Latest news with #Omniyat
Trade Arabia
12-05-2025
- Business
- Trade Arabia
Nasdaq Dubai welcomes $500m Green Sukuk by Omniyat
Nasdaq Dubai today welcomed a $500 million Green Sukuk by Omniyat, a leading Dubai-based real estate developer. The three-year sukuk, maturing on May 6, 2028, was issued under a $1 billion Trust Certificate Issuance Programme and carries a profit rate of 8.375%. The sukuk will support the development of environmentally sustainable real estate projects across Omniyat's portfolio, with a focus on energy efficiency, sustainable construction and environmental performance. The issuance attracted strong demand from regional and international investors, with initial price thoughts around 8% tightening to the final rate, underscoring investor confidence in OMNIYAT's strategy and Dubai's real estate sector. Mahdi Amjad, Founder and Executive Chairman of Omniyat, rang the market opening bell on behalf of the company at Nasdaq Dubai to celebrate the listing in the presence of Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM). Mahdi Amjad, Founder and Executive Chairman of Omniyat, said: '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 are 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.' Hamed Ali, CEO of Nasdaq Dubai and DFM, said: "Omniyat's Green Sukuk listing is a strong addition to Nasdaq Dubai's ESG and Islamic finance ecosystem. It reflects the growing role of the private sector in advancing sustainable finance and adds further depth to the market. We are pleased to support Omniyat's capital markets journey and look forward to further collaboration as they continue to expand their impact." With this listing, the total value of ESG-linked debt instruments on Nasdaq Dubai has reached $29.6 billion, representing a growing share of the exchange's debt market. Green instruments account for over 60% of ESG listings, highlighting strong regional momentum toward sustainable capital markets. The total value of Sukuk listed on Nasdaq Dubai now stands at $96.2 billion, while the overall value of debt instruments on the exchange exceeds $138 billion. - TradeArabia News Service
Zawya
08-05-2025
- Business
- Zawya
Dubai developer Sobha Realty mandates banks for USD benchmark sukuk
Sukuk issuances in the UAE continue to attract real estate developers, with Sobha Realty being the latest firm to mandate banks for a three-year, dollar-denominated Reg S benchmark sukuk. Banks mandated include Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Arqaam Capital, Dubai Islamic Bank, Emirates NBD Capital, JP Morgan, Mashreq, RAKBANK, Sharjah Islamic Bank, Standard Chartered Bank and Warba Bank, which have been appointed joint lead managers and bookrunners. The offering will come under Sobha Sukuk l Holding Limited's $1.5 billion Trust Certificate Issuance Programme. PNC Investments, the parent of Sobha Realty, reduced the size of an existing $300 million sukuk by $30 million in September last year, and went in for a $230 million tap bringing the total to a benchmark sized $500 million. The company is the third largest real estate developer in Dubai, rated Ba2 by Moody's and BB by S&P, both with a stable outlook. In recent months, the UAE property rally has seen a string of developers come out with sukuk issuances, with Dubai-based luxury developer Omniyat being the latest with a $500 million green sukuk in April, following strong investor interest. Earlier in March, Aldar Investment Properties (AIP), a subsidiary of Abu Dhabi's Aldar Properties, also raised $500 million through a 10-year green sukuk, while Dubai's Damac Real Estate Development sold its first benchmark issuance in 18 months in February, with the $750 million 3.5-year sukuk.
Trade Arabia
07-05-2025
- Business
- Trade Arabia
Omniyat appoints contractor for Marasi Bay properties
UAE-based luxury property developer Omniyat has announced that it has awarded the main construction contract for its Vela and Vela Viento, its landmark properties in Dubai's waterfront destination Marasi Bay, to Arabian Construction Company (ACC Group). The two developments are central to Omniyat's plan to transform Marasi Bay into a high-end waterfront district featuring residential, commercial, and leisure facilities. Once completed, the destination will feature high-end hotels, signature residences, retail experiences, premium workspaces, and wellness-centric public spaces, all connected by a landscaped promenade and marina. Further landmark properties to be delivered in the district are Enara by Omniyat, a prestigious commercial development with world-class amenities, sustainable design, and an exclusive lifestyle experience, set for completion in late 2027, according to a statement by the Dubai-based developer. Construction on Vela and Vela Viento is under way, with site mobilisation and early construction milestones completed. The anticipated handover is scheduled for 2027, with Vela set for completion in the second quarter and Vela Viento in the third quarter, Omniyat stated. These projects join Omniyat's other luxury properties in the area, including The Lana and The Lana Residences, managed by Dorchester Collection. Designed in collaboration with renowned architects Foster + Partners and the Parisian design duo Gilles & Boissier, Vela and Vela Viento offer refined living experiences for the global elite. Managed by Dorchester Collection, the properties boast bespoke residences with expansive terraces, private pools, and floor-to-ceiling windows framing panoramic views of the Dubai Canal, Burj Khalifa, and Downtown skyline. Residents of both projects will enjoy seamless access to The Lana Hotel, and The Lana Residences. At Vela, the first of the two projects to launch, core structural work is advancing steadily, with nearly 50 per cent of the raft reinforcement complete, and MEP and façade contractors mobilised on-site. Vela Viento is set to push the boundaries of design with architectural features such as three duplex residences featuring 'hanging' dining rooms connecting its twin towers — a concept unique to the property. Vela Viento will also feature two crowning penthouses, and lifestyle amenities perched 100 m high, including an infinity pool, sun deck, yoga studio, and a double-height gym. Peter Stephenson, Co-Managing Director of Omniyat, commented: 'We are excited to work with one of the best-in-class contractors in the region on Vela and Vela Viento in Marasi Bay. The appointment of ACC Group is a critical milestone on our journey to redefine luxury living and further cement Marasi Bay's position as the region's most prestigious address. Aligned with our legacy of collaborating with partners who are committed to our vision, we trust in ACC's expertise and experience in bringing these exceptional developments to life.' Rasheed Mikati, Executive Director, ACC Group added: 'Omniyat has always delivered projects that speak to Dubai's evolution as a global beacon of design and ambition. With nearly six decades of expertise in creating world-class landmarks and critical infrastructure, we are committed to delivering Vela and Vela Viento to the highest global standards.'-TradeArabia News Service.
