Nasdaq Dubai has welcomed the listing of a US$450 million Sukuk issued by Arada Developments LLC, underscoring the UAE developer’s growing presence in international debt markets.
The issuance, part of Arada Sukuk 2 Limited’s US$1 billion Trust Certificate Issuance Programme, matures in 2030 and was more than four times oversubscribed. It attracted over US$2 billion in orders from regional and global investors and was priced at a profit rate of 7.150 percent, reflecting strong market appetite.
Following this listing, Arada’s total outstanding Sukuk on Nasdaq Dubai now amount to US$1.5 billion across three transactions. The company’s Executive Vice Chairman, HRH Prince Khaled bin Alwaleed bin Talal Al Saud, marked the occasion by ringing the market-opening bell alongside Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market.
Prince Khaled said the listing highlighted international investor confidence in Arada, pointing to the company’s expansion into new markets and record performance in sales and deliveries. He described the global demand for the Sukuk as a sign of Arada’s status as one of the region’s fastest-growing master developers.
Ali said Arada’s return to Nasdaq Dubai reaffirmed the exchange’s role as a leading hub for Sukuk and Islamic finance. He added that the strong investor response broadened opportunities for global capital while supporting the growth of UAE corporates.
The listing supports Arada’s wider expansion strategy and adds to the depth of Dubai’s debt markets. Nasdaq Dubai now hosts US$100.6 billion in Sukuk listings, with total debt securities on the exchange exceeding US$141.6 billion.
News Source: Emirates News Agency
