The SLL aims to facilitate and support environmentally and socially sustainable economic activity and growth by incentivizing ambitious, predetermined sustainability performance objectives.
Majid Al Futtaim's five-year SLL is structured as a revolving credit facility (RCF) and is the largest corporate, non-government-linked SLL in the region of MENA, with over a dozen banks participating in the syndicate. The Company's agreement also includes a gender diversity target for women to constitute 30% of board members and senior management roles, aligning with the global aims of the 30% Club international alliance to increase corporate gender diversity.
One of Majid Al Futtaim’s core ambitions as part of this SLL is to have all its malls certified LEED Gold or better, which would be another first for the region.
Majid Al Futtaim's SLL is the largest in the region since the updated principles of the Loan Market Association (LMA) were published in May 2021, requiring independent, external verification of annual KPI performance reporting to ensure clarity and compliance against specific sustainability performance targets (SPTs).