Emirates NBD has finalized AED3.9 billion (around $1.1 billion) in Syndicated Bonding Facilities for a consortium formed by MAPA, LIMAK, and CRRC, which will deliver the new Dubai Metro ‘Blue Line’ Project. The Dubai Road and Transport Authority (RTA) awarded the design and build project for the Dubai Metro Blue Line to this consortium. Emirates NBD collaborated with the consortium as part of a comprehensive and seamless process, according to a statement.
Valued at AED20.5 billion (around $5.6 billion), this landmark infrastructure initiative is a key element of Dubai’s 2040 Urban Master Plan. It aims to create, develop, and expand a world-class network of public transportation services and mobility solutions, connecting communities with key locations, alleviating traffic congestion, and facilitating easier movement of people throughout the emirate.
Scheduled for completion by September 2029, the Dubai Metro Blue Line will provide seamless connections to the existing Red and Green Metro lines, as well as bus and taxi routes. Officially announced by the RTA at the end of last year, the project is expected to serve approximately 350,000 daily passengers by 2040.
Alignment with sustainable finance framework
As a state-of-the-art electrified railway network, the Dubai Metro Blue Line project aligns with the Emirates NBD Sustainable Finance Framework, qualifying as Green Financing under the “Clean Transportation” category.
Ahmed Al Qassim, group head of Wholesale Banking at Emirates NBD, remarked, “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. This major transaction positions Emirates NBD’s status as the go-to banking partner for diverse mega projects that are transforming Dubai’s landscape, capabilities, and global appeal.”
Murathan Doruk Günal, vice president & CEO at MAPA, stated, “We are proud to be part of this landmark infrastructure project, which is an integral part of the Dubai 2040 Urban Master Plan launched by His Highness Sheikh Mohammed Bin Rashid Al Maktoum. 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. 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 Limak Group of Companies, commented, “The new Dubai Metro Blue Line Project is a testament to Dubai’s forward-thinking approach to urban development. Limak is honoured to be a key partner in this transformative journey, collaborating with our esteemed colleagues. 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.”
Read more | Dubai Metro Blue Line unveiled: Major transit expansion to connect key city hubs by 2029
Projected benefits and cost ratio by 2040
The recently announced Dubai Metro Blue Line is poised to transform the city’s public transportation network. Spanning 30 km and featuring 14 stations, the new line will enhance mobility across nine key districts, projected to house over one million residents, as outlined in the Dubai 2040 Urban Master Plan.
By 2040, the project is expected to yield a benefit-cost ratio of AED2.60, meaning AED2.60 in benefits for every AED1 spent. The total anticipated benefits will exceed AED56.5 billion ($15.4 billion) by 2040. These benefits encompass significant savings in time and fuel, reduced accident-related fatalities, and lower carbon emissions.
In addition to its substantial economic returns, the Blue Line is expected to decrease traffic congestion on its served routes by 20 percent and increase land and property values near stations by up to 25 percent. The Dubai Metro Blue Line also offers a direct connection between Dubai International Airport and nine key areas along its route, ensuring that all major urban centers in Dubai are seamlessly connected by metro lines.
Foundation stone laying ceremony attended by Sheikh Mohammed
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, attended the foundation stone laying ceremony of the Dubai Metro Blue Line on Monday. Sheikh Mohammed also approved the architectural design of the Emaar Properties Station, the highest metro station in the world, standing at 74 meters.
Upon completion of the Dubai Metro Blue Line project, Dubai’s rail network will expand to a total of 131 km, comprising 78 stations and 168 trains. During the ceremony, Mattar Al Tayer, director general and chairman of the board of executive directors of the Roads and Transport Authority, highlighted the expansion of metro services in Dubai, including increased ridership, improved station design, and the growth in the number of stations and train carriages. The Dubai Metro has transported over 2.527 billion passengers since its launch in 2009 through the end of 2024, recording a daily average of 900,000 passengers in 2024.
Ridership has steadily increased over the years, from 38.887 million in 2010 to 69 million in 2011, reflecting a growth rate of 77 percent. It continued to rise to over 109 million passengers in 2012, reaching 275.4 million in 2024. According to studies, the number of Dubai Metro passengers is expected to exceed 300 million in 2026 and reach 320 million by 2031.
Unique features of the Blue Line
The Dubai Metro Blue Line consists of 14 stations, including three interchange stations at Al Jaddaf, Al Rashidiya, and International City 1, as well as an iconic station in Dubai Creek Harbour. By 2040, daily ridership on the Blue Line is projected to reach 320,000 passengers. It marks the first Dubai Metro line to traverse Dubai Creek on a 1,300-meter-long viaduct.
Al Tayer explained that the Dubai Metro Blue Line connects to the Green Line at Creek Station and the Red Line at Centrepoint Station. The line serves residential and academic zones, as well as key development projects, with an estimated population of one million by 2040. It also links to the Dubai Silicon Oasis – one of the urban centers outlined in the Dubai 2040 Urban Master Plan.
The Blue Line comprises two main routes. The first route runs from Creek Interchange Station on the Green Line, located in Al Jaddaf, passing through Dubai Festival City, Dubai Creek Harbour, and Ras Al Khor, before reaching International City 1, which includes an underground interchange station. This segment spans 21 km and connects 10 stations. Meanwhile, the second route of the Dubai Metro Blue Line starts from the Centrepoint Interchange Station on the Red Line in Al Rashidiya, passing through Mirdif and Al Warqa, concluding at the International City 1 Interchange Station. This route measures 9 km in length and links four stations. The project also includes the construction of a metro depot at Al Ruwayah 3.
The maximum capacity of the Dubai Metro Blue Line exceeds 850,000 passengers per day, based on the scale of the stations included within the project scope. Passenger numbers are expected to reach 200,000 per day by 2030, rising to 320,000 per day by 2040.
