Nasdaq Dubai welcomes Arada's $450m oversubscribed Sukuk

Nasdaq Dubai welcomed the listing of a $450 million Sukuk issued by Arada Developments (Arada), a leading UAE-based master developer.

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Issued under Arada Sukuk 2 Limited's $1 billion Trust Certificate Issuance Programme, the Sukuk matures in 2030.

The offering was oversubscribed more than four times, attracting over $2 billion in orders from regional and international investors. The issuance was priced at a profit rate of 7.150 per cent, reflecting strong investor appetite.

This listing builds on Arada's established track record in the debt capital markets. Following this admission, Arada's total outstanding Sukuk on Nasdaq Dubai now amount to $1.5 billion across three transactions.

Prince Khaled Bin Alwaleed Bin Talal Al Saud, Executive Vice Chairman of Arada, rang the market-opening bell at Nasdaq Dubai on behalf of the company to celebrate the listing, in the presence of Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM).

Prince Khaled said, "We are delighted to be returning to Nasdaq Dubai for the listing of our third Sukuk, which reflects the continued rise in international investor confidence in Arada. Since our last issuance, we have expanded into two new markets and continue to achieve record results across launches, sales and deliveries. This strong performance has underpinned significant global demand for our Sukuk programme and reinforces our position as one of the region's fastest-growing master developers."