Dubai – Mubasher: Emaar Properties has celebrated the listing of a $500 million Sukuk of a 10-year tenor on Nasdaq Dubai.
The Sukuk issuance is part of the company's $2 billion trust certificates issuance programme solely listed on Nasdaq Dubai, according to a press release on Tuesday.
The Sukuk has been priced at 3.7% yield and attracted strong demand with a total value of investors’ applications exceeding $3.3 billion.
The listing has raised the total value of Sukuk listings on Dubai capital markets to $78.04 billion, strengthening the emirate's position as one of the world’s largest Sukuk listing venues.
The Chairman of Emaar Properties, Jamal bin Theniyah, said: "The success of our latest Sukuk issuance demonstrates major investors’ confidence in both the Emaar Group and Dubai’s real estate market."
Meanwhile, the CEO of Nasdaq Dubai and Deputy CEO of DFM, Hamed Ali, remarked: "This listing provides further impetus to the Exchange’s prominent status as a world-class marketplace for listing of Sukuk and bonds in the MENA region."