Emirates NBD and Galadari Sports complete new Green Term Loan Facility for development of state-of-the-art community sports complex in Dubai
Located in Al Quoz, the complex aligns with Emirates NBD's Sustainable Finance Framework and will meet Dubai Municipality's Sa'fat green building certification
Project supports the UAE's Net Zero 2050 agenda by empowering financial institutions and private companies to develop energy-efficient infrastructure
Dubai, UAE,kiye MENAT region, has announced the successful completion of a new Green Term Loan Facility with Galadari Sports, part of Galadari Brothers, a leading Dubai-based conglomerate, to fund the construction of a new sports complex in the emirate.
The state-of-the-art facility will be built to the strict rules and parameters of Dubai Municipality's Sa'fat Gold certification for green buildings, while funding for the project aligns with Emirates NBD's Sustainable Finance Framework.
Located in Al Quoz neighborhood, the complex is among only a few privately funded developments that are targeting Sa'fat Gold certification. A flagship project for Galadari Sports, once completed it will help to set new standards in sustainability for recreational buildings and associated infrastructure.
As a key part of securing funding through Emirates NBD's Sustainable Finance Framework and official Loan Market Association (LMA) Green Loan Principles, construction of the new complex will adhere to stringent protocols governing building processes and materials, while regular environmental monitoring and annual impact reports will assess its ongoing compliance.
Once completed, the new green-certified community facility will feature swimming pools, gyms, squash and padel courts, with power and utilities provided by innovative and sustainable systems including solar panels and water recycling.
Emirates NBD is committed to enabling the UAE's transformation into a green, low-carbon economy through initiatives such as its Sustainable Finance Framework. Part of a wide-ranging economic empowerment strategy, Emirates NBD's Sustainable Finance Framework is aligned with the aims of the United Nations Sustainable Development Goals (SDGs) and the UAE's Vision 2030 and Net Zero 2050 plans.
Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, said: '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. The availability of new financing tools across sectors enables important collaborations between banking institutions and private companies, allowing for the creation of increased value through responsible, economically-empowering and environmentally-friendly developments. Projects such as the Galadari Sports complex are at the forefront of a new wave of sustainable urban growth, with innovative green buildings – constructed according to the guiding principles of Dubai Municipality's Sa'fat Gold certification and aligned with Emirates NBD's Sustainable Finance Framework – providing essential services to communities.'
Mohammed Galadari, Co-Chairman and Group CEO of Galadari Brothers, said: 'This state-of-the-art project reflects our continued commitment to advancing sustainable development in the UAE. By investing in energy-efficient infrastructure and embracing green finance, we are proud to support the nation's Net Zero 2050 agenda while delivering long-term value to our communities. Our partnership with Emirates NBD marks a significant milestone for Galadari Brothers and reinforces our belief in the power of responsible, future-focused development. As we expand our presence in the wellness and recreation sector, sustainability will remain a core pillar of our long-term vision and growth strategy.'
About Emirates NBD:
Emirates NBD (DFM: Emirates NBD) is a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region with a presence in 13 countries, serving over 9 million active customers. As at 31st March 2025, total assets were AED 1 trillion, (equivalent to approx. USD 272 billion). The Group has operations in the UAE, Egypt, India, Türkiye, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 839 branches and 4,539 ATMs / SDMs. Emirates NBD is the leading financial services brand in the UAE with a Brand value of USD 4.54 billion.
Emirates NBD Group serves its customers (individuals, businesses, governments, and institutions) and helps them realise their financial objectives through a range of banking products and services including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations. The Group is a key participant in the global digital banking industry with 97% of all financial transactions and requests conducted outside of its branches. The Group also operates Liv, the lifestyle digital bank by Emirates NBD, with close to half a million users, it continues to be the fastest-growing bank in the region.
Emirates NBD contributes to the construction of a sustainable future as an active participant and supporter of the UAE's main development and sustainability initiatives, including financial wellness and the inclusion of people of determination. Emirates NBD is committed to supporting the UAE's Year of Sustainability as Principal Banking Partner of COP28 and an early supporter to the Dubai Can sustainability initiative, a city-wide initiative aimed to reduce use of single-use plastic bottled water.
