Meydan secures $272m funding for Dubai projects

Group is involved in several projects including one on the banks of the Dubai Canal

Meydan Group has secured AED 1 billion ($272 million) in Islamic financing from banks to fund projects in Dubai, it has been reported.

The funding will go towards current and future projects, Reuters reported, quoting a statement from Meydan.

The developer’s current projects include schemes on the banks of the Dubai Canal and by the Meydan Racecourse.

Abu Dhabi Islamic Bank (ADIB), Dubai Islamic Bank and Al Hilal Bank were involved in the financing, it was reported.

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