Latest news with #Limak
Arabian Post
an hour ago
- Business
- Arabian Post
Emirates NBD Backs AED 3.9 Bn Funding for Dubai's Blue Metro
Emirates NBD has arranged AED 3.9 billion in fully underwritten syndicated bonding facilities to support the MAPA‑LIMAK‑CRRC consortium building Dubai's Metro Blue Line Project, advancing the emirate's 2040 Urban Master Plan goals for a world‑class public transport network. The bond will cover part of the AED 20.5 billion contract awarded by the Roads and Transport Authority to the three‑way consortium for design and construction of the new metro line. Set to span 30 km with 14 stations, the Blue Line extends across strategic locations including Dubai Creek Harbour, Dubai Silicon Oasis, and Academic City. Scheduled for operational launch in September 2029, the electrified line will link with the existing Red and Green metro lines, alongside bus and taxi services, anticipating service for around 350,000 daily passengers by 2040. Strategic planners expect the new route to relieve congestion and connect residential, industrial and academic zones more efficiently. ADVERTISEMENT The green finance classification reflects the project's alignment with Emirates NBD's Sustainable Finance Framework, categorising it under 'Clean Transportation'. Bank executives described the deal as a key milestone reinforcing its role as a partner in green, strategic infrastructure projects shaping the emirate's future. Bank spokesperson Ahmed Al Qassim, Group Head of Wholesale Banking, emphasised the initiative's importance: 'This metro line is a landmark undertaking … providing a rising population with new, efficient, accessible, and reliable public transportation'. From the consortium, MAPA's Murathan Doruk Günal praised the bank's trust and commitment to Dubai's sustainable urban vision, while Limak board member Serdar Bacaksız highlighted the transformative potential of the infrastructure move. As a smart, automated system, the Metro Blue Line aims to cut travel times significantly—passengers can expect a 25‑minute ride between Creek and Academic City, and 17 minutes to Centrepoint—boosting integration with future transport, including Etihad Rail. Its construction includes 14.5 km elevated track and 15.5 km underground, with platform enhancements to support growing ridership. This latest phase follows RTA's December 2024 contract award for the consortium—comprising Turkish entities MAPA and Limak, alongside China's CRRC—marking a significant milestone in Dubai's push for an expanded rail network. The broader roster of contractors included international firms, but this consortium triumphed in the bid judged on technical capacity and delivery potential. As part of the 2040 Urban Master Plan, the Blue Line is designed not only to strengthen mobility but also to advance sustainable urban growth. Emirates NBD's bond facility demonstrates private‑sector alignment with government transport ambitions and the emirate's environmental commitments.
TECHx
19 hours ago
- Business
- TECHx
Emirates NBD Concludes AED 3.9B Blue Line Financing
Home » Smart Sectors » Mobility » 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.
New York Times
25-06-2025
- Business
- New York Times
Barcelona to make Camp Nou return in partial reopening for pre-season match
Barcelona will return to the Camp Nou for a pre-season match on August 10, marking the stadium's partial reopening as it undergoes extensive renovation. The stadium will host Barca's annual Joan Gamper trophy with a reduced capacity due to the unfinished works, which the club say still impacts the third tier of stands, the VIP section, the roof installation and other facilities. Advertisement Club sources, speaking on the basis of anonymity to protect relationships, expect the capacity for the pre-season match to be limited to 25,000, with the stadium to hold 105,000 upon completion — which would be the biggest capacity in Spain. Barcelona have made a request to La Liga to play their opening league games of 2025-26 away from home in order to give them more time for the Camp Nou to be ready to host matches. Barca had hoped to be back in their revamped home for their 125th anniversary in November 2024 Barcelona and the construction company Limak have agreed a date of June 2026 for the ground to be completed — current costs for the project stand at €900million ($1billion). Barca played at the city's Estadi Lluis Companys (also referred to as Montjuic) for two full seasons, but their lease to use the facility has not been carried over into 2025-26. In 2024-25, Barcelona were granted permission to play more home league games in the second half of the season because they were expecting to be back at the Camp Nou by then. In 2022, Real Madrid were allowed to play their first three La Liga games away from home because the club were finalising the rebuilding works of the Santiago Bernabeu, which were also delayed. This will be a hugely important date in Barcelona's project as a football institution. The return to the Camp Nou was always going to be one of the club's stories of the summer, given the need to finalise the process and start capitalising the new source of income the stadium will generate. Having a set date to return, even with it being an initial test and with a highly reduced capacity, is a ray of hope for every Barca fan. Yes, there is a caveat that this is not their definitive return date. As much as Barca expect to play the whole new season at the Camp Nou, the stadium won't be fully finished until summer 2026 at the earliest. Advertisement But this is definitely a sign of progress after the club postponed their return