Aldar Properties PJSC Closes AED 5 Billion Sustainability-Linked Revolving Credit Facility, Boosting Liquidity to AED 38.2 Billion
Abu Dhabi-based Aldar Properties PJSC has closed a AED 5 billion (USD 1.36 billion) five-year syndicated sustainability-linked revolving credit facility (RCF), the company announced April 16, 2026. The transaction, which drew participation from 10 major financial institutions including new lenders, brings Aldar's total available liquidity to AED 38.2 billion — a figure that includes AED 13.9 billion in cash and AED 24.4 billion in undrawn committed facilities.
Financing Details
The senior unsecured committed multi-tranche facility carries a five-year term and is structured as a floating-rate revolving credit facility. It incorporates both conventional and Islamic tranches across AED and USD currencies, broadening the pool of participating lenders. The facility is also linked to sustainability key performance indicators, extending Aldar's commitment to measurable ESG targets within its financing framework.
Participating banks include Abu Dhabi Commercial Bank, Al Ahli Bank of Kuwait K.S.C.P. – Abu Dhabi Branch, Arab Bank for Investment and Foreign Trade (Al Masraf), Commercial Bank of Dubai PSC, Dubai Islamic Bank, Emirates Islamic, Emirates NBD Bank, First Abu Dhabi Bank, Industrial and Commercial Bank of China Limited, and SMBC (Sumitomo Mitsui Banking Corporation).
With the latest facility, Aldar's average senior debt maturity stands at five years, while the average maturity of undrawn committed facilities is three-and-a-half years.
Aldar Properties PJSC: Context and Capital Structure
The April 2026 RCF is Aldar's second sustainability-linked revolving credit facility, following a AED 9 billion debut transaction closed in January 2025. Earlier in 2026, the company also completed a AED 3.67 billion (USD 1 billion) public hybrid notes issuance and a AED 3.67 billion (USD 1 billion) private placement with Apollo. Together, these transactions have progressively expanded Aldar's capital base and extended its debt maturity profile.
In January 2026, Moody's reaffirmed Aldar's Baa2 credit rating with a stable outlook — a rating first assigned to Aldar in 2017. The company has maintained a stable investment-grade rating since that initial designation, which it describes as central to its capital-raising strategy across the capital structure.
Strategic Priorities
Aldar said the enhanced liquidity position will support continued execution across its development and investment platforms.
Faisal Falaknaz, Group Chief Financial and Sustainability Officer at Aldar, said: "This transaction reflects the strength and stability of Aldar's diversified business, as well as the depth of our relationships with local, regional and international financial institutions. The syndication and book building process commenced in February and progressed in line with the original plan, supported by leading banks, demonstrating strong commitment to Aldar and the UAE economy. 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."
Facility Structure
The dual-currency, dual-format structure of the facility — offering both conventional and Sharia-compliant options across AED and USD — was designed to maximize lender participation. The inclusion of international institutions such as the Industrial and Commercial Bank of China and SMBC alongside regional and local banks reflects the cross-border composition of the syndicate for this investment-grade UAE real estate credit.