UAE– Mubasher: Dubai’s leading ultra-luxury real estate developer OMNIYAT has priced its inaugural green Sukuk issuance, raising $500 million, according to a press release.
The three-year Islamic offering marks the group’s entry into the international debt capital markets and aligns with its commitment to long-term financial strength and sustainable development.
Meanwhile, the Sukuk will be listed and traded on Nasdaq Dubai and the London Stock Exchange’s International Securities Market (ISM).
The issuance witnessed strong demand from global and regional investors, with the order book oversubscribed 3.6x times, reaching $1.80 billion.
OMNIYAT will use the proceeds from the offering to primarily finance investments in sustainable development in line with its Green Financing Framework.
Mahdi Amjad, Founder and Executive Chairman at OMNIYAT, commented: “Our debut into the international debt capital markets with a green Sukuk is a major milestone for OMNIYAT. It underscores our commitment to sustainability, prudent capital management, and delivering long-term value to our stakeholders.”
“As we look to the future, sustainability sits at the core of our development philosophy. This green financing instrument aligns with this vision by supporting high-performance, environmentally efficient projects across our portfolio,” Amjad added.
Abu Dhabi Commercial Bank (ADCB), Citi, Dubai Islamic Bank (DIB), Emirates NBD Capital, J.P. Morgan, Mashreq, and Standard Chartered Bank acted as joint global coordinators.
Furthermore, Ajman Bank, Bank of Sharjah, Commercial Bank of Dubai (CBD), First Abu Dhabi Bank (FAB), Kamco Invest, RAKBANK, Sharjah Islamic, and Warba Bank acted as joint lead managers and bookrunners for the issuance.
In June 2024, OMNIYAT targeted AED 100 billion total group portfolio over five years and committed AED 50 billion in portfolio value for new ventures across diversified real estate sectors.
