The Private Department of Sheikh Mohamed Bin Khalid Al Nahyan (PD) has successfully closed its landmark syndicated AED 3bn real estate financing, marking a significant milestone in PD’s financial strategy and capital markets journey.
The ten-year facility will be used to refinance its bank debt on enhanced terms, settle sukuk obligations, and support PD’s general corporate purpose.
The facility is secured by a high-quality portfolio of real estate assets across Abu Dhabi and Dubai. The structure provides PD with long-term flexibility and reinforces its balance sheet position.
The landmark transaction was arranged by a consortium of local lenders reflecting PD’s commitment to broadening its banking relationships. Abu Dhabi Commercial Bank (ADCB) and Mashreqbank (Mashreq) acted as Joint Coordinators and Account Banks.
ADCB, Commercial Bank of Dubai (CBD) and Mashreq acted as Joint Mandated Lead Arrangers and Bookrunners, as well as Hedging Banks. Additional roles include ADCB as Facility Agent and Security Agent, and CBD as Market Hedge Coordinator.
This syndicated loan reflects strong institutional confidence in PD’s financial strength and long-term vision.
“This is a milestone achievement. The Private Department has just managed to deliver one of its biggest goals in its financing strategy by closing this syndicate as well as updating its Debt Capital Market Programme.
“This marks one of the largest loan syndicated loans in the UAE Real Estate market, which represents a very important step that supports the Private Department funding strategy and shaping its new Capital structure in the future. By this achievement, The Private Department has secured greater confidence from the local banks besides its successful DCM Programme update which will be used for the upcoming issuances, to always maintain the diversification on its funding sources as declared.
“This loan syndicate with the attached terms, besides the updated Capital Market Programme, will significantly support the liquidity position that will be used to support any future investments, which is supposed to be positively reflected in the Private Department’s future Credit Rating and future Capital Market Issuances.”
Dr. Ahmed Mansour, CEO, PD
PD, established in 1964, is 100% owned by members of the Abu Dhabi ruling family and is the owner of one of the largest diversified recurring income real estate portfolios located primarily in the Emirate of Abu Dhabi.
PD’s portfolio has over 2,500 recurring income-generating residential units, 60,009 sqm of commercial spaces, with two five-star operational hotels in Abu Dhabi and Dubai.
