UAE-based satellite operator Space42 has secured a landmark $695.5 million export credit facility to finance the construction and launch of its next-generation satellites, Al Yah 4 and Al Yah 5. The financing marks a major step forward in the UAE’s ambition to lead in sovereign space infrastructure and secure regional connectivity.
The funding was arranged by a consortium of leading European banks, including Crédit Agricole CIB, Santander CIB, Société Générale, and Natixis. The deal is backed by Bpifrance Assurance Export, the French government’s export credit agency, which provides insurance for the facility.
Set for launch in 2027 and 2028, Al Yah 4 and 5 will deliver high-performance, secure communications services across the Middle East, Africa, Europe, and Asia. The satellites will be equipped with software-defined payloads, allowing real-time reconfiguration of coverage and bandwidth, a critical capability for both defense and civil applications.
The project is supported by a 17-year, $5.1 billion contract with the UAE government, which begins in 2026 and guarantees long-term demand for the new capacity. The satellites will replace the older Al Yah 1 (launched in 2011) and Al Yah 2 (2012) satellites, ensuring continuity of service.
The deal also reinforces Space42’s position in the upstream satellite ecosystem, following its 2024 joint venture with ICEYE to bring satellite manufacturing to Abu Dhabi.
“This financing demonstrates growing international confidence in the UAE’s space sector and our commitment to advanced, sovereign satellite capabilities,” said a Space42 spokesperson.
With this move, Space42 not only advances its own infrastructure but strengthens the UAE’s role as a regional space power, capable of delivering cutting-edge communications technologies from orbit.
