{"id":39123,"date":"2016-12-28T06:01:00","date_gmt":"2016-12-27T23:01:00","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/meydan-raises-dh1-billion-to-get-projects-moving-ahead-of-expo-2020\/"},"modified":"2016-12-28T13:37:57","modified_gmt":"2016-12-28T06:37:57","slug":"meydan-raises-dh1-billion-to-get-projects-moving-ahead-of-expo-2020","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/meydan-raises-dh1-billion-to-get-projects-moving-ahead-of-expo-2020\/","title":{"rendered":"Meydan raises Dh1 billion to get projects moving ahead of Expo 2020"},"content":{"rendered":"


\nThe 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 Dhabi Islamic Bank (Adib), with support from Dubai Islamic Bank and Al Hilal Bank. It matures in 2018. It follows an earlier Dh1bn funding deal announced in June, also through Adib via a Dh700 million Sukuk and a Dh300m term loan – both of which expire in 2024. “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,” said Saeed Al Tayer, the chairman and chief executive of the Meydan Group.Tirad Al Mahmoud, the chief executive of Adib, said the deal “evidences the results we are achieving through stepping up our corporate financing activity, with a particular focus on high-growth companies and the real estate sector”.Meydan recently issued a tender seeking bids from contractors to build the 711 metre tower at Meydan One and unveiled more detailed plans for the site’s mall, which will contain 529 shops, including an 11,200 square metre hypermarket. The mall and the tower were announced in August 2015 as part of a 5 million square foot project that is also set to contain a marina, a huge civic plaza, an arena and the world’s longest ski slope. The tower, mall, civic plaza and a 4 kilometre canal are due for completion by 2020.Alongside this, Meydan is part of a joint venture with Meraas that is responsible for the development of about 14 million sq ft of hospitality, retail, leisure and residential property along the banks of the extended Dubai Canal. The project will have an estimated value of between Dh30bn to Dh35bn.Simon Moon, the chief executive of Atkins Middle East, said given the level of investment that the Dubai Government has put into the canal and the surrounding infrastructure, “it would make absolute sense” to bring forward this development ahead of Expo 2020.”I have no insight into how they are going to unlock the land around that but I can imagine that next year is the year they unlock that and the back end of the next financial year [March 2018] is when those projects start to come through. I’d be very surprised if that wasn’t well developed for Expo,” Mr Moon said.mfahy@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Meydan raises Dh1 billion to get projects moving ahead of Expo 2020<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Dubai-based developer Meydan has raised Dh1 billion through a new Islamic financing facility and...<\/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-39123","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-ab1","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":39123,"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":16270,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/meydan-raises-funds-through-sukuk-and-term-loan\/","url_meta":{"origin":39123,"position":1},"title":"Meydan raises funds through sukuk and term loan","date":"June 12, 2016","format":false,"excerpt":"\r The 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9028,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-renews-dh1-4bn-dispute-against-meydan-three-years-after-dropping-dubai-racecourse-claim\/","url_meta":{"origin":39123,"position":2},"title":"Arabtec renews Dh1.4bn dispute against Meydan three years after dropping Dubai racecourse claim","date":"March 25, 2016","format":false,"excerpt":"\r \r Arabtec is to recommence its legal action against Meydan, reviving one of Dubai's biggest construction disputes since the financial crisis.It comes three years after the pair agreed to out-of-court talks to resolve their dispute over the redevelopment of the horse racing venue Arabtec is now recommencing its bid\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":51384,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/azizi-awards-dh1-7bn-worth-of-contracts-to-build-apartment-blocks-at-meydan-one\/","url_meta":{"origin":39123,"position":3},"title":"Azizi awards Dh1.7bn worth of contracts to build apartment blocks at Meydan One","date":"April 9, 2017","format":false,"excerpt":"\r Azizi Developments has awarded two contracts at Meydan One in Dubai to build 35 new apartment blocks worth a total of Dh1.7 billion.The company, which bought 186 plots at Meydan One in February from the master developer Meydan, said the land it has bought has been amalgamated into sites\u2026","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":39123,"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":39123,"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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