9 hours ago
Galadari Sports, Emirates NBD ink new green term loan facility for community sports complex in Dubai
Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (Menat) region, has announced the successful completion of a new Green Term Loan Facility with Galadari Sports, part of Galadari Brothers, a leading Dubai-based conglomerate, to fund the construction of a new sports complex in the emirate.
The state-of-the-art facility will be built to the strict rules and parameters of Dubai Municipality's Sa'fat Gold certification for green buildings, while funding for the project aligns with Emirates NBD's Sustainable Finance Framework.
Located in Al Quoz neighborhood, the complex is among only a few privately funded developments that are targeting Sa'fat Gold certification. A flagship project for Galadari Sports, once completed it will help to set new standards in sustainability for recreational buildings and associated infrastructure.
As a key part of securing funding through Emirates NBD's Sustainable Finance Framework and official Loan Market Association (LMA) Green Loan Principles, construction of the new complex will adhere to stringent protocols governing building processes and materials, while regular environmental monitoring and annual impact reports will assess its ongoing compliance.
Once completed, the new green-certified community facility will feature swimming pools, gyms, squash and padel courts, with power and utilities provided by innovative and sustainable systems including solar panels and water recycling.
Emirates NBD is committed to enabling the UAE's transformation into a green, low-carbon economy through initiatives such as its Sustainable Finance Framework. Part of a wide-ranging economic empowerment strategy, Emirates NBD's Sustainable Finance Framework is aligned with the aims of the United Nations Sustainable Development Goals (SDGs) and the UAE's Vision 2030 and Net Zero 2050 plans.
Mohammed Galadari, Co-Chairman and Group CEO of Galadari Brothers, said: 'This state-of-the-art project reflects our continued commitment to advancing sustainable development in the UAE. By investing in energy-efficient infrastructure and embracing green finance, we are proud to support the nation's Net Zero 2050 agenda while delivering long-term value to our communities. Our partnership with Emirates NBD marks a significant milestone for Galadari Brothers and reinforces our belief in the power of responsible, future-focused development. As we expand our presence in the wellness and recreation sector, sustainability will remain a core pillar of our long-term vision and growth strategy.'
Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, said: 'This transaction between Emirates NBD and Galadari Sports is a clear and inspiring example of how sustainability-linked funding options continue to be a driving force in helping the UAE reach its Net Zero 2050 ambitions. The availability of new financing tools across sectors enables important collaborations between banking institutions and private companies, allowing for the creation of increased value through responsible, economically-empowering and environmentally-friendly developments. Projects such as the Galadari Sports complex are at the forefront of a new wave of sustainable urban growth, with innovative green buildings – constructed according to the guiding principles of Dubai Municipality's Sa'fat Gold certification and aligned with Emirates NBD's Sustainable Finance Framework – providing essential services to communities.'
