Nasdaq Dubai has welcomed the listing of a US$450 million Sukuk issued by Arada Developments LLC, one of the UAE’s leading master developers. The issuance, carried out under Arada Sukuk 2 Limited’s US$1 billion Trust Certificate Issuance Programme, will mature in 2030. It was met with strong investor demand, being oversubscribed more than four times and attracting over US$2 billion in orders from both regional and international investors. Priced at a profit rate of 7.150%, the Sukuk highlights growing confidence in Arada’s performance and prospects.
With this listing, Arada’s total outstanding Sukuk on Nasdaq Dubai now stands at US$1.5 billion across three transactions, strengthening its presence in the debt capital markets.
To mark the occasion, HRH Prince Khaled bin Alwaleed bin Talal Al Saud, Executive Vice Chairman of Arada, rang the market-opening bell at Nasdaq Dubai, alongside Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM).
Prince Khaled said the company’s third Sukuk listing reflects the rising confidence of international investors: “Since our last issuance, we have expanded into two new markets and achieved record results across launches, sales, and deliveries.
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