Nasdaq Dubai, the region’s leading international financial exchange, has announced the listing of a USD 500 million sukuk issued by Binghatti Holding, a prominent Dubai-based real estate developer.
The sukuk, part of Binghatti’s USD 1.5 billion Trust Certificate Issuance Programme, will mature in 2030. The issuance saw strong market appetite, being oversubscribed five times and drawing more than USD 2.5 billion in orders from regional and global investors. This demand enabled pricing at a profit rate of 8.125%, tightening significantly from initial guidance.
To commemorate the listing, Muhammad BinGhatti, Chairman of Binghatti Holding, rang the market opening bell at Nasdaq Dubai, joined by Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM). The sukuk are also listed on the London Stock Exchange.
Muhammad BinGhatti remarked: “The successful listing of our USD 500 million Sukuk on Nasdaq Dubai represents another major milestone in Binghatti’s growth story. The robust investor response highlights the confidence regional and international markets have in our financial position and long-term strategy.”
Hamed Ali, CEO of Nasdaq Dubai and DFM, commented: “We are delighted to welcome Binghatti’s latest sukuk listing, which reflects the continued strong global demand for Islamic finance instruments and reaffirms Dubai’s role as a thriving capital markets hub. Nasdaq Dubai remains committed to offering issuers access to a broad and diverse investor base.”
Following this transaction, Binghatti’s total sukuk listings on Nasdaq Dubai now stand at USD 1 billion, demonstrating the company’s trust in the exchange as a preferred listing venue.
