Dubai: Nasdaq Dubai welcomed the listing of a US$450 million Sukuk issued by Arada Developments LLC (Arada), a leading UAE-based master developer. Issued under Arada Sukuk 2 Limited's US$1 billion Trust Certificate Issuance Programme, the Sukuk matures in 2030.
According to Emirates News Agency, the offering was oversubscribed more than four times, attracting over US$2 billion in orders from regional and international investors. The issuance was priced at a profit rate of 7.150 percent, 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 amounts to US$1.5 billion across three transactions.
HRH 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 expressed delight in returning to Nasdaq Dubai for the listing of their third Sukuk, emphasizing the continued rise in international investor confidence in Arada. He highlighted the company's expansion into two new markets and its strong performance in launches, sales, and deliveries, which has driven significant global demand for their Sukuk programme.
Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), commented on Arada's return to Nasdaq Dubai, stating that it reaffirms the depth and diversity of the Sukuk market. The strong investor demand underscores issuer confidence and enhances the range of opportunities available to the global investor base. He reiterated the commitment of Nasdaq Dubai to connect issuers with global capital and support the growth journey of leading UAE corporates, while advancing Dubai's position as a premier hub for Islamic finance.
This listing supports Arada's strategic expansion plans, enabling the company to capitalise on growth opportunities within the UAE and across international markets. The total value of Sukuk listed on Nasdaq Dubai has reached US$100.6 billion, and the overall value of debt securities currently listed on the exchange stands at over US$141.6 billion.