Binghatti Holding Successfully Lists $500 Million Sukuk On Nasdaq Dubai Amid Strong Demand

Nasdaq Dubai, a prominent financial exchange in the region, has announced the listing of a USD 500 million Sukuk by Binghatti Holding. This Dubai-based property developer issued the Sukuk under its USD 1.5 billion Trust Certificate Issuance Programme. The Sukuk, which will mature in 2030, was oversubscribed five times, drawing over USD 2.5 billion in orders from both regional and international investors.

The strong demand for this issuance resulted in a profit rate of 8.125%, which is significantly tighter than the initial guidance. Muhammad BinGhatti, Chairman of Binghatti Holding, celebrated this achievement by ringing the market opening bell at Nasdaq Dubai. Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), was also present at the event.

Muhammad BinGhatti expressed that the successful listing of their USD 500 million Sukuk on Nasdaq Dubai is a significant milestone in Binghatti’s growth journey. He noted that the strong demand highlights the confidence regional and international investors have in Binghatti's financial strength and vision.

Hamed Ali commented on the listing, stating: "We are pleased to welcome Binghatti’s latest Sukuk listing on Nasdaq Dubai, which highlights the sustained global demand for Islamic finance instruments and the strong appeal of Dubai as a capital markets hub." He emphasized Nasdaq Dubai's commitment to providing issuers with a platform to connect with diverse investors.

This new listing brings Binghatti’s total Sukuk listings on Nasdaq Dubai to USD 1 billion, reflecting their trust in this exchange. The Sukuk are also listed on the London Stock Exchange, further expanding their reach.

Nasdaq Dubai continues to solidify its position as a global hub for Islamic finance. With total Sukuk listings reaching USD 98.6 billion across 108 listings, it reaffirms its status as one of the world’s leading venues for these financial instruments.

With inputs from WAM