Latest news with #Sharjah-based
Arabian Post
a day ago
- Business
- Arabian Post
Arada Eyes $500 Million Sukuk to Fuel Gulf Land Acquisitions
Arada Developments, the Sharjah-based property developer, is preparing to raise up to $500 million via an Islamic bond as it joins a wave of Gulf real estate firms turning to debt markets to fund expansion. The group plans to launch the issuance next week to finance new land purchases and capitalise on a construction surge across the United Arab Emirates. The proposed sukuk issue represents a strategic step for Arada to strengthen its position amid intensified regional economic diversification efforts and an escalating boom in property development across the UAE. With past sukuk issuances drawing strong demand, the company aims to repeat that success to secure favourable financing terms. Arada previously issued a $400 million sukuk in June 2024 under its $1 billion programme, followed by a $150 million tap in September that attracted an order book exceeding $1.45 billion. In September 2022, the firm also issued a benchmark $500 million debut sukuk, tightening from initial guidance and attracting strong investor interest. ADVERTISEMENT Regional corporate sukuk issuance has surged, offsetting a dip in sovereign debt. LSEG data show corporate bond and sukuk sales climbed 52% year‑on‑year in the GCC during the first five months of 2025, even as total issuance fell overall. UAE debt issuance grew in the first half of 2025, although green bond and sukuk volumes declined sharply. Within the UAE, developers such as Sobha Realty and Omniyat also issued $500 million sukuk in May, highlighting strong appetite in the Islamic finance market for real estate funding. The overall trend underlines a rising preference for sharia‑compliant financing instruments to support both corporate needs and state diversification agendas. Founded in 2017 by Sharjah's deputy ruler Sheikh Sultan bin Ahmed Al Qasimi and Saudi Prince Khaled bin Alwaleed bin Talal Al Saud, Arada has rapidly scaled its presence in Sharjah and Dubai, launching developments valued at AED 60 billion and exploring international expansion into Australia. The company also plans to enter the Australian market fully by the end of 2025. Arada's prior promises to land acquisitions and project funding seem to extend with this latest sukuk. The proceeds will directly support the acquisition of new land parcels, ensuring the company can sustain its pipeline of projects including township developments, wellness‑focused residential schemes and branded hospitality offerings. The firm's decision to revert to debt markets follows its move early this month to seek approval for modifications to financial covenants on its existing $500 million trust certificates due 2027. Arada sought to raise leverage limits—net indebtedness to equity and EBITDA ratios—from current 1.5:1 and 3.0:1 to 2.0:1 and 4.0:1 respectively—prompting a consent solicitation that attracted strong holder engagement. A meeting on July 23 in London will finalise this vote. While global uncertainties—from oil price swings to geopolitical tensions—have weighed on capital markets, Gulf property developers have continued to tap sukuk issuance to spread costs and manage growth. Analysts argue that solid investor interest, particularly from Asia, sovereign wealth diversification and the Emirates' push into non‑oil sectors have sustained this demand.
Business Recorder
2 days ago
- Business
- Business Recorder
UAE developer Arada seeks $500 million Islamic bond as construction booms
DUBAI: United Arab Emirates property firm Arada Developments is seeking up to $500 million from an Islamic bond, or sukuk, two sources familiar with the matter said, as it joins other property firms tapping debt markets amid a construction boom in the Gulf state. Sharjah-based Arada would join a slew of Gulf property firms to issue bonds this year, which have tapped debt markets forfinancing needs and to capitalise on a real estate boom as Gulf countries accelerate economic diversification strategies. Arada plans to launch the bond next week and use funds from the debt sale to acquire new land, the sources said, declining to be named because they were not authorised to speak publicly. The plan was not yet finalised, they said. A spokesperson for Arada did not respond to a Reuters request for comment. Arada last tapped debt markets in September for a $150 million tap of its $400 million sukuk due 2029 which attracted strong demand and offered a yield of more than 7%. In the Middle East and North Africa, issuers raised a record $32.2 billion through sukuk in the six months to June 30, according to LSEG data, defying tariff uncertainty, geopolitical tensions and volatile oil prices. Regional developers which have raised Islamic debt this year include Dubai's Sobha Realty and Omniyat, both raising $500 million in May. Arada was established in 2017 by Sharjah's deputy ruler, Sheikh Sultan bin Ahmed AlQasimi and Prince Khaled bin Alwaleed bin Talal AlSaud, the son of Saudi billionaire Prince Alwaleed Bin Talal. It has projects and assets in its home country, and expects to launch sales and construction in Australia by the end of 2025. The company posted total revenue of $1.1 billion last year, up around 40% from 2023, according to a company presentation.
