Latest news with #RegSSukuk
Gulf Today
29-07-2025
- Business
- Gulf Today
Arada completes issuance of $450 million Sukuk
Arada Developments, rated B1 by Moody's and B+ by Fitch, has successfully completed the issuance of a $450 million Sukuk, which has been listed on the London Stock Exchange and the Nasdaq Dubai. The five-year fixed rate RegS Sukuk issuance, rated BB- by Fitch and B1 by Moody's, was priced with a coupon of 7.150 per cent, tightening 47.5bps- 60bps from the initial price guidance of 7.625 per cent-7.750 per cent for a spread of 317 bps over US Treasuries, for the tightest reoffer yield ever achieved by Arada. The proceeds of the issuance will be used for a tender offer of up to US$100 million on Arada's existing Sukuk maturing 2027, with the balance for general corporate purposes. The Sukuk issuance saw strong demand from both regional and international investors with a subscription order book peaking above $2 billion (excluding Joint Lead Managers), equivalent to over four times the offer size. Prince Khaled Bin Alwaleed Bin Talal, Executive Vice Chairman of Arada, said, "Our latest successful return to the global markets reflects once again the trust being placed by regional and international investors in Arada's track record, robust financial position and growth prospects. This issuance serves as a platform of our next phase of growth as we continue target growth opportunities both at home in the UAE and abroad.' Investor interest for the Sukuk was diversified geographically, coming from Europe, the Middle East and Asia. The investors for this issuance include banks, private banks, asset and fund managers, and hedge funds. The Joint Global Coordinators for the Sukuk were Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, Mashreq and Standard Chartered Bank, while Arab Bank, Arqaam Capital, Bank ABC, RAK Bank, Sharjah Islamic Bank and Warba Bank acted as Joint Lead Managers and Bookrunners. Since its launch in 2017, Arada has launched nine successful projects in both Sharjah and Dubai, and has a pipeline of existing and future projects in the UAE and Australia valued at over DhsD90 billion. In total, Arada has sold over 17,000 units since inception, valued at over Dhs29 billion, with over 10,000 units completed. WAM
Khaleej Times
29-07-2025
- Business
- Khaleej Times
Arada returns to debt markets with successful closure of $450 million sukuk
Arada Developments, rated B1 by Moody's and B+ by Fitch, has successfully completed the issuance of a $450 million sukuk, which has been listed on the London Stock Exchange and the Nasdaq Dubai. The five-year fixed rate RegS Sukuk issuance, rated BB- by Fitch and B1 by Moody's, was priced with a coupon of 7.150%, tightening 47.5bps- 60bps from the initial price guidance of 7.625%-7.750% for a spread of 317 bps over US Treasuries, for the tightest reoffer yield ever achieved by Arada. The proceeds of the issuance will be used for a tender offer of up to $100 million on Arada's existing sukuk maturing 2027, with the balance for general corporate purposes. The sukuk issuance saw strong demand from both regional and international investors with a subscription order book peaking above $2 billion (excluding joint lead managers), equivalent to over four times the offer size. Prince Khaled bin Alwaleed bin Talal, Executive Vice Chairman of Arada, said: 'Our latest successful return to the global markets reflects once again the trust being placed by regional and international investors in Arada's track record, robust financial position and growth prospects. This issuance serves as a platform of our next phase of growth as we continue target growth opportunities both at home in the UAE and abroad.' Investor interest for the sukuk was diversified geographically, coming from Europe, the Middle East and Asia. The investors for this issuance include banks, private banks, asset and fund managers, and hedge funds. The joint global coordinators for the sukuk were Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, Mashreq and Standard Chartered Bank, while Arab Bank, Arqaam Capital, Bank ABC, RAK Bank, Sharjah Islamic Bank and Warba Bank acted as Joint Lead Managers and Bookrunners. Since its launch in 2017, Arada has launched nine successful projects in both Sharjah and Dubai, and has a pipeline of existing and future projects in the UAE and Australia valued at over Dh90 billion. In total, Arada has sold over 17,000 units since inception, valued at over Dh29 billion, with over 10,000 units completed.
