Brics’ bank lists USD 1.75 bn on Nasdaq Dubai, Dubai Healthcare City gets an AED 3 bn residential wager, flydubai launches its dedicated cargo operations

Brics’ bank lists USD 1.75 bn on Nasdaq Dubai

Brics is doubling down on finance as a key focus, with the bloc’s New Development Bank (NBD) listing a USD 1.75 bn, three-year benchmark bond on Nasdaq Dubai, state news agency Wam reports. The listing came under NBD’s USD 50 bn Medium-Term Note (EMTN) program and carried a 4.375% coupon.

IN CONTEXT- The listing is part of the lender’s mandate to back international development projects in emerging markets. It also comes hot on the heels of the recent Brics summit in New Delhi, where financial links between member states took center stage. India has been pushing Brics central banks to link up their digital currencies, while Brazil has historically called for a unified currency to challenge USD dominance.

The demand breakdown: The order book closed out with over USD 3.2 bn worth of demand. 65% of orders came from Asia-Pacific-based investors, 32% hailed from EMEA, and 3% from the Americas.

ICYMI- NBD holds significant capital, having deployed USD 42.9 bn in financing for projects as of May. The EMTN program initially went live at the end of last year.

Dubai Healthcare City gets an AED 3 bn residential wager

Dubai Healthcare City (DHCC) is set to add more than 1.4k homes to Phase 2 by 2030 through the AED 3 bn Dubai Creek Gardens development, where construction has now begun, according to a Dubai Media Office statement. The 127k sqm project by Global Partners will devote 70% of its area to green and wellness space and include the UAE’s first Westin- and Renaissance-branded residences, adding to Dubai’s broader branded-residence push.

DHCC is putting skin in the game: Dubai Healthcare City Authority has become a founding shareholder in Global Partners Property Fund II, the investment vehicle backing the project.

REMEMBER- Phase 2 is also adding healthcare capacity, with a specialist gastroenterology hospital being developed with South Korea’s Asan Medical Center.

Flydubai launches its dedicated cargo operations

Flydubai is moving into dedicated cargo: UAE’s budget carrier Flydubai is set to launch dedicated freighter operations on 1 October with three Boeing 737-800 freighters wet-leased from SolitAir, according to a press release. The carrier plans to use its dedicated freighters to grow volumes across pharma, perishables, aerospace components, express shipments, live animals, and dangerous goods, complementing the cargo capacity already carried across its passenger network.

Why this matters: The move marks Flydubai’s first dedicated freighter fleet, with cargo previously carried exclusively in the belly holds of its 98 passenger aircraft. Each freighter can carry up to 23k kg per flight and will be based at Al Maktoum International Airport.