India's IDBI Bank, Meydan in $120 million loan deal

Dubai: India's IDBI Bank is releasing a $120 million long-term, syndicated loan to Meydan to develop a township community within its Meydan Heights cluster.

The former had recently come on board as advisor and project financing partner for Meydan.

To be built over three years, Meydan Heights will feature 528 townhouses over a 2.94 million square feet area and would be completed in three years. The Emirates airline will use these properties to house their new pilot recruits.