Emirates NBD partners with Mapa İnşaat ve Ticaret A.Ş., Limak İnşaat Sanayi ve Ticaret A.Ş. and CRRC (Hong Kong) Co. Limited
RTA awarded a consortium of MAPA, LIMAK, and CRRC – the design and build project for the Dubai Metro Blue Line Project. As such, Emirates NBD engaged with the consortium as part of a seamless, comprehensive, and collaborative process.
Valued at AED 20.5 billion, the landmark infrastructure initiative is a key component in Dubai's 2040 Urban Master Plan to create, develop, and expand a world-class network of public transportation services and mobility solutions that connects communities with key locations, alleviates traffic congestion, and enables easier movement of people around the emirate.
Scheduled for completion by September 2029, the Dubai Metro Blue Line will provide seamless connections with the existing Red and Green Metro lines, as well as bus and taxi routes. The project, which was officially announced by the RTA at the end of last year, will serve approximately 350,000 daily passengers by 2040.
As a state-of-the-art electrified railway network, the Dubai Metro Blue Line project aligns with the Emirates NBD Sustainable Finance Framework, qualifying as Green Financing under the 'Clean Transportation' category.
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 & 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. At MAPA, we remain committed to contributing our engineering expertise and project-execution capabilities to support Dubai's vision of sustainable and integrated urban development."
Serdar Bacaksız, Board Member at Limak Group of Companies, stated: 'The new Dubai Metro Blue Line Project is a testament to Dubai's forward-thinking approach to urban development. Limak is honored to be a key partner in this transformative journey, collaborating with our esteemed colleagues. This financing agreement with Emirates NBD is a crucial milestone, empowering us to bring our global expertise, insights and innovative solutions to life, and contribute to Dubai's ambition for a seamlessly connected, sustainable city. Limak's proven track record in delivering complex, large-scale infrastructure projects across the globe will be a significant asset to the Blue Line's success. We are deeply committed to delivering a world-class transportation experience that will enrich the lives of Dubai's residents and visitors for generations to come.'
About Emirates NBD
Emirates NBD (DFM: Emirates NBD) is a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region with a presence in 13 countries, serving over 9 million active customers. As of 31st March 2025, total assets were AED 1 trillion, (equivalent to approx. USD 272 billion). The Group has operations in the UAE, Egypt, India, Türkiye, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 839 branches and 4,539 ATMs / SDMs. Emirates NBD is the leading financial services brand in the UAE with a Brand value of USD 4.54 billion.
Emirates NBD Group serves its customers (individuals, businesses, governments, and institutions) and helps them realise their financial objectives through a range of banking products and services including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations. The Group is a key participant in the global digital banking industry with 97% of all financial transactions and requests conducted outside of its branches. The Group also operates Liv, the lifestyle digital bank by Emirates NBD, with close to half a million users, it continues to be the fastest-growing bank in the region.
Emirates NBD contributes to the construction of a sustainable future as an active participant and supporter of the UAE's main development and sustainability initiatives, including financial wellness and the inclusion of people of determination. Emirates NBD is committed to supporting the UAE's Year of Sustainability as Principal Banking Partner of COP28 and an early supporter to the Dubai Can sustainability initiative, a city-wide initiative aimed to reduce use of single-use plastic bottled water.
