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Chairman Jamal bin Theniyah rings market-opening bell to celebrate the listing of its $500 million Sukuk on Nasdaq Dubai
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The $500 million 10-year sukuk issuance is part of Emaar Properties’ $2 billion Trust Certificates Issuance Programme
Emaar Properties Chairman Jamal bin Theniyah on Tuesday rang the market-opening bell to celebrate the listing of its $500 million Sukuk on Nasdaq Dubai.
The $500 million 10-year sukuk issuance is part of Emaar Properties’ $2 billion Trust Certificates Issuance Programme solely listed on Nasdaq Dubai.
It has been priced at 3.7 per cent yield and attracted strong demand with total value of investors’ applications exceeding $3.3 billion.
“The UAE, with Dubai in particular, continues to be an attractive destination for investors due to its promising growth driven largely by a number of key Government initiatives since the onset of the pandemic. The success of our latest Sukuk issuance demonstrates major investors’ confidence in both the Emaar Group and Dubai’s real estate market. This Sukuk also underscores the critical role Nasdaq Dubai plays as a well-regulated platform within both regional and global markets,” said Theniyah.
The Emaar Properties Sukuk was listed on Nasdaq Dubai on July 6, 2021, taking the total value of sukuk listings on Dubai capital markets to $78.04 billion, reinforcing its position as the one of the world’s largest sukuk listing venues.
