A global consortium tasked with designing and building the Dubai Metro Blue Line has agreed a Dh3.9 billion ($1.06 billion) financing deal, in a “key milestone” for the emirate's flagship public transport project.
Leading UAE bank Emirates NBD will provide the substantial loan – which it described as syndicated bonded facilities – to the group made up of Turkish companies Mapa and Limak and China's CRRC.
Dubai's Roads and Transport Authority awarded the contract for the development of the rail expansion scheme to the consortium in December.
The RTA this month appointed engineering company Parsons in a project management role for the Blue Line, which will include design review and construction supervision.
The major rail plan is critical to Dubai's efforts to boost connectivity and encourage drivers to shift to public transport to ease congestion, amid the emirate's population boom.
The Blue Line is scheduled to open in September 2029, marking the 20th anniversary of the launch of Dubai Metro.
The Dh20.5 billion project will include 14 new stations, connect with the existing Green and Red lines, and serve expanding neighbourhoods such as Mirdif, Dubai Silicon Oasis, Dubai Creek Harbour and Dubai International City.
It will add 30km to the Metro network, 15.5km of which will be underground. When completed, the Metro network will be 131km long with 78 stations served by 168 trains.
The ambitious public transport drive is central to the Dubai 2040 Urban Master Plan, which has easier commuting among its priorities.
Dubai's Roads and Transport Authority said the Blue Line would connect five principal urban regions – Bur Dubai/Deira, Downtown/Business Bay, Dubai Silicon Oasis, Dubai Marina/JBR and Expo City Dubai.
“The Dubai Metro Blue Line Project is a milestone undertaking that will strategically and significantly empower the continuous development of the emirate by providing a rising population with new, efficient, accessible and reliable public transportation and mobility solutions,” said Ahmed Al Qassim, group head of wholesale banking at Emirates NBD.
Murathan Doruk Gunal, vice president and chief executive of Mapa, said the finance package is a significant step forward for the scheme.
“The successful closing of the financing with Emirates NBD marks a key milestone and reflects the trust placed in our consortium’s ability to deliver complex, high-impact projects,” he said.
“At Mapa, we remain committed to contributing our engineering expertise and project-execution capabilities to support Dubai’s vision of sustainable and integrated urban development.”
Serdar Bacaksız, board member at the Limak Group of companies, added: “This financing agreement with Emirates NBD is a crucial milestone, empowering us to bring our global expertise, insights and innovative solutions to life, and contribute to Dubai's ambition for a seamlessly connected, sustainable city.”
Transport master plan on track
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, announced that work was under way on the Blue Line in June.
He wrote on X that the foundation stone for the line’s first station has been laid, in the Dubai Creek Harbour area, adding that it represents an “architectural icon”.
It will be called the Emaar Properties station and will be the world's tallest metro station at 74 metres.
Sheikh Mohammed said the Dubai Metro had transported more than 2.5 billion people since its launch, at an average of 900,000 per day, and the new route would be a “major addition” to the emirate’s transport infrastructure. “We continue to develop the city … we continue to build the best city to live in the world,” he said.
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Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
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Closing the loophole on sugary drinks
As The National reported last year, non-fizzy sugared drinks were not covered when the original tax was introduced in 2017. Sports drinks sold in supermarkets were found to contain, on average, 20 grams of sugar per 500ml bottle.
The non-fizzy drink AriZona Iced Tea contains 65 grams of sugar – about 16 teaspoons – per 680ml can. The average can costs about Dh6, which would rise to Dh9.
Drinks such as Starbucks Bottled Mocha Frappuccino contain 31g of sugar in 270ml, while Nescafe Mocha in a can contains 15.6g of sugar in a 240ml can.
Flavoured water, long-life fruit juice concentrates, pre-packaged sweetened coffee drinks fall under the ‘sweetened drink’ category
Not taxed:
Freshly squeezed fruit juices, ground coffee beans, tea leaves and pre-prepared flavoured milkshakes do not come under the ‘sweetened drink’ band.
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THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
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Favourite book: Science and geology
Favourite place to travel to: Washington DC
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Sharad Nair recommends three investment apps for UAE residents:
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- If you’re an experienced investor, and have $10,000 or more to invest, consider Saxo Bank. “Saxo Bank offers a more comprehensive trading platform with advanced features and insight for more experienced users. It offers a more personalised approach to opening and operating an account on their platform,” he says.
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1.
2.
3.
4.
5.
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Key figures in the life of the fort
Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.
Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.
Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.
Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.
Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.
Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.
Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.
Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.
Sources: Jayanti Maitra, www.adach.ae
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THE SPECS
Engine: 1.5-litre turbocharged four-cylinder
Transmission: Constant Variable (CVT)
Power: 141bhp
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The Birkin bag is made by Hermès.
It is named after actress and singer Jane Birkin
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Electric scooters: some rules to remember
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