by providing a rising population with new, efficient, accessible, and reliable public transportation and mobility solutions.
'This major transaction positions Emirates NBD's status as the go-to banking partner for diverse mega projects that are transforming Dubai's landscape, capabilities, and global appeal.'
Murathan Doruk Günal, Vice President and CEO at MAPA, said: 'We are proud to be part of this landmark infrastructure project, which is an integral part of the Dubai 2040 Urban Master Plan launched by His Highness Sheikh Mohammed Bin Rashid Al Maktoum.
'The successful closing of the financing with Emirates NBD marks a key milestone and reflects the trust placed in our consortium's ability to deliver complex, high-impact projects.'
Serdar Bacaksız, Board Member at Limak Group of Companies, said: 'The new Metro Blue Line Project is a testament to Dubai's forward-thinking approach to urban development. Limak is honoured to be a key partner in this transformative journey, collaborating with our esteemed colleagues.'
The Metro Blue Line is set to be a transformative addition to the city's world-class public transport infrastructure, helping deliver on the promise of a smart, integrated, and sustainable future for one of the world's fastest-growing cities.
Stations under the Dubai Metro Blue Line will cover areas of:
Dubai Creek Harbour
Ras Al Khor industrial are
Dubai International City 1
Dubai International City 2 and 3
Dubai Silicon Oasis
Dubai International Academic City
Mirdif City Centre
Al Warqa'a
The new line is expected to serve over one million people living in the regions it will connect once operational. It is also expected to benefit over 50,000 students.
Once operational, the Blue Line will help ease traffic congestion on key Dubai roads within the project by 20 per cent.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The National
23 minutes ago
- The National
Personal banking needs to be a smoother experience
One of the maxims of personal finance has it that 'time is more valuable than money'. But what happens when time is spent chasing your own money. Which one is more valuable then? An administrative knot I've been caught in recently made me question that adage. The whole episode delivered lessons about unexpected friction within the banking system and the disconnect that still happens in modern customer care and service. It also offers takeaways about flexibility and mobility in modern economies. The problem involved my wife changing jobs in Abu Dhabi and the fact that both our salaries are paid into a joint account domiciled with one of the UAE's main banks. My partner left her old job at the end of one week, was paid her end-of-service that weekend and started her new role at the start of the following week. Soon after that final salary payment from the old employer was received, the bank said it had blocked the amount in the joint account and advised us to submit several documents in person at our nearest branch, including her new contract details and a salary certificate. These needed to be supported by documents showing I was still in employment, too. This paperwork was lodged at the branch and then sent off by a staff member to the head office for review. A couple of calls to the bank over the next 48 hours provided assurances that the process would soon be complete. However, our credit cards were later blocked due to the ongoing review of our documents. I'd imagine that most of us run parts of our lives through the subscription economy, so at least one regular payment to a provider was declined during this pending period, adding another layer of hassle. By the end of the week, the blocked amount was released from the joint account but our credit cards were still inactive. The bank also decided to unilaterally transfer funds from our current account to pay off the entire outstanding amount on our credit card. By this point, our money was more valuable than our time and each action triggered a reaction, meaning another call to customer care. At the beginning of the following week, normal service was restored and the credit cards were unblocked, but only after several hours on multiple calls and two trips to the branch. Reading this, regular readers of these pages may arrive at the conclusion that this contributor is both hapless and hopeless when it comes to personal finance problems and challenges. We need to move beyond interpreting the receipt of an end-of-service payment as indicating a significant change in an account holder's risk profile Years ago, my credit card was scammed and I documented my long-term struggles to get the money back. I also lost money when a legitimate investment fund scheme went south, and I have previously espoused the benefits of going into the branch to sort out a financial issue, even though it wasn't especially useful on this occasion. I'd also really rather not write cheques anymore because the bank doesn't recognise my signature in the form that I scribble it these days, which opens up another layer of hassle. Personal finance experts recommend couples maintain separate accounts rather than being reliant on a joint account, despite it being the practice for some households to manage budgets and payments through one account. One expert previously told The National in an advice column that couples 'should maintain at least two banking relationships in the UAE, just in case your bank gets annoyed with you or you get annoyed with the bank'. Sage advice, although not something I was aware of until I was deep in the hole described above. There is no question that lack of knowledge is on me. But there are also several other observations to be made. The way the bank's systems are set up appear to be rooted in the traditional arc of someone finishing a job in the UAE, receiving a final payment and leaving the country some time afterwards. We know that the economy is far more dynamic now, which leads me to think that systems and processes need to match contemporary realities. We also know that this country is a global beacon for talent and that more and more people see their lives and their future here. For many people, that future will involve switching jobs or entities regularly to maximise their opportunities. Furthermore, we know that there is an ambition and an intention to progress end-of-service payments into investment vehicles, but if a bank treats a final salary payment as an unusual transaction and blocks those funds, then that action suggests there is a course correction needed to get vision and reality in sync. We need to move beyond interpreting the receipt of an end-of-service payment as indicating a significant change in an account holder's risk profile. In the balance between trust and verification, the former should be the guiding light. Most personal banking is predicated on customer relations, but there can be too many points of tension in that relationship and very obvious imbalances in terms of information flow. Dynamic economies and opaque bureaucracy are not the right mix. The whole episode also provided a reminder of how efficient other parts of our lives are. Abu Dhabi's Tamm app is widely recognised as a smart, time-saving digital attendant that provides a seamless service for renewing licences, paying tolls and managing many other facets of daily life. It is an elegant solution that removes friction from personal administrative work. We need more of that, please, in personal banking.
