Arada Secures $400 Million Sukuk Listing On Nasdaq Dubai, Underlining Strong Investor Confidence

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

The five-year fixed-rate Sukuk saw significant interest from regional and international investors. The offering was oversubscribed by 3.5 times, attracting a diverse group of investors from Europe, the Middle East, and Asia. Institutional investors, fund managers, high-net-worth individuals (HNWIs), and banks were among those who participated.

This listing strengthens Dubai's position as a leading global hub for Sukuk listings. The total value of Sukuk issuances now stands at $93 billion. Local issuers contribute 44% of this value, while foreign issuers account for the remaining 56%. Nasdaq Dubai's total value of listed bonds and Sukuk is $129 billion.

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

Alkhoshaibi expressed his satisfaction with the listing: "We’re pleased to be returning 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 again delivered record results in terms of new project launches, sales and deliveries, all of which have contributed towards the significant worldwide interest in our new Sukuk programme."

Confidence in UAE's Islamic Finance Market

Hamed Ali also commented on the successful listing: "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."

With inputs from WAM