Zawya
07-05-2025
- Business
- Zawya
Dubai-based developer Omniyat appoints contractors for Marasi Bay residential luxury projects
Dubai-based developer Omniyat has awarded the main construction contract for its VELA and VELA Viento luxury residential projects in Marasi Bay to Arabian Construction Company (ACC). Main works on both projects are now in full swing, with site mobilisation and early construction milestones completed, the developer said in a statement. VELA will be handed over in the second quarter of 2027, followed by VELA Viento in the third quarter of the same year. Core structural work is advancing steadily at VELA, nearly 50 percent of the raft reinforcement complete, while MEP and façade contractors are mobilised on-site, the statement said. The contract and project values weren't disclosed. The projects have been designed in collaboration with UK-based architectural firm Foster + Partners and the Parisian design duo Gilles & Boissier. (Writing by P Deol; Editing by Anoop Menon) ( Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
What's On
06-05-2025
- Entertainment
- What's On
Review: Maison Dali plates up the curious and the quirky
One Spanish surrealist and one Scottish chef join forces for Maison Dali… New in The Opus by Omniyat – Maison Dali is the latest from the mind of Chef Tristin Farmer, having made his way around Michelin-starred kitchens in Singapore and Dubai. Back in the city, he's set up shop once again, this time in the heart of Business Bay, borrowing a little flavour and wonder from Slavador Dali's colourful life and times, and a whole lot from the giant that is Japanese cooking. Ambiance As soon as you step in, you're greeted by a cavernous space, draped almost entirely, in red. From the heavy, velvet curtains to the chairs, cushions and the lip-shaped couches, everything is crimson, and the crimson talks, because the rest of the interiors are done up in neutral shades, with marble tables, ivory tiled floors and lampshades, and one wall decked out like a disco ball. Surrealist artworks dot the walls here and there, complemented by a kitsch fake fireplace and a circular poster of Salvador Dali, laid over with a spiral illusion. A whimsical wall of extendable shaving mirrors replaces your generic full-size option in the bathroom. Maison Dali's feel is that of a polished bizarre, aspiring to be truly unrestrained but glossed over with shiny floors, smooth velvet chairs and an army of staff milling about on the floor, providing constant, near-and-far attention. It's packaged quite nicely, made pleasantly palatable for the typical Dubai diner. Food The start of our meal is strong – shokupan, or Japanese milk bread, steaming and gloriously soft, salty, with a melt-in-your-mouth malt, which we devour with butter. Next comes the Dali shellfish platter (Dhs395). This selection contains four crudos, of which the highlights are the French oysters boudeuse, a zesty, spicy and sweet, welcome burst of flavours with the yuzu mignonette and yellow pepper hot sauce; and the Japanese hamaguri clams, offering a sort of green freshness with cucumber, shiso and wasabi. For the small plates, the potato mochi (Dhs110) is the star, a chewy gnocchi, served cacio e pepe style, topped with a shocking amount of truffle, which the server shaves fresh on the table. It's cheesy, it's creamy and it offers a pointed bite in all that depth with the pepper. Incredibly moreish. The squid pil pil (Dhs95) is juicy, with sharp flavours from the kanzuri, garlic and salsa verde – overall, a bright, light dish. The mains come as the miso turbot (Dhs245) – aromatic, citrus-y fish, with yuzu, ginger and star anise, and stuffed morel. The fish is delicious; the morel is a textural pass and an acquired taste – one I may never acquire. The lobster donabe (Dhs195) is airy, with sansho, black truffle and juniper. The wood fired duck (285) comes out on top, the sweet, sticky sauce with hoisin and plum kosho adding so much flavour to the smoky, meaty duck. As we end with the gariguette strawberries (Dhs50) – sweet, tart and creamy in all the right ways – and the dark chocolate s'mores (Dhs45) – rich chocolate given body with the nutty sesame – we come to a number of conclusions. Maison Dali is a perfectly great addition to Dubai's roster of restaurants but a little clarity of concept could polish the experience into what it can be best. The food, invoking Japan with on-site dry aging, fermented ingredients and umami flavours, should perhaps capitalise on this very complexity, rather than a claim of simplicity. The food is delicious, but still experimental and not as affordable for the volume of regulars they are hoping to create. You will be told this is your next neighbourhood haunt – we're not sure we agree, but it's a solid choice for your next special occasion. What's On Verdict: We're here for what Maison Dali is serving. Maison Dali, The Opus by OMNIYAT, Mon to Fri, 12pm to 2.30pm, 6pm to 12am, Sat and Sun, 6pm to 1am, Tel: (0) 4 257 9554, @maisondali_dubai Images: Supplied