About Galadari Brothers:
For more than 60 years, Galadari Brothers has pioneered growth. We combine the ambition of a powerful partner with the inspired spirit of a family-owned business, with the company thriving across various sectors – from media to heavy equipment, food & beverage, motors, engineering, projects, facility management, sports, travel and hospitality, real estate, and other ventures. That's why some of the world's most admired brands, including Baskin Robbins, Komatsu, Mazda, Dunkin', Kawasaki, JCB, Kyochon, Triumph, Sitrak, and more, trust us with their growth.
Our team of more than 6,000 pioneers operate across ten countries to drive growth for licensed and owned brands, including Khaleej Times, Halla Shawarma, Shabestan and Galadari Energy Solutions. Together, we are creating a world of boundless innovation and creativity, to elevate the GCC and beyond.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Egypt Independent
3 hours ago
- Egypt Independent
Trump grants TikTok another 90-day extension in enforcement of sale-or-ban law
TikTok just got another lifeline from the White House, with President Donald Trump set to delay enforcement of the sale-or-ban law by another 90 days. 'President Trump will sign an additional Executive Order this week to keep TikTok up and running,' Karoline Leavitt, White House press secretary, said in a statement on Tuesday. 'As he has said many times, President Trump does not want TikTok to go dark. This extension will last 90 days, which the Administration will spend working to ensure this deal is closed so that the American people can continue to use TikTok with the assurance that their data is safe and secure.' On Thursday, Trump confirmed that he'd signed an executive order delaying enforcement of the law by 90 days in a Truth Social post. The deadline for TikTok parent company ByteDance to hand over control of TikTok's US operations is now September 17. It's been about five months since a law requiring TikTok to be banned in the United States unless it's sold off by its China-based parent company technically went into effect. But thanks to President Donald Trump's promises not to enforce the law, neither of those things have happened, aside from an approximately 14-hour blackout in January. Tuesday's announcement marks Trump's third extension of the ban. The announcement means that the app will remain accessible for its 170 million American users despite the legislation that passed last year with bipartisan support over concerns that TikTok's Chinese ownership poses a US national security risk. And it comes as both the United States and China seek leverage in tense trade talks, in which TikTok appears to have become a bargaining chip. The TikTok sale-or-ban law went into effect on January 19 after it was signed by former President Joe Biden last year. TikTok briefly took itself offline, sparking outcry from creators, but quickly came back after Trump signed an order delaying the ban's enforcement by 75 days. It was one of his first acts as president, made in hopes of reaching a deal to keep the app 'alive.' In April, a deal that would have transferred majority control of TikTok's US operations to American ownership was nearly finalized. But it fell apart after Trump announced additional tariffs on China, forcing the president to announce another 75-day delay to keep the app operational in the United States. 'There are key matters to be resolved. Any agreement will be subject to approval under Chinese law,' TikTok parent company ByteDance said after Trump's tariff policy stalled progress on the deal in April. That pause was set to expire on June 19, before Trump's Thursday executive order. . Trump's latest enforcement delay raises questions about the status of a deal that could secure TikTok's long-term future in the United States. The Chinese government has offered little public indication that it would be willing to approve a sale beyond suggesting that any deal could not include TikTok's 'algorithm,' which has been called the app's secret sauce. In a statement on Thursday, TikTok indicated that it is still in talks with the office of Vice President JD Vance — who Trump appointed to oversee the effort — on a deal that would secure the popular short-form video platform's future in the United States. 'We are grateful for President Trump's leadership and support in ensuring that TikTok continues to be available for more than 170 million American users and 7.5 million U.S. businesses that rely on the platform as we continue to work with Vice President Vance's Office,' TikTok said in a statement. The new extension comes after the United States and China agreed on a framework to ease export controls, a move that's expected to ease tensions and prevent further escalation of export and other restrictions between the two countries. It's not clear whether a TikTok deal is included in the framework, but cooperation between the two sides could make an agreement to transfer control of the app to a US buyer more likely. Earlier on Tuesday, Trump told reporters that a TikTok deal would 'probably' require approval by the Chinese government and said, 'I think we'll get it.' 'I think President Xi will ultimately approve it, yes,' the US president added. The deal that had been in the making earlier this year would have involved several American venture capital funds, private equity firms and tech giants investing in a company that would control TikTok's US operations. TikTok's China-based owner, ByteDance, would have retained a 20% stake in the spinoff company — a key stipulation of the law. Several other high-profile bidders had also put their hands up to acquire the platform, including a group led by billionaire Frank McCourt and 'Shark Tank'-famous investor Kevin O'Leary, Amazon, AI firm Perplexity and a separate group of investors that included YouTube and TikTok star Jimmy Donaldson, known online as MrBeast. It was Trump who first tried to ban TikTok during his previous administration, but he has said he changed his mind after he 'got to use it.' TikTok CEO Shou Chew attended Trump's inauguration, seated on stage alongside Cabinet secretaries and other tech CEOs.