For further information on Emirates NBD, please contact:
Ibrahim Sowaidan
Senior Vice President
Head - Group Corporate AffairsEmirates NBD
e-mail: ibrahims@emiratesnbd.com
Burson
Dubai, UAE
Email: emiratesNBDWB@bursonglobal.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
an hour ago
- Khaleej Times
New licensing options, FDI surge power DMCC's growth
Dubai Multi Commodities Centre (DMCC) delivered a strong performance in the first half of 2025, adding more than 1,100 new companies to its global business district as it capitalised on rising foreign direct investment (FDI) flows and the launch of new licensing structures tailored to global investors. The new additions lift DMCC's total membership close to 26,000, reinforcing its status as a leading hub for trade, technology and investment. The growth was fuelled by heightened demand from overseas markets such as the United Kingdom, Türkiye and China, which together accounted for some of the highest registration gains in recent years. The UK saw a 23 per cent increase in company numbers to nearly 2,200, Türkiye registered a 22 per cent rise to about 700 firms, and Chinese membership climbed almost 10 per cent to nearly 1,000. These gains align with Dubai's position as one of the world's top destinations for FDI inflows, with DMCC contributing 15 per cent of the emirate's annual total. Two new licensing categories — Special Purpose Vehicles (SPVs) and Holding Company licences — have emerged as a major draw for investment firms, family offices and multinational corporations. The SPV licence offers a flexible vehicle for asset holding, capital raising and cross-border structuring, while the Holding Company licence enables centralised oversight of regional operations and portfolio companies. Both are designed to accommodate a broad range of investment strategies, from private equity to high-growth venture capital, making DMCC a preferred jurisdiction for structuring international investments. Ahmed bin Sulayem, executive chairman and chief executive officer of DMCC, said the results reaffirm the appeal of its business model. 'With more than 1,100 new companies joining in the first half of the year — driven by robust growth from China, Türkiye, and the UK — DMCC is now rapidly approaching 26,000 member companies. We are intensifying our focus on high-growth sectors while expanding our ecosystems, service offering, and physical infrastructure to support the next wave of innovation-led investment,' says Ahmed bin Sulayem The licensing reforms have also strengthened DMCC's role as a hub for high-growth industries. The DMCC Crypto Centre saw a 38 per cent year-on-year increase to more than 700 companies, bringing the total number of technology firms in the district to over 3,300. Notable entrants include and Animoca Brands, which set up their first regional offices in the free zone. DMCC also announced the construction of Crypto Tower, a 17-storey landmark in Jumeirah Lakes Towers (JLT) that will house blockchain incubators, an AI innovation floor and specialised financial services. In addition, DMCC is developing a new quantum technology ecosystem — DMCC Quantum — aimed at positioning Dubai as a gateway for advanced computing investment. These moves build on the free zone's expanding role in Web3, artificial intelligence, gaming and blockchain applications. Beyond technology, DMCC remains a key player in commodities trade. The Dubai Diamond Exchange, which now hosts over 1,350 companies, marked the milestone of one billion carats traded through the UAE over the past five years. The launch of the DMCC Water Centre and a strategic partnership with AQUA-INDEX to create the world's first water-backed digital asset token illustrate DMCC's push into emerging commodities and sustainability-linked investment. The free zone's international expansion strategy is also delivering results. In Southeast Asia, DMCC appointed Hawksford as its international sales partner in Singapore to enhance market penetration. In China, partnerships with Beijing Innovation Service Hub and Beijing Chaoyang CCPIT are expected to deepen trade and investment flows. Real estate development underpins DMCC's ability to accommodate FDI-driven growth. In Uptown Dubai, the free zone broke ground on two new Grade A commercial towers offering 62,000 square metres of office space, as well as Mercer House, a luxury twin-tower residential project featuring Dubai's first private urban beach club. In JLT, DMCC and Signature Developers began construction of W Residences by Marriott International, further enhancing the district's mixed-use appeal. Deputy CEO and chief operating officer Feryal Ahmadi said the results stem from DMCC's long-term planning. 'From real estate to technology and trade, every layer of our district is designed to meet global demand. As we move into the second half of the year, we will continue to expand our services, accelerate infrastructure delivery and unlock new opportunities for growth across all sectors, ' says Ahmadi. With a growing global footprint, sectoral diversification, and infrastructure pipeline, DMCC is positioning itself to capture the next wave of FDI across emerging and established industries, while reinforcing Dubai's role as a magnet for global capital, investment experts said. The strong first-half results follow a record-breaking 2024, when DMCC attracted over 2,000 new companies and launched initiatives such as the DMCC Sustainability Hub.
