Green Sukuk Listed on Nasdaq Dubai

OMNIYAT, a prominent Dubai-based ultra-luxury real estate developer, has successfully launched its first green sukuk on NASDAQ Dubai, raising $500 million through a three-year Islamic offering. This marks OMNIYAT's debut in the international debt capital markets and reinforces its dedication to financial stability and sustainable practices. The green sukuk saw strong investor interest, with the order book oversubscribed 3.6 times, reaching $1.8 billion. The certificates were priced at a spread of 461.7 basis points over the three-year US Treasury yield, with a profit rate of 8.375%.

The funds raised will be allocated according to OMNIYAT's Green Financing Framework, primarily supporting investments in sustainable development projects. This framework adheres to the ICMA Green Bond Principles (GBP) 2021, ensuring adherence to international best practices and investor transparency. Mahdi Amjad, Founder and Executive Chairman of OMNIYAT, emphasized the significance of this milestone, highlighting the company's commitment to sustainable growth and responsible investment.

The successful issuance of the green sukuk reflects the increasing demand for investment vehicles that promote both economic growth and environmental sustainability. OMNIYAT chose to list on NASDAQ Dubai, a leading international exchange, for its global reach and transparency. The company's strategic developments in prime locations like Palm Jumeirah and Business Bay have allowed it to cater to ultra-high-net-worth international buyers, solidifying its position in the Dubai luxury real estate market.

The issuance follows OMNIYAT's BB– long-term credit rating from S&P Global and a BB– Long-Term Issuer Default Rating (IDR) from Fitch Ratings, both with a stable outlook. This further underscores OMNIYAT's financial strength and its commitment to long-term sustainability.