{"id":16270,"date":"2016-06-12T18:31:33","date_gmt":"2016-06-12T11:31:33","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=16270"},"modified":"2016-06-12T16:49:50","modified_gmt":"2016-06-12T09:49:50","slug":"meydan-raises-funds-through-sukuk-and-term-loan","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/meydan-raises-funds-through-sukuk-and-term-loan\/","title":{"rendered":"Meydan raises funds through sukuk and term loan"},"content":{"rendered":"


\nThe Meydan Group has raised Dh1 billion in debt funding, which the company has said will help to improve its capital structure and provide cash for new projects.The company, which owns and operates Dubai’s main racecourse and an adjoining hotel, raised the money through a Dh700 million sukuk and a Dh300m term loan, both of which will mature in 2024.The funding was structured and coordinated by the Abu Dhabi Investment Bank (ADIB), but a number of other local banks took part in the sukuk, including Al Hilal Bank, Sharjah Islamic Bank and Ajman Bank.In a statement, Meydan said the funds had been raised “at a pivotal time” in its commercial development, as it plans a series of new residential, logistics and facilities projects.Saeed Humaid Al Tayer, the chairman and chief executive of Meydan Group, said: “This facility assists in realising our funding objectives to build strategic partnerships with local and regional financial institutions to continue our growth and enable us to fulfil our business strategy of linking the world with the emirate of Dubai.”Tirad Al Mahmoud, the chief executive of ADIB, said the deal “evidences the results we are achieving by stepping up our corporate financing activity, with a particular focus on growing companies and real estate”. “We expect the structure of this deal will serve as a model for future mandates,” he said.In August 2015, Meydan unveiled proposals for Meydan One, a new masterplanned community spread over five million square metres featuring a 711 metre-high residential tower, a major civic plaza, a 100-berth marina, a new mall and the world’s longest indoor ski slope. At the time of the announcement, the company said the first phase of development, including the tower, mall, civic plaza and the world’s longest dancing fountains, would be completed by 2020.mfahy@thenational.ae
\n
\nSource : thenational.ae
\nRead more…Meydan raises funds through sukuk and term loan<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Meydan Group has raised Dh1 billion in debt funding, which the company has said...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-16270","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-4eq","jetpack-related-posts":[{"id":39103,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/meydan-raises-dh1-billionn-to-get-projects-moving-ahead-of-expo-2020\/","url_meta":{"origin":16270,"position":0},"title":"Meydan raises Dh1 billionn to get projects moving ahead of Expo 2020","date":"December 28, 2016","format":false,"excerpt":"\r The Dubai-based developer Meydan has raised Dh1 billion through a new Islamic financing facility and plans to use it to develop current and future projects, including Meydan One at Mohammed Bin Rashid City and its project on the banks of the extended Dubai Canal.The funding was arranged by Abu\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":39123,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/meydan-raises-dh1-billion-to-get-projects-moving-ahead-of-expo-2020\/","url_meta":{"origin":16270,"position":1},"title":"Meydan raises Dh1 billion to get projects moving ahead of Expo 2020","date":"December 28, 2016","format":false,"excerpt":"\r The Dubai-based developer Meydan has raised Dh1 billion through a new Islamic financing facility and plans to use it to develop current and future projects, including Meydan One at Mohammed Bin Rashid City and its project on the banks of the extended Dubai Canal.The funding was arranged by Abu\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16306,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/meydan-group-inks-aed1bn-islamic-fundraising-deal\/","url_meta":{"origin":16270,"position":2},"title":"Meydan Group inks AED1bn Islamic fundraising deal","date":"June 12, 2016","format":false,"excerpt":"\r Financing includes $190m sukuk and $81.6m facility \u2018to enhance developer\u2019s capital structure\u2019\r \r Source : arabianbusiness.com\r Read more...Meydan Group inks AED1bn Islamic fundraising deal","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8010,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubais-meydan-gets-476m-in-bank-financing-for-new-projects\/","url_meta":{"origin":16270,"position":3},"title":"Dubai's Meydan gets $476m in bank financing for new projects","date":"March 15, 2016","format":false,"excerpt":"\r Funding viewed a fresh sign that the emirate is pushing ahead with big infrastructure plans despite a regional economic slowdown due to low oil prices\r \r Source : arabianbusiness.com\r Read more...Dubai's Meydan gets 6m in bank financing for new projects","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":158840,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-real-estate-jvc-meydan-dubai-marina-among-top-property-choices-for-first-time-buyers-experts-say\/","url_meta":{"origin":16270,"position":4},"title":"Dubai real estate: JVC, Meydan, Dubai Marina among top property choices for first-time buyers, experts say","date":"August 7, 2025","format":false,"excerpt":"\r First-time buyers are benefiting from reduced down payment requirements and developer-bank mortgage tie-ups\r \r Source : arabianbusiness.com\r Read more...Dubai real estate: JVC, Meydan, Dubai Marina among top property choices for first-time buyers, experts say","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/08\/Jumeirah-Village-Circle-2-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":3328,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/meydan-sobha-launches-third-phase-of-mbr-city-district-one-in-dubai\/","url_meta":{"origin":16270,"position":5},"title":"Meydan Sobha launches third phase of MBR City District One in Dubai","date":"February 2, 2016","format":false,"excerpt":"\r \r Meydan Sobha, the joint venture behind the Mohammed bin Rashid City District One development, has launched the third phase of works at the Dh25 billion project.Meydan Sobha said that phase three will contain 217 four, five and six-bedroom villas and will be delivered by the end of 2018.\u2026","rel":"","context":"In "Property 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