Dubai Investments Park Development Company (DIPDC), a wholly owned subsidiary of Dubai Investments, has signed a Dh250-million ($68.06 million) syndicated loan agreement for the expansion of Dubai Investments Park (DIP), one of the largest industrial-cum-residential developments in the region.

The three-year syndicated term loan facility is structured to finance infrastructure development at the park.
Khalid Bin Kalban, managing director and CEO of Dubai Investments, signed contracts with 15 leading banks for the loan arrangement. Emirates Financial Services – the investment-banking subsidiary of Emirates Bank International – and Standard Chartered Bank are the mandated lead arrangers and joint book runners for the transaction.
Speaking at the signing ceremony, Bin Kalban said: “Dubai Investments Park’s state-of-the-art facilities have already attracted a multitude of companies from across the business and industrial spectrum. However, the demand for space at DIP has been only increasing, which persuaded us to expand our facilities. The syndicated loan agreement will ensure that we have an assured pool of funds to realise our goal of transforming the park into the premier business zone in the region.”
Suresh Kumar, CEO of Emirates Financial Services, said: “DIP is an important business destination, one that is at the forefront of Dubai’s rapid economic development. The fact that the deal was oversubscribed by over two times is testimony to the banking community’s confidence in this landmark project.”
Ray Fergusson, CEO of Standard Chartered Bank, said, “The rapid growth of Dubai has brought with it an unprecedented demand for financing facilities. No less than five banks involved in this syndicated loan facility are based outside the UAE, which indicates the strong demand for credit from UAE-based businesses. Through this arrangement, SCB further strengthens the close relationship it shares with Dubai Investments.”
Dubai Investments Park is a multi-phased project being developed at a cost of Dh1.5 billion on a total land area of 3,200 hectares. It provides infrastructure facilities to industries that want to set up their facilities without investing in auxiliary facilities. The park is witnessing a strong demand for land. DIP offers investors world-class infrastructure, state-of-the-art facilities and quality services for manufacturing, housing, academic, research and development, distribution and logistics purposes.