Latest news with #NASDAQDubai
Arabian Post
14-05-2025
- Business
- Arabian Post
Sobha Realty's $500m Sukuk Draws Robust Global Demand
Sobha Realty has successfully completed a $500 million sukuk issuance, marking a significant milestone in its financing strategy. The issuance, part of a $1.5 billion Sukuk Issuance Programme, attracted substantial investor interest, with the order book oversubscribed three times, reaching $1.54 billion. This strong demand led to a tightening of the yield to 8% per annum, down from the initial price thoughts of 8.375%. The sukuk, maturing in 2029, has been listed on both the London Stock Exchange and NASDAQ Dubai. Allocation of the issuance saw 61% directed to local investors and 39% to international participants, underscoring the global confidence in Sobha Realty's financial health and the positive outlook for Dubai's real estate sector. This latest issuance follows Sobha Realty's strategic tap into its existing sukuk framework. The initial $300 million sukuk was issued in July 2023, with an outstanding balance of $270 million prior to this tap. The combined efforts have elevated the company's total sukuk holdings to the benchmark size of $500 million. The transaction was facilitated by a consortium of financial institutions, including Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital, Sharjah Islamic Bank, and Standard Chartered Bank, serving as Joint Global Coordinators, Joint Lead Managers, and Bookrunners. Legal counsel was provided by Clifford Chance and Dentons, while Grant Thornton acted as the auditor, ensuring transparency and adherence to regulatory standards. Credit rating agencies have acknowledged Sobha Realty's robust financial performance. Standard & Poor's upgraded the company's rating from BB-/Positive to BB/Stable, and Moody's elevated the sukuk rating from Ba3/Stable to Ba2/Stable. These upgrades reflect the company's substantial EBITDA growth, a larger revenue backlog, and improved EBITDA margins. See also FAB Faces Leadership Flux Amid Strategic Overhaul Sobha Realty's strategic financial maneuvers align with its broader growth trajectory. In 2024, the company reported record-breaking sales of AED 23 billion, including AED 5 billion from the launch of Sobha Siniya Island. This performance represents approximately 50% year-on-year growth, driven by a diverse portfolio of properties in the UAE. The company's expansion plans extend beyond the region, with initiatives to establish a presence in the USA and Australia. Additionally, Sobha Realty has been recognized as the second most recalled real estate brand in the UAE for the second consecutive year, according to a brand health study among property seekers.
Zawya
12-05-2025
- Business
- Zawya
OMNIYAT debuts inaugural green sukuk on Nasdaq Dubai
Dubai, United Arab Emirates: OMNIYAT, Dubai's leading ultra-luxury real estate developer, has successfully listed its inaugural green sukuk on NASDAQ Dubai. OMNIYAT raised USD 500 million through a 3-year Islamic offering. This transaction marks their entry into the international debt capital markets and reaffirms its commitment to long-term financial strength and sustainable development. The green sukuk was met with strong demand from international and regional investors, with the order book oversubscribed 3.6x times, reaching USD 1.8 billion. The green sukuk certificates were priced at a spread of 461.7 basis points over the 3-year US Treasury yield and carry a profit rate of 8.375%. The proceeds from the issuance will be used in line with OMNIYAT's Green Financing Framework to primarily finance investments in sustainable development. This framework is fully aligned with the ICMA Green Bond Principles (GBP) 2021, ensuring international best practice and investor transparency. Mahdi Amjad, Founder & Executive Chairman at OMNIYAT, commented: 'Today's bell ringing marks more than just a financial milestone, it signals OMNIYAT's long-term commitment to sustainable growth and