CairoScene
14 hours ago
- CairoScene
Swypex Launches Egypt's First Approval-Based Corporate Card
Backed by Accel and licensed by Egypt's central bank, Swypex's new product brings dynamic, policy-driven spend controls to local businesses as part of its Premium offering. Jun 20, 2025 Cairo-based fintech platform Swypex has launched Egypt's first Approval-Based Limits Card, a new product designed to give businesses precise control over employee spending. The card is available exclusively through Swypex Premium, the company's recently introduced subscription tier for enterprise financial management. The Approval-Based Limits Card allows finance teams to assign dynamic spending limits that remain locked until individual transactions are reviewed and approved. This model, inspired by petty cash systems, enables a rotating balance approach — giving finance departments real-time visibility and automated enforcement of internal policies. Swypex's rollout comes amid Egypt's accelerating digital transformation. While mobile wallets and financial inclusion are on the rise — with over 74% of adults now financially included — nearly 94% of business payments remain undigitised. Swypex aims to close that gap by delivering fintech solutions tailored to Egypt's business environment, while adhering to global product standards. 'Egyptian businesses want control without friction, and this card gives them exactly that,' said Ahmad Mokhtar, Co-Founder and CEO of Swypex. 'Approval-Based Limit Cards bring a new standard of precision and agility to business finance. It's the bridge between old-world cash management and seamless, secure corporate spending.' The new card is one of several features available through Swypex Premium, which also includes unlimited cashback, flexible spend controls, and custom approval workflows. The broader Swypex platform integrates payments, invoicing, corporate cards, and financial operations into a single interface. Swypex is licensed by the Central Bank of Egypt and backed by a $4 million seed round led by Accel — the venture capital firm's first fintech investment in the MENA region. The company positions its platform as an end-to-end financial stack for businesses looking to modernise their operations, with onboarding that takes just three minutes.
Mid East Info
a day ago
- Mid East Info
Majid Al Futtaim Collaborates with Coca-Cola Middle East and Sparklo Furthering its Commitment to Promoting Circular Communities
The partnership will see Coca-Cola Middle East sponsor a few Reverse Vending Machines RVMs in key Carrefour locations, serving as an extension to Carrefour's existing recycling efforts. The aim is to collect 1.8 million bottles a year, which can reduce CO ₂ emissions. Dubai, United Arab Emirates, June 2025 : Majid Al Futtaim, which owns the exclusive rights to operate Carrefour in the UAE, announces its partnership with Coca-Cola Middle East and Sparklo, a UAE-based cleantech company, to boost Carrefour recycling efforts under the Reverse Vending Machine (RVM) initiative. This collaboration, driven by a shared commitment to building a community of eco-conscious customers and a focus on innovation, will see Coca-Cola co-operate RVMs in key Carrefour locations across the UAE, building on the programme's proven success in promoting collection and recycling and contributing to the UAE's ambitious sustainability agenda. Carrefour's RVM initiative, powered by Sparklo's innovative technology, was launched in July 2023, and since then it has empowered customers to actively support circularity by incentivising recycling. Using the Sparklo app, users earn points for each item recycled and they can redeem the points for rewards from participating partners. Rewards include savings at Carrefour, discounted taxi rides, among others. Based on the 2024 Sparklomats RVMs results, the partnership is projected to collect over 1.8 million plastic bottles and aluminium cans annually, with an average of over 1,000 containers per day, helping to contribute to CO₂ emissions reduction. Commenting on the partnership, Jean-Luc Graziato, Chief Operating Officer at Majid Al Futtaim – Retail , said: 'We are committed to playing an active role in advancing sustainability across the UAE, in support of the nation's vision for environmental leadership and its ambitious goals around waste reduction and responsible consumption. Our partnership with Coca-Cola and Sparklo is a powerful example of how collaboration can drive scalable impact. By leveraging advanced technologies, we are transforming our retail spaces to serve greater purpose; empowering customers to actively participate in building a circular economy.' 