Nasdaq Dubai has welcomed the listing of a US$450 million Sukuk issued by Arada Developments LLC (Arada), a prominent UAE-based master developer.
The Sukuk was issued under Arada Sukuk 2 Limited’s US$1 billion Trust Certificate Issuance Programme and is set to mature in 2030.
The offering was more than four times oversubscribed, attracting orders exceeding US$2 billion from both regional and international investors. It was priced at a profit rate of 7.150 per cent, underscoring strong investor interest.
This listing further strengthens Arada’s established presence in the debt capital markets. Following the admission, Arada’s total outstanding Sukuk on Nasdaq Dubai now stands at US$1.5 billion across three separate issuances.
HRH Prince Khaled bin Alwaleed bin Talal Al Saud, Executive Vice Chairman of Arada, rang the market-opening bell at Nasdaq Dubai to mark the listing, in the presence of Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM).
Prince Khaled commented, “We are thrilled to return to Nasdaq Dubai with our third Sukuk listing, which demonstrates growing international investor confidence in Arada. Since our previous issuance, we have expanded into two new markets and achieved record results in launches, sales, and deliveries. This performance has driven strong global demand for our Sukuk programme and cements our position as one of the fastest-growing master developers in the region.”
Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market, said, “Arada’s return highlights the depth and diversity of our Sukuk market. Strong investor demand reflects confidence in issuers and broadens opportunities for our global investors. As the region’s international exchange, we are committed to connecting issuers with global capital and supporting the growth of leading UAE corporates, further reinforcing Dubai’s standing as a premier Islamic finance hub.”
The listing supports Arada’s strategic growth plans, providing the company with capital to seize expansion opportunities both within the UAE and in international markets.