Time of India
02-07-2025
- Business
- Time of India
Air Arabia to launch direct flights on Sharjah–Prague route starting December
Air Arabia will begin daily flights from Sharjah to Prague starting December 20, expanding its European network and boosting regional travel./Image: File Air Arabia, the Sharjah-based low-cost carrier, has announced the launch of daily non-stop flights to Prague, the capital of the Czech Republic, starting December 20, 2025. The new route marks an expansion of the airline's European network, enhancing connectivity between the UAE and Central Europe. Direct Access to a Popular European Destination With this addition, passengers flying out of Sharjah International Airport will gain direct access to Prague, a city celebrated for its historic architecture, cultural heritage, and tourism appeal. 'We are pleased to expand our European network with the launch of our new flights to Prague, a city known for its stunning architecture, vibrant history and strong tourism appeal,' said Adel Al Ali, Group CEO of Air Arabia in a public statement. 'This new route reflects our ongoing commitment to offering our customers more travel choices while supporting trade and tourism between both countries.' The addition of Prague further strengthens the airline's European network and unlocks exciting travel options to explore the beauty of Europe, in addition to Vienna, Athens, Krakow, Warsaw (Chopin and Modlin), Milan Bergamo. Air Arabia continues to expand its robust network of destinations, offering direct connectivity from Sharjah to cities across the Middle East, North Africa Asia and Europe. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo Known for its fairytale charm, vibrant arts scene, and historical landmarks, Prague offers unforgettable experiences for travellers, year-round. The launch of the Prague route marks another milestone in Air Arabia's efforts to enhance connectivity between the UAE and major cities across Europe. Fleet and Fare Offers Air Arabia will operate the route using its modern fleet of Airbus A320 and A321 aircraft, known for fuel efficiency and comfort. Customers can now book their direct flights between Sharjah and Prague by visiting Air Arabia's website , calling the call centre, or through travel agencies. Earlier this week, the airline launched a limited-time promotional sale offering one-way fares starting at Dh149 ($40). The promotion applies to bookings made between June 30 and July 6, for travel between July 14 and September 30, 2025.
Arabian Post
01-07-2025
- Business
- Arabian Post
Summer Skies Just Got Cheaper
Arabian Post Staff -Dubai Sharjah-based carrier Air Arabia has unveiled a limited-time mega sale, offering one-way fares starting from just Dh149. The promotion runs from June 30 to July 6, 2025, and applies to travel scheduled between July 14 and September 30, 2025. The headline offer of Dh149 applies to flights from Sharjah to Bahrain and Muscat, spurring travel demand across the Gulf Cooperation Council. Other GCC destinations such as Dammam, Riyadh, Salalah and Kuwait begin at Dh199, while routes to Abha, Tabuk and Yanbu are priced from Dh298. More premium Gulf destinations, including Doha, Jeddah, Madinah and Taif, come in at Dh399, Dh449 and Dh574 respectively. ADVERTISEMENT South Asian routes feature compelling deals. From Sharjah to Ahmedabad, Delhi and Mumbai, fares are available from Dh299, Dh317 and Dh323. Flights to Thiruvananthapuram start at Dh325, while Abu Dhabi-origin flights include Dh275 for Chennai, Dh315 for Kochi, Dh499 for Dhaka and Dh549 for Chattogram. The sale follows Air Arabia's strong financial performance in the first quarter of 2025. The carrier reported a net profit of Dh355 million for the quarter ending March 31, up 34 per cent from Dh266 million in the same period of 2024. Total turnover rose 14 per cent to Dh1.75 billion, with passenger numbers climbing 11 per cent to 4.9 million and an average seat load factor of 84 per cent. Analysts suggest the promotion is designed both to capitalise on peak summer travel demand and reinforce Air Arabia's market share. 