Dubai: Nasdaq Dubai, the region’s international financial exchange, today welcomed the listing of a USD 500 million Sukuk by Binghatti Holding, a Dubai-based property developer.

According to Emirates News Agency, the Sukuk was issued under Binghatti’s USD 1.5 billion Trust Certificate Issuance Programme and is set to mature in 2030. The issuance attracted significant interest, being oversubscribed five times with over USD 2.5 billion in orders from regional and international investors. This strong demand allowed the Sukuk to be priced at a profitable rate of 8.125%, tightening from the initial guidance.

To commemorate the listing, Muhammad BinGhatti, Chairman of Binghatti Holding, rang the market opening bell at Nasdaq Dubai, accompanied by Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM). The Sukuk has also been listed on the London Stock Exchange. Muhammad BinGhatti expressed that this successful listing marks a significant milestone in Binghatti’s growth, highlighting investor confidence in the company’s financial strength and vision.

Hamed Ali remarked on the occasion, stating that Binghatti’s latest Sukuk listing underscores the global demand for Islamic finance instruments and emphasizes Dubai’s appeal as a capital markets hub. He also reiterated Nasdaq Dubai’s commitment to providing issuers with a platform to connect with a wide range of investors.

With this listing, Binghatti’s total Sukuk listings on Nasdaq Dubai have reached USD 1 billion, reflecting the company’s trust in the exchange. Nasdaq Dubai continues to affirm its status as a global hub for Islamic finance, with total Sukuk listings amounting to USD 98.6 billion across 108 listings, solidifying its position as a leading venue for Sukuk worldwide.