Emirates NBD concludes syndicated bonding facilities for Dubai Metro ‘Blue Line' project
Dubai Road and Transport Authority (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 honoured 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.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Etihad
a minute ago
- Al Etihad
FANR's Board of Management Meeting spotlights Barakah operations, strengthens global ties
7 Aug 2025 15:43 ABU DHABI (WAM) The Board of Management of the Federal Authority for Nuclear Regulation (FANR) convened its fourth meeting of the meeting, the Board was briefed by the Chair of the Audit and Risk Committee on the status of FANR's Audit Plan, and by the Chair of the Development and Improvement Committee on the authority preparations for its 2027–2029 strategy cycle, which aligns with the national 'We the UAE 2031' Board was also updated on FANR's ongoing Zero Bureaucracy initiatives aimed at streamlining processes and enhancing operational FANR's Director-General provided an update on the regulator recent progress in terms of national and international cooperation as well as its regulatory oversight the meeting, the Board reviewed FANR's ongoing regulatory oversight of all four units at the Barakah Nuclear Power Plant. This includes current refueling activities for Unit 4 and scheduled maintenance across other units in 2025. FANR continues to carry out rigorous inspections and monitoring to ensure the plant's operations remain safe, secure, and fully compliant with national regulatory Board discussed the National Gamma Monitoring Expansion, designed to enhance FANR's capacity to monitor radiation levels across a broader geographic project also aims to enhance FANR's data sharing by integrating the regulator's monitoring systems with regional and international the Board discussed the establishment of National Laboratories for Cytogenetic and Internal laboratories will provide advanced capabilities to assess radiation exposure among workers and enhance the UAE's response capacity during radiological emergencies, in line with international safety the Board approved several international agreements and Memoranda of Understanding to further strengthen cooperation in the fields of nuclear and radiation safety, safeguards, and research and development. These agreements include partnerships with key regulatory bodies in France, the United States, and other countries.
Arabian Business
a minute ago
- Arabian Business
Qatar Airways announces massive expansion with extra flights to global destinations, including record 10 daily London services
Qatar Airways has ramped up its global network for the Winter 2025 season, increasing frequencies to more than 15 key destinations worldwide, including a record-breaking 10 daily flights to London Heathrow—its highest-ever frequency on the route. The award-winning carrier is responding to surging demand by offering greater connectivity through its Doha hub, Hamad International Airport. Qatar Airways will increase frequencies to major cities across Europe, Africa, Asia, and the Americas. Qatar Airways flights Key highlights include: Abu Dhabi: From five daily flights to up to six Berlin: From 18 weekly flights to up to 21 Canberra: Services to restart this winter Cape Town: 10 to 12 weekly flights Casablanca: From four weekly flights to five Dublin: 14 to 17 weekly flights Frankfurt: From 18 weekly flights to up to 21 Johannesburg: 14 to 18 weekly flights London Heathrow: Up to 10 daily flights (complemented by British Airways' 2x daily) Madrid: From 14 weekly flights to 17 Maldives: From three daily flights to up to four Mancheste r: From 21 weekly flights to up to 24 Melbourne–Doha: Capacity boosted to three daily flights, thanks to Virgin Australia partnership São Paulo: 14 to 18 weekly flights Sharjah: Three to seven daily flights Tokyo Narita: From 11 weekly flights to up to 14 Toronto: From five weekly flights to seven In total, the airline is increasing flights on more than 15 routes, offering travellers enhanced flexibility and convenience for both business and leisure travel. Qatar Airways also continues to lead in in-flight innovation, with more than 50 of its Boeing 777s now offering free, Starlink Wi-Fi, with speeds of up to 500 Mbps, available to all passengers in both Economy and Premium cabins — from gate to gate. Qatar Airways Chief Commercial Officer, Mr. Thierry Antinori, said: 'Qatar Airways is consistently witnessing a steady rise in demand for our 5-star services to some of the most prominent destinations in the world, most notably for London, Dublin, Cape Town, and São Paulo. 'This winter, in partnership with Qatar Airways, Virgin Australia will launch flights from Melbourne to Doha, increasing capacity to three daily flights between the two cities. Qatar Airways will also restart services to Canberra, reinforcing its commitment to enhance connectivity between Australia and the world'.
Gulf Business
a minute ago
- Gulf Business
Space42 reports resilient H1, boosted by optimised ops, strategic execution
Image courtesy: Space42/ For illustrative purposes UAE-based AI-powered Spacetech company The company, listed on the Abu Dhabi Securities Exchange under the symbol SPACE42, posted a normalised net profit of $53m, flat compared to the same period last year, but with a higher margin. Cash and short-term deposits stood at $816m as of June 30, alongside a newly secured $0.7bn ECA-backed funding facility. Space42 also reported contracted future revenues of $6.8bn. 'H1 2025 demonstrates our commitment to operational excellence and capability building. The momentum across our platform shows that our dual-use capabilities deliver both commercial success and strategic value. With Thuraya-4 entering commercial operation and our programmatic approach taking hold, combined with sustained optimization, we're positioned for growth aligned with market demand,' said MD Karim Sabbagh. Space Services recorded 2 per cent year-on-year revenue growth in Q2 2025, reaching $100m, led by double-digit growth in the oil and gas sector. Growth was attributed to demand for secure communications and mobile satellite services in the UAE, with this trend expected to continue. The recent launch of the Thuraya-4 satellite, set to enter commercial service in H2 2025, is expected to accelerate growth with new offerings in defense, security, and commercial applications. The company also reported progress in its direct-to-device (D2D) system, with further developments anticipated later this year. Despite underperformance linked to multi-year programme timing, Smart Solutions continued capability development and began seeding key programs set to scale in H2 2025. It is focused on deploying the Foresight system, featuring seven Earth observation satellites, and advancing the GIQ geospatial analytics platform, now available on Microsoft Azure Marketplace. These efforts were recognised with the Future Fit seal by the UAE government under the UAE Space Agency, underscoring the strategic value of Space42's dual-use technologies. Strategic pillars show broad progress Space42 reported progress in these areas: Launched the Middle East's first SAR satellite manufacturing facility in partnership with ADIO. Completed construction of a High-Altitude Platform Systems (HAPS) manufacturing and R&D site, targeting full commercial rollout by 2026. Signed MoU with Microsoft and Esri for the Map Africa Initiative, a five-year AI-powered mapping program across all 54 African countries. Scaled the GIQ platform ahead of full commercialisation in Q4 2025. Received the UAE Government's Future Fit Seal for innovation. Advanced joint venture with FADA and EDGE to develop a national geospatial ecosystem. Continued development of AI-integrated command and control systems and sensing technologies. Near completion of Thuraya-4 in-orbit testing, with 16 new products rolling out including IP Neo Broadband and Thuraya Broadband Hotspot. Ongoing development of D2D space systems with Viasat, establishing a 5G NTN multi-orbit platform. Continued progress on the Al Yah 4 and Al Yah 5 satellite programme, with design reviews underway. These assets support a $5.1bn, 17-year government contract generating $300m annual revenues from Q4 2026. Read: Financial highlights: At a glance Metric Result Revenue $226m (-17 per cent YoY) Normalised EBITDA $112m (-14 per cent YoY); margin up 2pp to 49 per cent Normalised Net Profit $53m (flat YoY); margin up 4pp to 23 per cent Cash CapEx $109m Cash / Short-Term Deposits $816m Negative Net Debt $478m Net Leverage Ratio -1.8x Contracted Future Revenues $6.8bn
