Emirates NBD signs Daman deal

Emirates NBD, the largest banking group in the Middle East in terms of assets, has signed a Dh500 million bi-lateral structured debt pact with Daman Real Estate Capital Partners.

 

The agreement will provide part financing for Daman’s first project “The Buildings by Daman” which will be located in DIFC, Dubai.

Abdul Wahed Al Fahim General Manager, Wholesale Banking, Emirates NBD said: “We are proud to be associated with the project at the DIFC, which is one of the most prestigious landmarks in Dubai.

“This debt structure reinforces Emirates NBD’s position at the top end of the corporate credit market in terms of transaction structure and quality.”

Daman CEO Shehab Gargash said: “Our financial model has always been structured to conform to international investment standards but it is no surprise that a big bank such as ENBD has joined a long list of partners as the provider of the debt financing.”