Abu Dhabi Islamic Bank (ADIB) has successfully arranged a sustainable bilateral facility of AED 1 billion for Aldar Properties PJSC, contributing to Aldar’s ESG financing facilities totalling AED 4.8 billion. This move aligns with both entities’ commitment to environmentally beneficial projects in line with the UAE Net Zero by 2050 initiative.
As the sole facility provider, ADIB’s financing supports Aldar in its transition towards sustainable practices, funding projects such as green buildings, energy-efficient property upgrades, sustainable water management, pollution control measures, and renewable energy sources.
Mohammed Al Fahim, Acting Global Head of Wholesale Banking at ADIB, expressed excitement about supporting Aldar’s efforts to decarbonize the real estate industry. The AED 1 billion Sustainable Finance Facility underscores ADIB’s dedication to sustainability and the financial sector’s role in advancing the nation’s green transition.
Faisal Falaknaz, Group Chief Financial and Sustainability Officer at Aldar, emphasized the importance of sustainable financing in achieving net-zero goals. Aldar looks forward to further progress on sustainability, building on its strong relationship with ADIB.
ADIB’s commitment to sustainable finance extends beyond this arrangement, with the bank actively participating in various sustainable financing solutions across different sectors and sizes.