Dubai—Dentons has acted for Abu Dhabi Islamic Bank PJSC (ADIB) in relation to an AED 1 billion sustainability-linked financing for Aldar Properties PJSC (Aldar). As part of the innovative financing, Aldar has committed to investing a fixed amount in one or more qualifying environmental, social and governance (ESG) projects if it does not reach certain agreed annual ESG targets. These ESG targets are aligned with Aldar’s sustainability strategy and were identified to be material to both Aldar and the wider real estate sector. Dentons advised ADIB acting as the sole financier.

The Dentons team was led by Abu Dhabi Managing Partner Nathaniel Armstrong with assistance from Shaakir Daud and Najeeb Gill. Nathaniel commented: "This financing underscores both ADIB's and Aldar's commitment to sustainability and follows a number of sustainability-linked financings worked on by Dentons over the last few years. It was a pleasure to be involved."

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