Abu Dhabi-Mubasher: Abu Dhabi Islamic Bank (ADIB) successfully issued an AED 400 million sukuk for Mohebi Logistics, according to a recent statement.

ADIB has acted as sole book runner for the sukuk issue, the statement on Sunday said, adding that the issuance is compliant with Sharia principles and is the first sukuk transaction for a Dubai South-based entity.

The sukuk returns will be allocated for the construction and development of ‎Mohebi’s new warehouse and logistics center in Dubai South.

The facility will serve key multi-national corporations including Nestle. It will have a storage capacity of 180,000 pallets and will be spread over 206,000m².