A Breakthrough in Sustainable Development: Emirates NBD Partners with Galadari Sports
Emirates NBD, one of the leading banking institutions in the Middle East, North Africa, and Türkiye (Menat) region, is poised to make a significant impact in sustainable development with their recent collaboration with Galadari Sports. This partnership entails the successful completion of a new Green Term Loan Facility aimed at funding the construction of an innovative sports complex in Dubai.
Vision for a Green Sports Complex
The forthcoming sports complex, situated in the Al Quoz neighborhood, symbolizes a pioneering step towards sustainable construction in the UAE. Designed with precision, this facility is set to adhere to the stringent Sa’fat Gold certification standards imposed by the Dubai Municipality, marking it as one of the few privately funded projects aiming for such esteemed recognition. What sets this facility apart is its commitment to sustainability, a core value shared between Emirates NBD and Galadari Sports.
The complex will not only host various sporting amenities, such as swimming pools, gyms, squash, and padel courts, but it will also incorporate advanced green technologies like solar panels and water recycling systems. This holistic approach underscores a commitment not just to sports but to environmental stewardship.
Financial Backbone for Sustainability
Emirates NBD’s role in funding this project cannot be overstated. The bank’s Sustainable Finance Framework ensures that the financial resources allocated for this endeavor are in alignment with both the Loan Market Association (LMA) Green Loan Principles and the broader goals of sustainable finance. Through this framework, Emirates NBD champions environmentally conscious investment, setting an excellent example in the banking sector.
Regular environmental assessments and annual impact reports will also be conducted to monitor the project’s compliance with sustainability standards. This transparent approach not only underscores accountability but also ensures ongoing improvements in building practices.
A Commitment to the UAE’s Future
This initiative comes as part of Emirates NBD’s broader commitment to fostering a greener, low-carbon economy in the UAE. The bank’s Sustainable Finance Framework aligns seamlessly with the aspirations laid out in the United Nations Sustainable Development Goals (SDGs) and the UAE’s Vision 2030 and Net Zero 2050 plans.
The partnership with Galadari Sports exemplifies how various sectors can collaborate to bring about meaningful, sustainable change in urban infrastructure, and creates precedence for future projects that prioritize both economic growth and environmental responsibility.
Voices of Commitment: Galadari Brothers
Mohammed Galadari, Co-Chairman and Group CEO of Galadari Brothers, emphasized the project’s significance by stating, “This state-of-the-art project reflects our continued commitment to advancing sustainable development in the UAE.” His remarks highlight the organization’s focus on energy-efficient infrastructure and green finance, conveying a message of unity in purpose toward the nation’s Net Zero 2050 agenda.
Galadari’s sentiments encapsulate a broader philosophy that sustainable development is not a mere trend but a foundational principle that shapes their long-term vision and growth strategy in the wellness and recreation sector.
Collaboration for Sustainable Growth
In a similar vein, Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, expressed his enthusiasm for the partnership, saying, “This transaction between Emirates NBD and Galadari Sports is a clear and inspiring example of how sustainability-linked funding options continue to be a driving force in helping the UAE reach its Net Zero 2050 ambitions.” His insights reinforce the idea that collaborative efforts between banks and the private sector can yield significant benefits, driving environmentally-friendly developments that resonate with community needs.
Thus, as the Galadari Sports complex comes to life, it stands as a testament to what can be achieved when financial institutions and businesses unite under a shared vision of sustainability, demonstrating their commitment to creating a legacy for future generations.