to the stadium multiple times last season. When rebuilding works started, back in 2023, Barcelona hoped to be back at the Camp Nou in a reduced capacity by the end of 2024. Despite this, don't expect Barca to start the 2025-26 La Liga campaign at their iconic home ground. As the club confirmed in their latest statement, works will continue as they conduct their first test with the Joan Gamper game on August 10. Club sources, speaking anonymously in order to protect their jobs, admit a more realistic date to be finally back is September this year. There is also an unofficial deadline in the mind of those inside the club, which is the start of the Champions League group stage. Last season, Barca initially extended their stay at the Montjuic stadium until January 2025 (it would be further extended) arguing UEFA do not allow clubs to play in two different venues in games of the Champions League league phase. The first European fixture Barcelona will play next season will be between September 16-18. If they did not start playing at home, it could drag on to the second game week of the group stage, which is set for between September 30-October 1. (JOSEP LAGO/AFP via Getty Images)
BBC News
30-04-2025
- Business
- BBC News
FC Barcelona stadium team joins Luton Town's Power Court build
The company that redeveloped FC Barcelona's stadium will work on Luton Town's new ground, the club has Town's development arm, 2020 Developments, has agreed a pre-construction services partnership with Limak International for its new 25,000-capacity stadium at Power which is headquartered in Ankara, Turkey, worked on Spotify Camp Nou Stadium in Barcelona and a new terminal at Kuwait AirportGary Sweet, Luton Town's chief executive, said: "Partnering with a company of Limak's international standing offers us a global perspective with local delivery." Mr Sweet continued: "This is a transformative opportunity for the club, helping us realise our ambitions to be a Premier League club again one day. "We are united with the supporters on the need for a new stadium to move our Luton Town forward and we are delighted to be moving into this exciting construction phase."Construction is due to begin on the new stadium in the summer, said the club. Luton Town, having spent a season in the Premier League, is currently fighting to avoid relegation from the Hatters have played at their current ground, the 12,000-seater Kenilworth Road, for 119 club acquired the Power Court site in 2016 and was granted planning approval in December. Gokalp Kahraman, the regional director for the UK and Western Europe at Limak International, said the firm "will offer its technical expertise and international experience"."We're incredibly excited to work with the club and its partners to bring its ambitious and impressive vision to life," he Stephens, the chair of Luton Town Supporters' Trust, welcomed "a major step forward for our club". He said: "On behalf of our members, I welcome the club's contracting partnership with Limak International – especially one of such pedigree – and I'm sure I speak for all members when I say we can't wait to see construction work on site." Power Court is expected to hold its first competitive game at the start of the 2028/29 club said the project was a catalyst for regeneration in Luton and would generate more than 1,000 permanent jobs and hundreds more during Simmons, the leader of Luton Borough Council, said: "This development is about much more than football, it will unlock long-term regeneration, bring jobs, homes and vitality back to the centre of Luton. "We are proud to support Luton Town in making this vision a reality and are delighted Limak has been chosen to partner with the club at this time." Follow Beds, Herts and Bucks news on BBC Sounds, Facebook, Instagram and X.
Yahoo
15-04-2025
- Business
- Yahoo
Barcelona set new target for Camp Nou return as new permit is granted
Barcelona will finish this season at the Estadi Olimpic Lluis Companys this season, but the pressure is on to make their way back down Montjuic to Camp Nou as soon as possible. As the delay for their return approaches six months, there is hope that they could be back early next season. The financial impact of playing at Montjuic rather than Camp Nou runs into the tens of millions of euros, a significant blow for the club's accounts. Even more pertinent are the 475 VIP seats that Barcelona have leased out for 30 years in exchange for €100m, and Barcelona are desperate to see those built before the end of June. Image via FC Barcelona The idea is that after constructor Limak gives them a delivery receipt for those seats, auditors Crowe will include the deal in their accounts, and thus Barcelona can use that money towards their salary limit. That remains the aim, and to that end, Catalunya Radio report that Barcelona have secured a fresh permit for work to continue around the clock on the stadium until the 30th of April. In addition, the aim is now to return to Spotify Camp Nou in September. The Gamper trophy, the traditional preseason opener, will have to take place elsewhere, while Barcelona could request to play their opening games of the season away from home. Their target is to be back for the first games of the Champions League group phase next season. This news will no doubt be taken with a pinch of salt by Barcelona fans, who have been told different return dates on several occasions, with three official delays taking place. Earlier this year, it was reported that it could be as late as the end of 2025 that they return. This will in part depend on when the city can grant safety permits as well as the construction itself.
