Emirates NBD is one of the leading financial services brands in the United Arab Emirates.
In June, the bank arranged an Dh750 million ($204 million) loan for the UAE-based wholly owned subsidiary of Dar Global, the London-listed international real estate business with a portfolio of luxury second homes and leisure developments in Europe and the Middle East.
It was also the sole global co-ordinator, placement and settlement agent in its third private placement for property company Damac Real Estate Development.
Damac successfully closed its latest sukuk issuance in the international market with a $200 million 2.25-year senior unsecured sukuk offering in February.
Ahmed Al Qassim, group head of wholesale banking at Emirates NBD, noted at the time that the latest placement was “a testimony to the strength of our relationships with our clients and our access to a deep network of regional investors.”
In 2022, Emirates NBD partnered with Dubai Land Department on an initiative allowing rental cheque payments to be automated and digitised via the central bank of UAE’s direct debit system.
The move is designed to support the rental system and is aligned with the Dubai government’s vision for a paperless payment ecosystem, as well as the Dubai 10X initiative.
This collaboration is expected to benefit both landlords and property management companies. It also offers a digital alternative to tenants making rental payments.
“Emirates NBD remains committed to supporting initiatives that will support the UAE’s long-term and strategic goals, and in further strengthening Dubai’s standing as the investment destination of choice for international property investors,” says Hesham Abdulla Al Qassim, vice-chairman and managing director of Emirates NBD.
