Emirates NBD closes club financing for UNEC's Deira Mall

1 Min | 21 February 2018

Emirates NBD, a leading bank in the region, successfully concluded financing amounting to AED 1.30 billion for UNEC (United Engineering Construction Company) towards building work on Dubai-based property developer Nakheel's Deira Mall project.

Dubai, 21 February, 2018: Emirates NBD, a leading bank in the region, successfully concluded financing amounting to AED 1.30 billion for UNEC (United Engineering Construction Company) towards building work on Dubai-based property developer Nakheel’s Deira Mall project.

Emirates NBD acted as agent bank, security agent and mandated lead arranger in the club financing arrangement that included Commercial Bank of Dubai and Arab Bank as mandated lead arrangers. The landmark deal was undertaken by Emirates NBD’s Corporate Banking Group – Contracting division.

With four million square feet of leasable area, the Dhs4.2bn Deira Mall will have the biggest shop space in Dubai when complete. Deira Mall will feature over 1,000 shops, cafes, restaurants and entertainment outlets across three floors and a multi-storey car park with 8,400 spaces. The Mall will be located at the heart of Deira Islands, Nakheel’s new 15.3 sq km waterfront city that is part of Dubai’s 2021 vision.

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