NASDAQ Dubai welcomed the listing of $450 million worth of sukuk from Arada Real Estate Development yesterday. These sukuk were issued as part of the Arada Limited Sukuk Program, which has a total value of $1 billion and is set to mature in 2030.
The issue attracted significant interest from a broad spectrum of regional and international investors, with subscriptions exceeding four times the initial offering. More than $2 billion in subscriptions were recorded, and the issuance was priced for an investment yield of 7.150%, reflecting strong demand and investor confidence.
This listing reinforces Arada’s distinguished presence in financial markets and debt instruments, increasing the total value of its sukuk listings on NASDAQ Dubai to $1.5 billion across three issuances.
To celebrate the listing, Prince Khaled bin Alwaleed bin Talal Al Saud, Vice Chairman of Arada, rang the opening bell at NASDAQ Dubai, joined by Hamed Ali, CEO of Dubai Financial Market and NASDAQ Dubai.
Prince Khaled expressed, “We are thrilled to return to NASDAQ Dubai for our third sukuk issuance, reflecting the growing confidence of international investors in Arada. Since our last issuance, we have expanded into two new markets and have continued to achieve record results in launches, sales, and deliveries.
This strong performance has bolstered global interest in our sukuk program and cements our position as one of the fastest-growing major developers in the region.”
Hamed Ali commented, “The new sukuk listing from Arada illustrates the depth and diversity of NASDAQ Dubai and confirms the wide-ranging confidence investors have in the issuer. This listing enhances opportunities for our global investor base.”
As the premier international exchange in the region, we remain committed to connecting issuers with global capital and supporting the growth trajectory of leading Emirati companies, further establishing Dubai as a global hub for Islamic finance.
With this listing, the total value of sukuk listings on NASDAQ Dubai increases to $100.6 billion, while the overall value of debt instruments listed on the exchange surpasses $141.6 billion.