responsible investment. The successful launch of this green sukuk reflects our belief that profitability and positive environmental impact are intertwined. The oversubscription and subsequent successful issuance is a testament to the growing appetite for investment vehicles that drive both economic growth and sustainable outcomes. We are proud to list our green sukuk on NASDAQ Dubai, a world-class international exchange that offers unparalleled visibility, transparency, and connectivity to global investors. We thank the NASDAQ Dubai team for their invaluable support throughout this journey. This platform provides the ideal infrastructure to facilitate seamless market access and supports our ambition to deepen engagement with both regional and international capital markets.' The issuance follows OMNIYAT'S 'BB-' long-term credit rating assigned by S&P Global and a first-time Long-Term Issuer Default Rating (IDR) of 'BB-' by Fitch Ratings, with both rating agencies assigning a stable outlook. OMNIYAT's business model, underpinned by strategic developments in prime locations such as Palm Jumeirah and Business Bay, has enabled them to capture consistent demand from ultra-high-net-worth international buyers and reinforce its leading position in the ultra-luxury real estate market in Dubai. Source: AETOSWire
Web Release
12-05-2025
- Business
- Web Release
OMNIYAT Debuts Inaugural Green Sukuk on Nasdaq Dubai
By Editor_wr On May 12, 2025 OMNIYAT, Dubai's leading ultra-luxury real estate developer, has successfully listed its inaugural green sukuk on NASDAQ Dubai. OMNIYAT raised USD 500 million through a 3-year Islamic offering. This transaction marks their entry into the international debt capital markets and reaffirms its commitment to long-term financial strength and sustainable development. The green sukuk was met with strong demand from international and regional investors, with the order book oversubscribed 3.6x times, reaching USD 1.8 billion. The green sukuk certificates were priced at a spread of 461.7 basis points over the 3-year US Treasury yield and carry a profit rate of 8.375%. The proceeds from the issuance will be used in line with OMNIYAT's Green Financing Framework to primarily finance investments in sustainable development. This framework is fully aligned with the ICMA Green Bond Principles (GBP) 2021, ensuring international best practice and investor transparency. Mahdi Amjad, Founder & Executive Chairman at OMNIYAT, commented: 'Today's bell ringing marks more than just a financial milestone, it signals OMNIYAT's long-term commitment to sustainable growth and responsible investment. The successful launch of this green sukuk reflects our belief that profitability and positive environmental impact are intertwined. The oversubscription and subsequent successful issuance is a testament to the growing appetite for investment vehicles that drive both economic growth and sustainable outcomes. We are proud to list our green sukuk on NASDAQ Dubai, a world-class international exchange that offers unparalleled visibility, transparency, and connectivity to global investors. We thank the NASDAQ Dubai team for their invaluable support throughout this journey. This platform provides the ideal infrastructure to facilitate seamless market access and supports our ambition to deepen engagement with both regional and international capital markets.' The issuance follows OMNIYAT'S 'BB-' long-term credit rating assigned by S&P Global and a first-time Long-Term Issuer Default Rating (IDR) of 'BB-' by Fitch Ratings, with both rating agencies assigning a stable outlook. OMNIYAT's business model, underpinned by strategic developments in prime locations such as Palm Jumeirah and Business Bay, has enabled them to capture consistent demand from ultra-high-net-worth international buyers and reinforce its leading position in the ultra-luxury real estate market in Dubai. OMNIYAT Debuts Inaugural Green Sukuk on Nasdaq Dubai Comments are closed.
