Arada's $400 million Sukuk has been listed on Nasdaq Dubai.

Nasdaq Dubai has approved the listing of a $400 million Sukuk by Arada Developments LLC, a UAE-based master developer. This is Arada’s second listing on Nasdaq Dubai and the first under their newly developed $1 billion Sukuk programme.

The five-year fixed-rate Sukuk received strong demand from regional and international investors, with the offering being oversubscribed by 3.5 times. Investors from Europe, the Middle East, and Asia, including institutional investors, fund managers, high-net-worth individuals (HNWIs), and banks, showed significant interest.

This listing reinforces Dubai's status as a premier global hub for Sukuk listings, with the total value of Sukuk issuances amounting to $93 billion. Local issuers contribute 44% of this value, while foreign issuers make up the remaining 56%. Nasdaq Dubai boasts a total value of $129 billion in listed bonds and Sukuk.

To celebrate the successful listing, Ahmed Alkhoshaibi, Group CEO of Arada, rang the bell at the market-opening ceremony at Nasdaq Dubai, alongside Hamed Ali, CEO of Nasdaq Dubai and DFM.

Alkhoshaibi stated, “We’re happy to return to Nasdaq Dubai to list our second Sukuk after the strong success and increased investor interest that followed the listing of our debut issuance a year ago. Over the past 12 months, we have delivered record results in terms of new project launches, sales, and deliveries, contributing towards significant worldwide interest in our new Sukuk programme.”

Hamed Ali added, “We welcome Arada’s successful listing on Nasdaq Dubai. The robust demand for this listing reflects the strong confidence that global investors have in the UAE's Islamic finance market and broader capital markets. This listing further solidifies Nasdaq Dubai's status as a leading market for Sukuk issuances.”