Emaar Properties’ $500mn Sukuk listed on Nasdaq Dubai

By Arya M Nair, Official Reporter
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Mr. Jamal Bin Theniyah, Chairman of Emaar Properties, the region’s major real-estate company, rang the market-opening bell to commemorate the listing of a $500 million Sukuk by the region’s leading international exchange Nasdaq Dubai.  

The ceremony was attended by Mr. Ahmad Al Matrooshi, Executive Board Member of Emaar Properties; Mr. Rashid Al Shamsi, Board Member of Nasdaq Dubai, and Mr. Hamed Ali, CEO of Nasdaq Dubai and Deputy CEO of Dubai Financial Market, as well as senior executives from both sides.

The $500 million 10-year Sukuk issuance is part of Emaar Properties’ $2 billion Trust Certificates Issuance Program solely listed on Nasdaq Dubai. It has been priced at a 3.7 percent yield and attracted strong demand with the total value of investors’ applications exceeding $3.3 billion.

Jamal Bin Theniyah
Jamal Bin Theniyah
Emaar Properties

“The success of our latest Sukuk issuance indicates major investors’ confidence in both the Emaar Group and Dubai’s real estate market. This Sukuk also emphasizes Nasdaq Dubai’s vital role as a well-regulated platform in both regional and global markets.”

The Emaar Properties Sukuk was listed on Nasdaq Dubai on 6th July 2021, taking the total value of Sukuk listings on Dubai capital markets to $78.04 billion, confirming the emirate’s position as one of the world’s largest Sukuk listing venues.

Mr. Al Shamsi commented that “the accelerating pace of issuance and listing from leading institutions in the UAE and beyond underscores their deep confidence in Nasdaq Dubai’s favorable ecosystem.”

The issuances and listings have strongly reinforced Nasdaq Dubai’s status as the preferred listing venue for Sukuk and Bonds as well as its active role in realizing Dubai’s strategy as one of the leading financial hubs globally.

Mr. Hamed Ali said, “the listing provides further impetus to the Exchange’s prominent status as a world-class marketplace for the listing of Sukuk and bonds in the MENA region. Nasdaq Dubai is continuously enhancing its infrastructure and regulations to cater to the requirements of our prominent issuers seeking to finance their growth strategies as well as to provide investors with diversified opportunities.”

Related: Emirates Development Bank lists $750 million bond on Nasdaq Dubai