Bank of Sharjah served as Joint Lead Manager and Bookrunner for Omniyat Holdings’ successful issuance of a US$600 million five-year Sukuk, working alongside a group of regional and international financial institutions.
The offering attracted strong investor interest, with the order book reaching US$1.8 billion, representing a threefold oversubscription. The high level of participation underlines strong regional and global confidence in Omniyat’s credit strength, the stability of Dubai’s real estate market, and the broader resilience of the UAE’s economy.
Originally launched as a benchmark-sized transaction, the strong demand enabled the issuer to tighten pricing by 37.5 basis points to 7.25% from the initial guidance, while increasing the size of the deal to US$600 million. Similar to its earlier issuances, 25% of the allocation was distributed to investors across the UK, Europe, and US offshore markets, demonstrating continued global investor appetite for Omniyat’s credit profile and the attractiveness of Dubai’s real estate sector.
Mohamed Khadiri, CEO of Bank of Sharjah, commented on the transaction, saying the bank was proud to support Omniyat throughout its capital markets journey. He noted that the third issuance reflects disciplined execution and effective market positioning, adding that the tighter pricing, larger deal size, and extended tenor highlight Omniyat’s strengthening credit profile and the bank’s expertise in debt capital markets.
Krishna Polepeddi, Acting Chief Treasury Officer at Bank of Sharjah, said the Sukuk represents Omniyat’s third issuance within nine months. He added that the outcome is particularly encouraging given the current geopolitical uncertainties, and emphasised that the bank remains committed to helping UAE corporates access diversified funding through well-structured and innovative capital market solutions.
