Abu Dhabi ruling family’s real estate firm closes $817mln financing deal
The Private Department of UAE’s Sheikh Mohamed Bin Khalid Al Nahyan LLC (PD) has closed a syndicated 3 billion UAE dirhams ($813 million) real estate financing deal.
The 10-year facility will be used to refinance its bank debt, settle sukuk obligations, and support PD’s general corporate purpose. The facility is secured by a portfolio of real estate assets across Abu Dhabi and Dubai.
The consortium of banks involved in the transaction includes Abu Dhabi Commercial Bank and Mashreqbank, acting as Joint Coordinators and Account Banks. ADCB, Commercial Bank of Dubai and Mashreq acted as Joint Mandated Lead Arrangers and Bookrunners, as well as Hedging Banks.
Additional roles include ADCB as Facility Agent and Security Agent, and CBD as Market Hedge Coordinator.
Established in 1964, PD is wholly owned by members of the Abu Dhabi ruling family and is the owner of diversified recurring income real estate portfolios, including 2,500 residential units, 60,009 sqm of commercial spaces, and hotels in the UAE capital and Dubai.
In 2023, PD settled a $50 million tap of its $300 million senior unsecured sukuk issued in September 2022 and listed on the London Stock Exchange, which came under its $1 billion Trust Certificate Issuance Programme.
According to its April 2025 financial report, PD is rated B+ (Stable) by S&P Global, with fixed assets valued at AED 6,230 billion as of 31st December 2024.