Sharjah 24
29-07-2025
- Business
- Sharjah 24
Arada completes closure of 4 times-oversubscribed $450 mn Sukuk
The five-year fixed rate RegS Sukuk issuance, rated BB- by Fitch and B1 by Moody's, was priced with a coupon of 7.150%, tightening 47.5bps- 60bps from the initial price guidance of 7.625%-7.750% for a spread of 317 bps over US Treasuries, for the tightest reoffer yield ever achieved by Arada. The proceeds of the issuance will be used for a tender offer of up to US$100 million on Arada's existing Sukuk maturing 2027, with the balance for general corporate purposes. The Sukuk issuance saw strong demand from both regional and international investors with a subscription order book peaking above US$2 billion (excluding Joint Lead Managers), equivalent to over four times the offer size. Prince Khaled bin Alwaleed bin Talal, Executive Vice Chairman of Arada, said, 'Our latest successful return to the global markets reflects once again the trust being placed by regional and international investors in Arada's track record, robust financial position and growth prospects. This issuance serves as a platform of our next phase of growth as we continue target growth opportunities both at home in the UAE and abroad.' Investor interest for the Sukuk was diversified geographically, coming from Europe, the Middle East and Asia. The investors for this issuance include banks, private banks, asset and fund managers, and hedge funds. The Joint Global Coordinators for the Sukuk were Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, Mashreq and Standard Chartered Bank, while Arab Bank, Arqaam Capital, Bank ABC, RAK Bank, Sharjah Islamic Bank and Warba Bank acted as Joint Lead Managers and Bookrunners. Since its launch in 2017, Arada has launched nine successful projects in both Sharjah and Dubai, and has a pipeline of existing and future projects in the UAE and Australia valued at over AED90 billion. In total, Arada has sold over 17,000 units since inception, valued at over AED29 billion, with over 10,000 units completed.
Trade Arabia
16-04-2025
- Business
- Trade Arabia
UAE dominates Forbes Middle East Real Estate Leaders 2025 list
Forbes Middle East has revealed its 2025 ranking of the region's 100 Most Impactful Real Estate Leaders, spotlighting the developers and decision-makers transforming the region's skylines. The list was compiled based on each leader's years of experience, the value of completed and ongoing projects, company financials including total assets and revenues where available, and the size of landbanks and number of units held. The UAE dominates this year's ranking with 42 leaders of companies headquartered in the country, followed by Saudi Arabia with 21 entries and Egypt with 16. Claiming the top spot is Hussain Sajwani, Founder and Chairman of Damac Properties. In February 2025, Damac had announced the pricing and settlement of its $750 million senior unsecured three-and-a-half-year Reg S Sukuk—its largest to date. Sajwani's net worth has doubled over the past year, rising from $5.1 billion in March 2024 to $10.2 billion as of March 2025. Mohamed Alabbar, Founder and Managing Director of Emaar Properties, ranks second, followed by Talal Al Dhiyebi, Group CEO of Aldar Properties, in third place. All three of the top leaders are based in the UAE, reinforcing the country's position as a leading real estate hub in the region. Besides Sajwani, four other billionaires - as recognised by Forbes as of March 2025 - appear on this year's list. These are Alabbar with an estimated fortune of $2.3 billion, Sobha Group's PNC Menon with an estimated fortune of $3.4 billion, Five Holdings' Kabir Mulchandani at $2.2 billion, and Palm Hills Developments' Yasseen Mansour with a net worth of $1.2 billion, said Forbes in a statement. Combined, the five billionaires control an estimated fortune worth $19.3 billion, it added. The list spans a diverse group of companies, from legacy institutions to ambitious newcomers. Bahrain's Kanoo Real Estate, managed by the CEO Mohamed Abdulelah Al Kooheji stands as the oldest developer on the list, having been established in 1890. The UAE-headquartered ONE Development, led by Founder and Chairman Ali Al Gebely, is the youngest listee, established in 2024. To continue the conversation on the future of real estate, Forbes Middle East will host its flagship 'Building The Future Summit' in Abu Dhabi on May 26–27, 2025, followed by the summit's first edition in Tripoli on May 29–30, 2025.- TradeArabia News Service
Zawya
16-04-2025
- Business
- Zawya