'At Coca-Cola, we aim to grow our business in ways that drive positive change and build a more sustainable future for our planet. Through our partnership with Majid Al Futtaim and Sparklo, we are making it easier for people in the UAE to recycle and contribute to circularity and sustainability. This initiative is part of our broader efforts to improve waste collection and strengthen local recycling infrastructure, helping to build a circular economy where packaging is collected, recycled, and reused,' said Andrew Buckingham, Vice President and General Manager at The Coca-Cola Company Middle East. 'We're glad to see our joint initiative with Majid Al Futtaim now supported by Coca-Cola. It shows a shared commitment to making it simple and engaging for people to recycle bottles and cans. Together, we're building the infrastructure to collect every bottle in the UAE and show what real progress on sustainability can look like,' added Maxim Kaplevich, Founder and CEO of Sparklo. The collaboration also supports the ambitions of the UAE Circular Economy Policy 2031, which aims to divert 75% of waste from landfills by 2030 by promoting recycling, reusing material, and reducing reliance on raw resources. Through the initiative, Carrefour, Coca-Cola, and Sparklo are accelerating the UAE's transition towards a waste-free, circular economy. The co-operated machines are located across Carrefour stores at Ibn Battuta Mall, City Centre Mirdiff, City Centre Deira, and Burjuman Mall in Dubai, and Dalma Mall in Abu Dhabi. About Majid Al Futtaim Retail: Founded in 1992, Majid Al Futtaim is an Emirati-owned, diversified lifestyle conglomerate operating shopping malls, communities, retail and leisure outlets, across the Middle East, Africa and Asia. The Group employs 43,000 people, with owned assets valued at US$19 billion, and has the highest credit rating ( BBB) among privately held corporates in the region. Majid Al Futtaim Retail holds the exclusive rights to operate Carrefour across 12 markets in the Middle East, Africa, and Asia, with a network of over 390 stores. It is also the owner and operator of HyperMax, a new grocery retail brand with 44 locations in Jordan and Oman. Additionally, the Group operates Supeco, its latest grocery retail concept—a low-cost hybrid model that combines a traditional supermarket with a wholesale warehouse—across 15 locations in Egypt, and Myli, the Group's health and beauty brand, operating in 12 stores across Asia and North Africa. To meet the growing needs of its diverse customer base and communities, Majid Al Futtaim Retail offers omnichannel customer experiences tailored to the needs of the modern consumer. Through its innovative physical and digital customer services, Majid Al Futtaim Retail provides access to an unrivalled choice of quality products, at unbeatable value for over 700,000 customers it serves daily. Aligning with the Group's commitment to support local economies, local producers and suppliers, Majid Al Futtaim Retail resources over 80 percent of its products from the region. About Coca-Cola Middle East: The Coca-Cola Company (NYSE: KO) is a total beverage company, with products sold in more than 200 countries and territories. The Coca-Cola Company Middle East operation spans across 12 markets including GCC countries, Iraq, Yemen and the Levant. With 23 bottling plants across the region, our portfolio includes nearly 20 sparkling soft drink brands including Coca-Cola, Sprite, Fanta, Thums Up, QJ, Canada Dry and Schweppes; our hydration and juice brands include Arwa, Crystal, Al Waha, Dasani minera, Safia, Minute Maid, Cappy, Fuze Tea and glaceau smartwater. Our company's purpose is to refresh the world and make a difference and we're constantly transforming our portfolio to bring innovative new products with something for everyone. We also seek to positively impact people's lives, communities and the planet through our sustainability initiatives – from water replenishment to waste management, recycling to women empowerment initiatives while we continue to create a rewarding ecosystem for our employees, partners, consumers and customers. About Sparklo: Sparklo is a global UAE-based cleantech company that revolutionises the recycling industry and encourages sustainable practices worldwide. Through its innovative reverse vending machines (RVMs) known as Sparklomats, the company motivates users to recycle plastic bottles and aluminium cans by offering engaging rewards. Sparklo's cutting-edge software and hardware solutions utilise AI and machine learning to optimise recycling processes, making it fun and easy for individuals to contribute to a sustainable lifestyle. With a growing network of more than 250,000 users in the UAE alone, Sparklo collects over 200,000 bottles and cans daily. The company operates in over ten countries, including the UAE, Saudi Arabia, Oman, Qatar, Vietnam, India, Thailand, Kazakhstan, and Georgia.
