Nasdaq Dubai has extended a warm welcome to Dar Al-Arkan Sukuk Company Ltd’s $600 million Sukuk listing. As a prominent Saudi Arabian publicly listed residential property developer, Dar Al-Arkan’s Sukuk issuance is part of the $2.5 billion Trust Certificate Issuance Programme, set to mature in 2029.
This listing marks the fourth time Dar Al-Arkan has successfully listed its Sukuk on Nasdaq Dubai, contributing to the overall growth of Dubai’s flourishing sukuk market, currently valued at an impressive $79 billion. Nasdaq Dubai alone accounts for $76 billion of the total sukuk market value.
Dar Al-Arkan CEO, Andy Raheja, expressed his elation over the success of the listing, attributing it to the unwavering support of the investors. The achievement reflects the trust placed in the company, reinforcing its position as a leading residential property developer in Saudi Arabia. With the backing of Nasdaq Dubai, Dar Al-Arkan remains confident in achieving its financial objectives and advancing in the financial landscape.
Earlier this year, Dar Al Arkan celebrated another milestone by successfully listing on the London Stock Exchange, where it garnered a value of SAR 2,250,000,000 ($600 million). This significant development expands Dar Al-Arkan’s reach, opening new growth opportunities and exposing the company to a broader market for potential transactions.
