IL&FS Transportation Networks (ITNL) has announced it has achieved financial close for the development of the Dubai Supreme Court and Automated Car Park facility, one of the largest in the world.

Park Line, the SPV for the project, is a joint venture between Next Generation Parking (NGP), a KBW Investments company, and ITNL Infrastructure Developers, a subsidiary of ITNL.

This is the first project developed under the new Dubai's PPP law introduced in November 2015. As we reported, Dubai Courts awarded Park Line the project in May 2016.

The project involves the development of existing surface car park area into an integrated multi-use development to house the Supreme Courts Offices, its ancillary services and a state-of-the-art Robotic Car Park for 1,232 spaces.

The total project cost amounts to US$80 million and the period concessions is 30 years.

The Dubai Supreme Court complex will have a total area of 55,742 sq m. It will include, as well, the construction of a new Supreme Court building, with a built-up area of 4,420 sq m in which will be located over 50 Supreme Court judges. Additionally, it is expected to be built 18,600 sq m of office space and 3,154 sq m of retail space.