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Thu 31 Jan 2019 12:42 PM

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Dubai Investments Park operator inks $300m loan deal

Dubai Investments Park Development Company announces agreement with Emirates NBD to repay sukuk

Dubai Investments Park operator inks $300m loan deal
Dubai Investments Park is a self-contained mixed-use industrial, commercial and residential development operated by DIPDC.

Dubai Investments Park Development Company (DIPDC), the operator of Dubai Investments Park and wholly owned subsidiary of Dubai Investments, has signed a $300 million bilateral term loan facility with Emirates NBD.

The financing extends for a tenor of 5.5 years and will be utilized to repay the existing sukuk of $300 million maturing in February.

Al Mal Capital acted as the financial advisor on the transaction.

Omar Al Mesmar, general manager of Dubai Investments Park, said: “Given our robust business model and strong relationship with local financial institutions, we have assessed that it is currently competitive to refinance the existing sukuk through a bilateral facility provided by ENBD.”

Dubai Investments Park is a self-contained mixed-use industrial, commercial and residential development operated by DIPDC.

Spread across an area of 2,300 hectares, it offers industrial facilities for small, medium, and large-sized enterprises, a wide array of warehousing, a large space for staff accommodation, plus over 20 million sq ft of office space and showrooms.

It also has over 12,000 residential units and 120,000 residents as well as a university, six schools, five operational hotels, two hospitals and various retail options.

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