Emirates NBD has successfully concluded AED3.9bn ($1.06bn) in Syndicated Bonding Facilities for the consortium responsible for delivering Dubai’s landmark Metro Blue Line Project, reinforcing its position as the leading banking partner for the UAE’s most ambitious infrastructure developments.
The consortium—comprising MAPA, LIMAK, and CRRC—was awarded the contract by Dubai’s Road and Transport Authority (RTA) to design and build the Blue Line, a key pillar of the Dubai 2040 Urban Master Plan.
Dubai Metro Blue Line finance
The entire project is valued at AED20.5bn ($5.58bn) and aims to revolutionise mobility across the emirate.
Scheduled for completion by September 2029, the Dubai Metro Blue Line will connect seamlessly with the city’s existing Red and Green Lines, integrating with Dubai’s wider transport system including buses and taxis.
Once operational, the electrified metro line is projected to serve 350,000 daily passengers by 2040, significantly easing traffic congestion and improving commuter convenience across the city.
Aligned with the Emirates NBD Sustainable Finance Framework, the financing qualifies as Green Financing under the “Clean Transportation” category, supporting Dubai’s commitment to eco-friendly infrastructure and urban development.
Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, said: “The Dubai Metro ‘Blue Line’ Project is a milestone undertaking that will strategically and significantly empower the continuous development of the emirate by providing a rising population with new, efficient, accessible, and reliable public transportation and mobility solutions.
“This major transaction positions Emirates NBD’s status as the go-to banking partner for diverse mega projects that are transforming Dubai’s landscape, capabilities, and global appeal.”
Murathan Doruk Günal, Vice President and CEO at MAPA, said: “We are proud to be part of this landmark infrastructure project, which is an integral part of the Dubai 2040 Urban Master Plan launched by His Highness Sheikh Mohammed Bin Rashid Al Maktoum.
“The successful closing of the financing with Emirates NBD marks a key milestone and reflects the trust placed in our consortium’s ability to deliver complex, high-impact projects.”
Serdar Bacaksız, Board Member at Limak Group of Companies, said: “The new Metro Blue Line Project is a testament to Dubai’s forward-thinking approach to urban development. Limak is honoured to be a key partner in this transformative journey, collaborating with our esteemed colleagues.”
The Metro Blue Line is set to be a transformative addition to the city’s world-class public transport infrastructure, helping deliver on the promise of a smart, integrated, and sustainable future for one of the world’s fastest-growing cities.
Stations under the Dubai Metro Blue Line will cover areas of:
- Dubai Creek Harbour
- Ras Al Khor industrial are
- Dubai International City 1
- Dubai International City 2 and 3
- Dubai Silicon Oasis
- Dubai International Academic City
- Mirdif City Centre
- Al Warqa’a
The new line is expected to serve over one million people living in the regions it will connect once operational. It is also expected to benefit over 50,000 students.
Once operational, the Blue Line will help ease traffic congestion on key Dubai roads within the project by 20 per cent.