Nasdaq Dubai celebrated the listing of a $500 million green sukuk by OMNIYAT, a prominent real estate developer based in Dubai. The sukuk, with a three-year term maturing on May 6, 2028, was issued under a $1 billion Trust Certificate Issuance Program and offers a profit rate of 8.375 percent.
The proceeds from the sukuk will be directed towards the development of environmentally sustainable real estate projects within OMNIYAT’s portfolio, emphasizing energy efficiency, sustainable construction practices, and overall environmental performance.
Strong investor demand
The issuance garnered significant interest from both regional and international investors. Initial price expectations were around 8 percent, but the strong demand allowed for a tightening to the final rate, demonstrating investor confidence in OMNIYAT’s strategy and the strength of Dubai’s real estate market.
Mahdi Amjad, founder and executive chairman of OMNIYAT, marked the listing by ringing the market opening bell at Nasdaq Dubai. He was joined by Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), at the ceremony.
Mahdi Amjad commented: “Today’s bell ringing signifies more than just a financial achievement; it underscores OMNIYAT’s enduring commitment to sustainable growth and responsible investment. The successful launch of this green sukuk highlights our conviction that profitability and a positive environmental impact are mutually reinforcing. The oversubscription and subsequent successful issuance reflect the increasing demand for investment opportunities that foster both economic growth and sustainable outcomes.
We are delighted to list our green sukuk on Nasdaq Dubai, a world-class international exchange renowned for its exceptional visibility, transparency, and connectivity to global investors. We appreciate the invaluable support provided by the Nasdaq Dubai team throughout this process. This platform offers the ideal infrastructure to facilitate seamless market access and supports our ambition to strengthen engagement with both regional and international capital markets.”
ESG market growth
Hamed Ali, CEO of Nasdaq Dubai and DFM, stated: “OMNIYAT’s green sukuk listing is a valuable addition to Nasdaq Dubai’s ESG and Islamic finance landscape. It highlights the expanding role of the private sector in promoting sustainable finance and enhances the depth of the market. We are pleased to support OMNIYAT’s capital markets journey and anticipate further collaboration as they continue to broaden their impact.”
With this latest addition, the total value of ESG-linked debt instruments listed on Nasdaq Dubai has reached $29.6 billion, representing an increasing proportion of the exchange’s debt market. Green instruments constitute over 60 percent of ESG listings, indicating strong regional momentum towards sustainable capital markets.