Zawya
23 minutes ago
- Zawya
UAE participates in 3rd G20 Finance Ministers and Central Bank Governors meeting in South Africa
Mohamed bin Hadi Al Hussaini: The UAE is committed to strengthening the international financial structure and supporting emerging markets and developing economies (EMDEs) DURBAN, South Africa: The UAE, represented by the Ministry of Finance and the Central Bank of the UAE, is participating in the 3rd meeting of G20 Finance Ministers and Central Bank Governors (FMCBG), held under the presidency of South Africa for the year 2025. The meeting took place in the city of Durban, bringing together representatives of G20 member states, invited countries, and international organisations. Led by H.E. Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, the UAE delegation featured H.E. Younis Haji AlKhoori, Undersecretary of the Ministry of Finance; H.E. Ebrahim Obaid Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability at the Central Bank of the UAE; and Ali Abdullah Sharafi, Acting Assistant Undersecretary for International Financial Relations at the Ministry of Finance. Sustainable finance The meeting is set to explore the progress made on the 2025 priorities set by the South African presidency of the G20. It will conclude with the adoption of the official communique, which the UAE contributed to through working group comments and participation in Deputy-level drafting meetings. The discussions covers a wide range of topics, including the global macroeconomic outlook, international financial architecture, infrastructure development, international taxation, impediments to growth and development in Africa, sustainable finance, financial sector issues and financial inclusion. Strategic platform H.E. Mohamed bin Hadi Al Hussaini stated that the 3rd G20 Finance Ministers and Central Bank Governors Meeting provided a strategic platform for strengthening international coordination on global economic and financial issues as well as for advancing joint efforts to achieve economic stability and support sustainable development. He noted that the UAE's participation aimed to support the Group's global objectives and contribute actively to the development of international economic and financial policies. His Excellency emphasised the importance of adopting effective policies that ensure macroeconomic stability, including targeted fiscal support, improved institutional quality, and enhanced labour market efficiency. He stressed that the UAE is committed to strengthening the international finance structure, supporting emerging markets and developing economies (EMDEs (. This, he noted, can be achieved by reducing investment risks, mobilising private capital, providing targeted financial support, strengthening local markets, advancing structural reforms, and fostering international cooperation, efforts that collectively enhance global financial stability. H.E. Al Hussaini added that the UAE continues to pursue proactive financial policies to reinforce this approach, further contributing to long-term sustainable development. Strengthening financial markets His Excellency welcomed the progress made on international tax reform through the BEPS Action Plan, highlighting the UAE's commitment to building fair and sustainable tax systems through the country's involvement in the UN Framework Convention on International Tax Cooperation. The Minister also underscored the need to boost private sector participation in infrastructure, improve access to affordable capital through more inclusive financial markets, and advance governance and institutional capacity, highlighting these as key policy priorities to drive growth and development in Africa. Al Hussaini affirmed that policy coherence, institutional capacity, and reliable climate data are essential to overcoming barriers to sustainable finance, highlighting the UAE's experience in addressing insurance protection gaps through climate risk assessments and premium pricing frameworks and collaborative approach among financial regulators. Finance and Central Bank Deputies meetings On the sidelines of the G20 FMCBG meetings, the UAE attended the G20 Finance and Central Bank Deputies meetings on 14-16 July to discuss the statement of the G20 FMCBG. Discussions also covered recent multilateral development bank developments, pandemic response financing, growth and development in Africa, and additional communique drafting sessions of the G20. The UAE is taking part in the G20's activities 2025, which will conclude with the Leaders' Summit later this year. This marks the country's sixth participation in the G20 Summit process, following previous invitations as a guest country in France (2011), Saudi Arabia (2020), Indonesia (2022), India (2023), and Brazil (2024).
