"Emirates NBD" Completes a banking facility deal for"CBI Property" To finance a residential portfolio in Dubai
Dubai, May 21 / WAM / Emirates NBD and CBI Property Group, one of the European companies in the real estate sector, announced their success in completing a bank loan facility deal worth 367.3 million dirhams (equivalent to about 86 million euros) to finance a portfolio of luxury residential units in Dubai.
CBI Property owns 19 luxury residential units in Dubai, including 15 units still under construction by a number of prominent local real estate developers.
These properties are distributed among four residential projects, including the Bvlgari Lighthouse residential project on Jumeirah Bay Island, the Casa Canal and One Canal projects on the Dubai Water Canal, and the Mr. C Residences Downtown project in the Downtown Dubai area.
The banking facility will be used to cover a large portion of the deferred payments due on the CBI Property Group’s portfolio of development projects during the years 2026 and 2027, which reflects Emirates NBD’s confidence in the quality of the real estate assets owned by the group and in its credibility as a borrower.
CBI Property’s investment in the United Arab Emirates reflects its deep belief in Dubai’s continued position as a preferred destination for high-net-worth individuals looking for luxury housing, in light of the emirate’s excellent infrastructure, safe environment, economic vitality, and broad connectivity with all parts of the world, in addition to the growing role of the United Arab Emirates as a leading global center for business and investment.
CBI Property Group intends to sell these properties in stages after their completion, with the aim of achieving attractive returns in a market that continues to attract buyers from Europe, Asia, and the Middle East region in general.
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