Arabian Post Staff -Dubai
Kabir Mulchandani
Dubai-based lifestyle and hospitality conglomerate FIVE Holdings has secured a $460 million revolving credit facility that will be used to repay its $350 million green bond ahead of schedule and free up capital for further growth. The facility, arranged with Commercial Bank of Dubai, AAIB and Santander, enables the group to retire its green bond three years before it matures, leaving it with more than $300 million in cash for strategic deployment.
The credit line comes as FIVE plans to invest roughly $500 million over the coming two years to bolster its footprint in Dubai and Ibiza while tapping markets in the United States and Asia.
FIVE reported revenue of $589 million in fiscal 2024, marking a 28 percent increase over 2023, and an EBITDA of $208 million, up 17 percent year-on-year. Its first-half 2025 numbers continued the growth trend: revenues rose 21 percent to $298 million, and EBITDA climbed 24 percent to $105 million.
Focusing on its core markets, FIVE’s Dubai properties generated $177 million in revenue in H1 2025—a 24 percent rise—with hotel occupancy at 85 percent and revenue per available room hitting $310. Food and beverage operations brought in $36.4 million, while social events contributed $45.3 million. Live events accounted for $10.6 million in incremental revenue.
In Ibiza, following the group’s 2023 acquisition of the Pacha Group, the unit delivered €43.2 million in revenue in H1 2025 and EBITDA of €13.1 million. The flagship nightclub hosted 64 events in the quarter, drawing 222,018 guests—a 25 percent increase year-on-year. The hotels under Pacha reported occupancy rates of around 84–87 percent, with average daily rates and revenue per room rising significantly.
Kabir Mulchandani, chairman and CEO of FIVE Holdings, emphasised that the backing from leading global banks underscores confidence in the group’s vision and balance sheet resilience. He reiterated that FIVE’s strategy is centred on “experiential hospitality” which combines gastronomy, nightlife and high-energy entertainment driven by electronic music.
By retiring its green bond early, FIVE expects to reduce interest costs and avoid refinancing risk. The move is consistent with wider trends in sustainable finance, where companies are turning increasingly to ESG-aligned borrowing to access favourable funding terms.
Also published on Medium.
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