UAE Moments
2 hours ago
- UAE Moments
Kuwait Grants Visa-on-Arrival Access to All GCC Foreign Residents
In a major policy shift aimed at boosting tourism and regional mobility, Kuwait has announced that all foreigners residing in Gulf Cooperation Council (GCC) states are now eligible for a tourist visa on arrival at all entry points. The decision, issued Sunday by Interior Minister Sheikh Fahad Al-Yousef Al-Sabah and published in the official gazette Kuwait Al-Youm, takes immediate effect. The new visa will be valid for 90 days and is open to residents of Saudi Arabia, the United Arab Emirates, Oman, Qatar, and Bahrain, provided their GCC residency permit is valid for at least six months. This move replaces 2008 regulations that limited visa-on-arrival eligibility to specific professional categories such as doctors, engineers, judges, and executives. With the change, more than 25 million foreign residents in the GCC can now visit Kuwait with ease. Kuwait has long allowed nationals from many European, North American, select Latin American, and major Asian countries—including China, Japan, South Korea, and Singapore—to obtain visas on arrival. The announcement is part of a wider effort over the past 15 months to ease visa restrictions for foreigners. The country has relaxed family visit rules, enabling expatriates to bring close relatives such as spouses, children, and parents for up to one month. It has also simplified procedures for hotels to sponsor visitors and for companies to secure business visas for foreign partners. The reform is expected to significantly boost tourism, business travel, and cultural exchange within the Gulf, positioning Kuwait as a more open and accessible destination in the region.
Arabian Business
2 hours ago
- Arabian Business
Dubai property sales hit $14bn in July as off-plan demand and rents surge, top developers revealed
Dubai's residential real estate market continued its upward trajectory in July 2025, with Betterhomes reporting strong growth in both sales and leasing, driven by robust off-plan demand and an influx of new tenants. Drawing on data from Property Monitor and its own transactions, the firm highlighted significant month-on-month gains in volumes, values, and rental activity. Average price per square foot: AED1,893 ($516), up 3.3 per cent from June Total transactions: 18,816, up 20.5 per cent month-on-month Total sales value: AED51.3bn ($13.96bn), a 10.6 per cent increase Off-plan sales: 65 per cent of transactions, up from 62 per cent in June The top-performing villa communities in the month were The Wilds, Grand Polo Club & Resort and The Oasis. Meanwhile, the top-performing apartment communities were Jumeirah Village Circle, Business Bay and Damac Riverside. Average Dubai Land Department sale prices July 2025 Apartments: AED1.99m ($541,500) Townhouses: AED3.25m ($884,200) Villas: AED9.7m ($2.64m) Betterhomes' own portfolio showed higher average apartment prices at AED2.33m ($633,800) but lower villa prices at AED6.1m ($1.66m). Christopher Cina, Director of Sales at Betterhomes, said: 'The continued strength of Dubai's off-plan sector shows enduring confidence in the city's long-term growth. We're seeing demand from both seasoned investors and first-time buyers eager to secure properties before completion'. Top 5 off-plan developers by sales value Sobha Realty: AED2.7bn ($735.6m) Emaar: AED2.6bn ($708.4m) Binghatti: AED1.7bn ($463.1m) Damac: AED1.6bn ($435.6m) H&H: AED1.5bn ($408.8m) Top 5 title deed developers by sales value Emaar: AED5.9bn ($1.61bn) Aldar: AED4.6bn ($1.25bn) Damac: AED2.5bn ($680.6m) Nakheel: AED1.7bn ($463.1m) Sobha Realty: AED1.5bn ($408.8m) Renting in Dubai Leasing activity also strengthened in July, with Dubai residential market recording 39,251 rental transactions, a 3.4per cent month-on-month rise. New contracts made up 40 per cent of these deals, up from 37 per cent in June, indicating an influx of fresh tenants into the market Al Khail Heights registered the highest apartment rental growth at 1.5 per cent month-on-month, reaching an average of AED67,500 ($18,400) annually, while Jumeirah led villa rental growth with a 4.2 percent increase to AED498,000 ($135,600) per year. Across Dubai, average rents by property type were: Apartments: AED72,000 ($19,600) Townhouses: AED172,000 ($46,800) Villas: AED255,000 ($69,500) Betterhomes recorded a 10 per cent month-on-month increase in tenant leads in July, reflecting continued demand across its rental portfolio. Average leasing prices within the company's transactions stood at AED141,000 ($38,300) for apartments, AED190,000 ($51,700) for townhouses, and AED368,000 ($100,200) for villas. Dubai real estate outlook 2025 Betterhomes says the combination of rising sales volumes, strong off-plan absorption, and robust rental demand reaffirms Dubai's standing as a leading global property hub. With investor confidence high and fresh tenant inflows accelerating, the company expects momentum to carry through the remainder of 2025.