'By launching a mega sale at the start of the summer period, Air Arabia is applying strategic pricing pressure in a highly competitive GCC aviation market,' says aviation expert Sara Al-Mansoori. Her analysis indicates that budget carriers increasingly must balance promotional pricing with yield management to avoid revenue dilution. The broader aviation context in the UAE supports such aggressive offer strategies. Competing airlines, including Etihad Airways, have launched discount initiatives that match heightened travel demand. For instance, Etihad's summer sale offers up to 25 per cent off on round-trip economy fares until July 3, with travel valid from July 20 to September 12. This trend suggests a concerted effort by regional carriers to attract price-sensitive leisure travellers, while also filling seats during off-peak hours or on emerging routes. Air Arabia's capacity expansion further informs its ability to run such promotions confidently. The carrier has added new destinations—including Damascus, with flights resuming 10 July—and expanded its frequency on existing routes. Increased aircraft utilisation drives down unit costs, making low base fares viable while still yielding profitability. Load factors in Q1 support this capacity strategy, reflecting solid uptake even at promotional price points. ADVERTISEMENT Public response has been visible online, with travel-focused X accounts and social media threads echoing enthusiasm. A post on travelobiz's X account states: 'Air Arabia Mega Sale! Fly from Sharjah with one‑way fares starting at just Dh149!'. While social media buzz is expected, confirmed ticket pricing on stock booking platforms like Air Arabia's official website corroborates the offers, affirming veracity beyond promotional headlines. Consumers stand to gain from the competitive pricing, although awareness around baggage charges, seat selection fees and fare restrictions remains crucial. Budget-friendly base fares frequently exclude extras, prompting passengers to weigh overall cost versus perceived savings. Air Arabia's spokesperson advises: 'Travellers should review booking terms carefully—specifically baggage allowances and change fees—to fully assess the total cost.' Industry analysts support this guidance, advising passengers to conduct transparent comparisons including add-on fees. The timing of the sale aligns with school holiday patterns across the GCC and parts of South Asia. Families and leisure travellers planning summer breaks ahead of the academic year can take advantage of the fare window. However, seat availability is expected to be limited on popular routes, potentially applying pressure on consumers to book early to secure the advertised fare. From a competitive standpoint, low pricing may pressure other Gulf-based budget carriers, including flydubai. Market observers anticipate a wave of counter-promotions in the coming days, particularly targeting overlapping city pairs such as Sharjah‑Muscat and Sharjah‑Doha. For travellers, this could spell continued availability of discounted fare options through July. In addition to stimulating short-term travel, the sale reinforces Air Arabia's brand as a value-focused carrier, reinforcing its positioning among price-sensitive travellers. Its Q1 financial success supports ongoing network expansion and promotional flexibility, allowing the airline to use pricing as a strategic lever while preserving profit margins.
Gulf Insider
26-06-2025
- Business
- Gulf Insider
UAE Flights: Air Arabia Starts Resuming Operations
Sharjah-based airline Air Arabia confirmed on Wednesday that it has started resuming operations on previously suspended flights. 'As regional airspace continues to open, Air Arabia is gradually resuming operations. Customers are advised to visit to check the latest updates and their flight status. Affected passengers will be notified directly via SMS and email,' the airline said. 'Air Arabia remains fully committed to the safety of our customers and crew, and we appreciate your patience and understanding during this period,' the airline added. In an earlier update, the airline said it had temporarily suspended all flights to and from Iran, Iraq, Russia, Armenia, Georgia and Azerbaijan until June 30. Jordan flights were on hold until June 26. Earlier today, Dubai-based carrier flydubai said it will resume operations to the Syrian capital from June 26, 2025. This move comes as more airspace in the region reopens and restrictions are lifted. The carrier plans to resume its full schedule across the network from July 1, following the completion of all necessary assessments. 'This remains a developing situation, and both flight and network planning are continuously reviewed, with flydubai operating within approved international air corridors and adjusting frequencies as required,' the airline said. In Abu Dhabi, Etihad flights to Tel Aviv, will remain suspended until July 15, the Abu Dhabi-based airline said. Meanwhile, Wizz Air Abu Dhabi has cancelled flights to and from the UAE until June 30, in line with a similar move by Hungarian carrier Wizz Air. Dubai's flagship carrier, Emirates, announced on Tuesday that its regularly scheduled flight operations have fully resumed, experiencing only 'minimal disruptions'. Also read: Qatar Airways CEO Reveals Details Behind Travel Recovery: 151 Disrupted Flights, 20,000 Passengers Diverted Mid-Air, 35,000 Meals for Stranded Passengers