Forbes Middle East unveils The Middle East's most impactful real estate leaders 2025
UAE-based leaders reign with 42 entries, followed by 21 in Saudi Arabia and 16 in Egypt. DAMAC Properties' Hussain Sajwani tops the ranking. Five billionaires appear on the list, collectively worth $19.3 billion. Dubai: Forbes Middle East has revealed its 2025 ranking of the region's 100 Most Impactful Real Estate Leaders, spotlighting the developers and decision-makers transforming the region's skylines. The list was compiled based on each leader's years of experience, the value of completed and ongoing projects, company financials including total assets and revenues where available, and the size of landbanks and number of units held. The UAE dominates this year's ranking with 42 leaders of companies headquartered in the country, followed by Saudi Arabia with 21 entries and Egypt with 16. Claiming the top spot is Hussain Sajwani, Founder and Chairman of DAMAC Properties. In February 2025, DAMAC announced the pricing and settlement of its $750 million senior unsecured three-and-a-half-year Reg S Sukuk—its largest to date. Sajwani's net worth has doubled over the past year, rising from $5.1 billion in March 2024 to $10.2 billion as of March 2025. Mohamed Alabbar, Founder and Managing Director of Emaar Properties, ranks second, followed by Talal Al Dhiyebi, Group CEO of Aldar Properties, in third place. All three of the top leaders are based in the UAE, reinforcing the country's position as a leading real estate hub in the region. Besides Sajwani, four other billionaires – as recognized by Forbes as of March 2025 – appear on this year's list: Emaar Properties' Mohamed Alabbar with an estimated fortune of $2.3 billion, Sobha Group's PNC Menon with an estimated fortune of $3.4 billion, FIVE Holdings' Kabir Mulchandani at $2.2 billion, and Palm Hills Developments' Yasseen Mansour with a net worth of $1.2 billion. Combined, the five billionaires control an estimated fortune worth $19.3 billion. The list spans a diverse group of companies, from legacy institutions to ambitious newcomers. Bahrain's Kanoo Real Estate, managed by the CEO Mohamed Abdulelah Al Kooheji stands as the oldest developer on the list, having been established in 1890. The UAE-headquartered ONE Development, led by Founder and Chairman Ali Al Gebely, is the youngest listee, established in 2024. To continue the conversation on the future of real estate, Forbes Middle East will host its flagship 'Building The Future Summit' in Abu Dhabi on May 26–27, 2025, followed by the summit's first edition in Tripoli on May 29–30, 2025. Top 10 Most Impactful Real Estate Leaders In The Middle East 2025 1 | Hussain Sajwani Founder & Chairman, DAMAC Properties Country: U.A.E. Established: 2002 2 | Mohamed Alabbar Founder & Managing Director, Emaar Properties Country: U.A.E. Established: 1997 3 | Talal Al Dhiyebi Group CEO, Aldar Properties Country: U.A.E. Established: 2005 4 | Hisham Talaat Moustafa CEO & Managing Director, Talaat Moustafa Group Holding (TMG Holding) Country: Egypt Established: 1970 5 | Khalid Al Malik CEO, Dubai Holding Real Estate Country: U.A.E. Established: 2002 6 | Hesham Al Qassim CEO, Wasl Group Country: U.A.E. Established: 2008 7 | Abdullah bin Hamad Al Attiya Chairman, Qatari Diar Real Estate Investment Company Country: Qatar Established: 2005 8 | Muhammad BinGhatti Chairman, Binghatti Developers Country: U.A.E. Established: 2008 9 | PNC Menon Founder, Sobha Group Country: U.A.E. Established: 1976 10 | Rizwan Sajan Founder & Chairman, Danube Properties Country: U.A.E. Established: 2014 Click here to view the complete list of The Middle East's Most Impactful Real Estate Leaders 2025. About Forbes Middle East Forbes Middle East is a licensed edition of Forbes for the Arab world, championing inspiring business journalism and entrepreneurial capitalism. Its online and social platforms break news covering billionaires, business, investment, technology, economy, entrepreneurship, leadership, and luxury lifestyles. The monthly magazine, featuring in-depth interviews with the Middle East's most influential and innovative leaders, is published in print in English and Arabic, with digital versions available to both regional and global audiences online. Forbes Middle East extends the Forbes brand of journalism across the Arab world, conducting its own comprehensive research to publish original lists that adhere to strict methodologies. Its content attracts business leaders, investors, active and potential entrepreneurs, and a wide audience of ambitious and influential executives.
