The sponsors include TAV Havalimanlari Holding, Saudi Oger and Al Rajhi Holdings (the TIBAH Consortium).
The deal is one of the largest infrastructure projects in the Middle East so far this year. The new airport will have capacity to accommodate 8 million passengers in the first phase, which will be ready by 2015 and the project’s total area will be spread over four million square metres.
Global firm Norton Rose advised the sponsors, with its team led by partners Martin Preston and Mohammed Paracha in Dubai, Chris Brown in London and Alan Bainbridge in Abu Dhabi.
London-based magic circle firm Linklaters advised the lenders while New York’s White & Case advised the General Authority of Civil Aviation.