Funding will finance continued investment in Meydan infrastructure
Meydan Group has signed a financing deal with Commercial Bank International (CBI) and strategic partner, QNB Group. The funding will finance continued investment in infrastructure across Meydan, which includes part of the real estate development of the prestigious Meydan Racecourse.
For Meydan , this is the latest in a series of important strategic finance relationships to support their project developments.
Meydan’s Chairman and CEO, Saeed Humaid Al Tayer said: “Meydan’s goals are in direct synergy with those of CBI and QNB Group, to encourage growth and further alliances across the GCC. We would like to thank them for their instrumental support in financing our ongoing efforts and commitment to the growth and prosperity of the region.”
CBI’s Chief Executive Officer, Kris Babicci added: “We are delighted to be a part of this landmark financing. The deal reinforces CBI’s commitment to supporting key growth sectors in the UAE. We have a strong relationship with Meydan, and this deal further reflects their confidence in our ability to deliver significant financing solutions, and to bring our partner QNB Group with us.”
CBI strengthened its position as a growing bank in the UAE this week, unveiling a new brand identity that reflects its strategic partnership with QNB Group, and opening four new branches.