Meydan LLC – the investment arm of the Dubai Racing Club, has retained EmiratesNBD  as their exclusive lead financial advisor cum arranger for banking requirements relating to their new project development.

The agreement was signed on February 25th 2008 by Mr. Saeed Al Tayer, Chairman, Meydan LLC and Mr. Mahdi Kazim, General Manager, Top Corporates, EmiratesNBD in the presence of several high ranking officials from both sides.

Meydan is developing high end mixed use real estate and associated facilities alongside a very large upgrade of the existing Nad Al Shiba Race course. The project reflects the continued successful rollout of facilities targeted to establish Dubai as a luxury real estate location plus a major leisure and entertainment destination for the high end traveller. Meydan LLC will offer globally unrivalled horse racing facilities when completed according to Mr. Saeed Al Tayer, Chairman.

Emirates NBD was selected as the exclusive financier following a close and successful relationship that the Bank had with Meydan LLC. We are pleased to mandate our relationship bank which is also extremely well positioned in the project finance market in Dubai said Mr. Saeed Al Tayer.

Mr. Abdul Wahed Al Fahim, General Manager, Wholesale Banking, EmiratesNBD stated "This is a prestigious project and will be one of the landmarks of Dubai. We are very pleased to be associated with Government of Dubai initiatives driven by H.H. Shaikh Mohammed Bin Rashid Al Maktoum.

Reported on: 02/03/2008