Emirates NBD Finalizes AED 3.9 Billion Syndicated Bonding Facilities for Dubai Metro ‘Blue Line’ Project in Partnership with MAPA, LIMAK, and CRRC
Emirates NBD, one of the leading banking groups in the Middle East, North Africa, and Türkiye (MENAT) region, has successfully concluded AED 3.9 billion in fully underwritten syndicated bonding facilities for the consortium comprising MAPA İnşaat ve Ticaret A.Ş. (MAPA), Limak İnşaat Sanayi ve Ticaret A.Ş. (LIMAK), and CRRC (Hong Kong) Co. Limited (CRRC). The financing supports the development of the ambitious Dubai Metro Blue Line Project, awarded by the Roads and Transport Authority (RTA).
The Blue Line is part of Dubai’s AED 20.5 billion infrastructure expansion under the Dubai 2040 Urban Master Plan, aimed at enhancing connectivity, easing traffic congestion, and delivering world-class public transport solutions across the emirate. Scheduled for completion in September 2029, the metro line will seamlessly link with existing Red and Green Lines, as well as integrate with bus and taxi networks. It is expected to serve approximately 350,000 daily passengers by 2040.
This project aligns with Emirates NBD’s Sustainable Finance Framework, qualifying as a Green Financing initiative under the “Clean Transportation” category, supporting the bank’s commitment to advancing environmentally responsible development.
Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, stated:
“The Dubai Metro Blue Line is a landmark project that reflects the emirate’s long-term urban vision. This transaction reinforces our role as the go-to banking partner for transformative projects shaping Dubai’s future and enhancing its global appeal.”
Murathan Doruk Günal, Vice President & CEO at MAPA, commented:
“We’re proud to contribute to such a pivotal project under Dubai’s 2040 Urban Master Plan. The successful financing deal with Emirates NBD underscores the trust in our consortium’s capability to deliver complex, high-impact infrastructure.”
Serdar Bacaksız, Board Member at Limak Group of Companies, added:
“This project reflects Dubai’s forward-thinking urban development. Our partnership with Emirates NBD empowers us to deliver innovative, sustainable mobility solutions that align with the emirate’s vision for a connected and resilient city.”
