A major real estate player tied to Abu Dhabi’s ruling family has pulled off a hefty new financing deal worth 3 billion dirhams (\$817 million), shoring up its position in the UAE’s property market.
The Private Department of Sheikh Mohamed Bin Khalid Al Nahyan, a company with roots stretching back to 1964, secured the 10-year facility against a portfolio of properties across Abu Dhabi and Dubai. The funds will be directed toward refinancing existing bank debt, meeting sukuk commitments, and fueling broader corporate needs.
The deal drew in some of the region’s banking heavyweights. Abu Dhabi Commercial Bank and Mashreqbank took center stage as Joint Coordinators and Account Banks, while ADCB, Commercial Bank of Dubai, and Mashreq also stepped in as Lead Arrangers and Bookrunners. ADCB will additionally serve as Facility and Security Agent, with CBD taking the role of Hedge Coordinator.
PD’s property empire spans more than 2,500 residential units, 60,000+ square meters of commercial space, and several hotels, forming a robust income-generating portfolio in the UAE’s two powerhouse cities.
The group has been active on the capital markets as well, tapping into a \$300 million sukuk program last year, part of a larger \$1 billion trust certificate issuance.
S\&P Global currently rates PD at B+ with a stable outlook, supported by assets valued at over AED 6.23 billion as of December 2024.
