Aldar Properties has raised Dh5 billion ($1.36 billion) in sustainability-linked credit as it seeks to expand operations.
The revolving credit facility – which allows borrowers to withdraw, repay and redraw funds several times – comes from a syndicate of 10 UAE, regional and international financial institutions.
The five-year agreement boosts the liquidity of Abu Dhabi’s biggest listed developer to nearly Dh38.2 billion, including Dh13.9 billion in cash and Dh24.4 billion in undrawn committed facilities, Aldar said on Thursday. That includes both conventional and Islamic tranches in dirhams and dollars.
It is Aldar’s second such transaction, after it raised Dh9 billion from another sustainability-linked revolving credit facility in January 2025.
“With an exceptionally strong liquidity position, we will continue to advance our strategic priorities across Aldar’s development and investment platforms, delivering for our communities and creating long-term economic value for all stakeholders,” said group chief financial and sustainability officer Faisal Falaknaz.
Aldar has been boosting growth amid a continuing property boom in the UAE and despite the Middle East conflict.
The developer said last month that its 2026 handover schedule remains unaffected by the Iran war as it awarded $1.28 billion in contracts for this year. A further 172 tenders worth more than Dh30 billion are set to be awarded, Aldar said at the time, without giving a timeline.
In January, Aldar finalised the pricing for its $1 billion hybrid notes as it intensifies efforts to boost its growth strategy, and last month raised the same amount through the issuance of subordinated hybrid notes to Apollo Global Management.
Participating banks in Aldar’s latest revolving credit facility include Abu Dhabi Commercial Bank, Al Ahli Bank of Kuwait–Abu Dhabi Branch, Arab Bank for Investment and Foreign Trade (Al Masraf), Commercial Bank of Dubai, Dubai Islamic Bank, Emirates Islamic, Emirates NBD, First Abu Dhabi Bank, Industrial and Commercial Bank of China, and SMBC (Sumitomo Mitsui Banking Corporation).
In January, Moody’s reaffirmed Aldar’s Baa2 credit rating with a stable outlook.
