{"id":81412,"date":"2023-12-21T00:00:00","date_gmt":"2023-12-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/12\/21\/uaes-adib-extends-aed-1-bn-green-loan-to-aldar-properties\/"},"modified":"2023-12-21T00:00:00","modified_gmt":"2023-12-21T00:00:00","slug":"uaes-adib-extends-aed-1-bn-green-loan-to-aldar-properties","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/12\/21\/uaes-adib-extends-aed-1-bn-green-loan-to-aldar-properties\/","title":{"rendered":"UAE\u2019s ADIB extends AED 1 bn green loan to Aldar Properties"},"content":{"rendered":"

<\/span><\/p>\n

UAE\u2019s ADIB and Aldar Properties close AED 1 bn green <\/strong>loan<\/strong>:<\/strong> Abu Dhabi Islamic Bank (ADIB) has extended an AED 1 bn (c. USD 272.2 mn) green bilateral loan to UAE-based real estate developer Aldar Properties to support the decarbonization of the latter\u2019s investments, according to a statement<\/a>. The credit line \u2014 on which ADIB acted as the sole facility provider \u2014 brings Aldar\u2019s cumulative ESG-aligned facilities to AED 4.8 bn. The real estate developer is aiming to reach net zero by 2050<\/a>.<\/p>\n

Where\u2019s the money going?<\/strong> Aldar will channel the financing package toward expanding green building developments, renewable energy sources, and property upgrades to increase energy efficiency. The funds will also go towards sustainable water management and pollution control across Aldar\u2019s properties. <\/p>\n

SOUND SMART-<\/strong>Bilateral loans<\/a> are forms of credit arranged between a borrower and a single lender in a bid to facilitate working capital for developers, and are usually associated with lower complexity and administration challenges for banks. <\/p>\n

Both sides have been upping their green finance game: <\/strong>Earlier this month, ADIB listed its first USD-denominated green sukuk, raising USD 500 mn<\/a> in an issuance that was 5.2x oversubscribed. The sukuk issuance was part of the lender\u2019s USD 5 bn Trust Certificate Issuance Programme<\/a>. Meanwhile, Aldar secured AED 1 bn<\/a> in ESG-linked loans from the Abu Dhabi Commercial Bank during COP28 to support its corporate sustainability targets. Aldar Investment Properties \u2014 a unit of Aldar Properties \u2014 raised USD 500 mn<\/a> through its debut 10-year inaugural green sukuk back in May.<\/p>\n","protected":false},"excerpt":{"rendered":"

Aldar will channel proceeds from the AED 1 bn facility toward financing green building and renewables integration projects, and will fund energy efficiency, sustainable water management, and pollution control property upgrades.<\/p>\n","protected":false},"author":1,"featured_media":81413,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84],"tags":[1954,943,83,11,164,52],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-81412","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-adib","tag-aldar","tag-debt-watch","tag-enterpriseclimate","tag-green-finance","tag-uae","wpautop","entry"],"acf":{"mongo_id":"3d7d2ae3-8337-4649-9b4d-237044b82418","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/2\/3994.jpeg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[81405],"teaser":"Aldar will channel proceeds from the AED 1 bn facility toward financing green building and renewables integration projects, and will fund energy efficiency, sustainable water management, and pollution control property upgrades.","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.30cefb1b-8fd2-4508-bb9a-4cf89511e009.mp3"},"yoast_head":"\nUAE\u2019s ADIB extends AED 1 bn green loan to Aldar Properties - 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