The invention provides a substrate, a display device having the same and a fabricating method of the display device. The display device includes a first substrate, a second substrate that faces the first substrate, and a liquid crystal layer disposed between the first substrate and the second substrate. One of the first substrate and the second substrate includes a base substrate and a light blocking pattern disposed on a surface that faces the other surface of both surfaces of the base substrate, the light blocking pattern exposing a part of the base substrate. The light blocking pattern includes a semi-transmission reflective layer a disposed on the base substrate, a phase matching layer disposed on the semi-transmission reflective layer, and a reflective metal layer disposed on the phase matching layer. The phase matching layer and the reflective metal layer include materials having substantially the same etching rate.