Zawya
23 minutes ago
- Zawya
ADI Foundation launches a testnet for the world's first sovereign blockchain powered by GPU Computing
RELATED TOPICS UNITED ARAB EMIRATES RELATED COMPANIES CBUAE Abu Dhabi Dev. Natwest Grp Engineered and launched from the UAE capital, ADI Chain symbolizes Abu Dhabi's rise as a global hub for sovereign digital infrastructure. Solving the Web3 Trilemma & Unlocking New Real-World Use Cases. ADI Chain aims to serve as the backbone for digital services across finance, identity, healthcare, sustainability, and other real-world sectors. ABU DHABI, UNITED ARAB EMIRATES – The ADI Foundation today announced the beginning of a public testnet launch of ADI Chain, built to be the world's fastest blockchain infrastructure powered by GPU computing; a global first in decentralized technology, born in Abu Dhabi and designed for the world. The testnet implementation demonstrates world-class proving performance, and it is set to be the fastest proof system to be used in production. Abu Dhabi is setting a new global standard; one that combines cutting-edge innovation with a mission to deliver trusted, next-generation infrastructure across emerging markets. From smart automation of core protocols to performance tuning, data validation and availability, ADI Chain's AI-engineered protocol unlocks entirely new capabilities for governments, enterprises, and developers alike. The use of GPUs allows for deeper on-chain intelligence, real-time network adaptation, and more sustainable infrastructure at scale. ADI Chain is not only built to be a technological breakthrough, it also solves one of the most persistent problems in Web3 Trilemma and delivers a sustainable 2000TPS (with the potential for future growth) and sub-0.00001$ transaction fees in approximate. These performance advancements represent more than just numbers - they signify a revolutionary future where blockchains seamlessly interact and settle transactions in real-time, enabling developers to build robust client-side applications with localized proof generation capabilities. This bold leap in technology also unlocks use cases that were previously impossible on traditional blockchain infrastructures such as Real-Time AI-Driven Financial Trading, Dynamic AI-Controlled Gaming Economies and Privacy-Preserving Identity Systems. 'ADI Chain represents a step-change in how nations and institutions can harness cutting-edge technology for real-world impact,' said Dame Alison Rose, Council Member to the ADI Foundation and former CEO of NatWest Group. 'This is the first time we've seen AI and GPU computing converge to build decentralized infrastructure from the ground up and it's happening in Abu Dhabi. The potential to drive inclusive economic participation and digital sovereignty across emerging markets is extraordinary.' ADI Chain aims to serve as the backbone for digital services across finance, identity, healthcare, sustainability, and other real-world sectors, starting with its integration into the Dirham-backed stablecoin project being developed in collaboration with leading UAE institutions including FAB, ADQ, and IHC, and to be regulated by the Central Bank of the UAE. The public testnet is now live, and builders, institutions, and partners are invited to participate in shaping the future of blockchain; AI engineered, powered by GPUs, and launched proudly from Abu Dhabi. About ADI Foundation ADI Foundation is an Abu-Dhabi based non-profit organization founded by Sirius International Holding (a subsidiary of IHC), dedicated to empowering governments and institutions in emerging markets through blockchain infrastructure and partnerships needed to unlock sovereign digital economies and drive large-scale social and economic inclusion. Its mission is to bring 1 billion people into the digital economy by 2030, building on a strong foundation of 400+ million people already within its reach. Through strategic partnerships in over 20 countries and a growing portfolio of use cases such as a new UAE stablecoin backed by Dirhams, ADI is redefining what is possible at the intersection of technology and impact. Positioned in Abu Dhabi which is rapidly emerging as the Silicon Valley of inclusive tech-finance, ADI Foundation is proud to lead the transformation by turning visionary policy into practical, scalable systems that empower people, businesses, and governments alike.