Khaleej Times
12-05-2025
- Business
- Khaleej Times
OMNIYAT debuts inaugural green sukuk on Nasdaq Dubai
OMNIYAT successfully lists a three-year $500 million green sukuk with a profit rate of 8.375% on NASDAQ Dubai OMNIYAT, Dubai's leading ultra-luxury real estate developer, has successfully listed its inaugural green sukuk on NASDAQ Dubai. OMNIYAT raised $500 million through a three-year Islamic offering. This transaction marks their entry into the international debt capital markets and reaffirms its commitment to long-term financial strength and sustainable development. The green sukuk was met with strong demand from international and regional investors, with the order book oversubscribed 3.6x times, reaching $1.8 billion. The green sukuk certificates were priced at a spread of 461.7 basis points over the 3-year US Treasury yield and carry a profit rate of 8.375%. The proceeds from the issuance will be used in line with OMNIYAT's Green Financing Framework to primarily finance investments in sustainable development. This framework is fully aligned with the ICMA Green Bond Principles (GBP) 2021, ensuring international best practice and investor transparency. Mahdi Amjad, founder and executive chairman at OMNIYAT, commented: "Today's bell ringing marks more than just a financial milestone, it signals OMNIYAT's long-term commitment to sustainable growth and responsible investment. The successful launch of this green sukuk reflects our belief that profitability and positive environmental impact are intertwined. The oversubscription and subsequent successful issuance is a testament to the growing appetite for investment vehicles that drive both economic growth and sustainable outcomes. "We are proud to list our green sukuk on NASDAQ Dubai, a world-class international exchange that offers unparalleled visibility, transparency, and connectivity to global investors. We thank the NASDAQ Dubai team for their invaluable support throughout this journey. This platform provides the ideal infrastructure to facilitate seamless market access and supports our ambition to deepen engagement with both regional and international capital markets," Amjad added. The issuance follows OMNIYAT'S 'BB-' long-term credit rating assigned by S&P Global and a first-time Long-Term Issuer Default Rating (IDR) of 'BB-' by Fitch Ratings, with both rating agencies assigning a stable outlook. OMNIYAT's business model, underpinned by strategic developments in prime locations such as Palm Jumeirah and Business Bay, has enabled them to capture consistent demand from ultra-high-net-worth international buyers and reinforce its leading position in the ultra-luxury real estate market in Dubai.
Yahoo
12-05-2025
- Business
- Yahoo
OMNIYAT Debuts Inaugural Green Sukuk on Nasdaq Dubai
DUBAI, United Arab Emirates, May 12, 2025--(BUSINESS WIRE)--OMNIYAT, Dubai's leading ultra-luxury real estate developer, has successfully listed its inaugural green sukuk on NASDAQ Dubai. OMNIYAT raised USD 500 million through a 3-year Islamic offering. This transaction marks their entry into the international debt capital markets and reaffirms its commitment to long-term financial strength and sustainable development. The green sukuk was met with strong demand from international and regional investors, with the order book oversubscribed 3.6x times, reaching USD 1.8 billion. The green sukuk certificates were priced at a spread of 461.7 basis points over the 3-year US Treasury yield and carry a profit rate of 8.375%. The proceeds from the issuance will be used in line with OMNIYAT's Green Financing Framework to primarily finance investments in sustainable development. This framework is fully aligned with the ICMA Green Bond Principles (GBP) 2021, ensuring international best practice and investor transparency. Mahdi Amjad, Founder & Executive Chairman at OMNIYAT, commented: "Today's bell ringing marks more than just a financial milestone, it signals OMNIYAT's long-term commitment to sustainable growth and responsible investment. The successful launch of this green sukuk reflects our belief that profitability and positive environmental impact are intertwined. The oversubscription and subsequent successful issuance is a testament to the growing appetite for investment vehicles that drive both economic growth and sustainable outcomes. "We are proud to list our green sukuk on NASDAQ Dubai, a world-class international exchange that offers unparalleled visibility, transparency, and connectivity to global investors. We thank the NASDAQ Dubai team for their invaluable support throughout this journey. This platform provides the ideal infrastructure to facilitate seamless market access and supports our ambition to deepen engagement with both regional and international capital markets." The issuance follows OMNIYAT's 'BB-' long-term credit rating assigned by S&P Global and a first-time Long-Term Issuer Default Rating (IDR) of 'BB-' by Fitch Ratings, with both rating agencies assigning a stable outlook. OMNIYAT's business model, underpinned by strategic developments in prime locations such as Palm Jumeirah and Business Bay, has enabled them to capture consistent demand from ultra-high-net-worth international buyers and reinforce its leading position in the ultra-luxury real estate market in Dubai. Source: AETOSWire View source version on Contacts Celine Aswad (+971)56-536-4322Omniyat@ Sign in to access your portfolio
