OMNIYAT lists 3-year $500m green sukuk on Nasdaq Dubai

OMNIYAT, Dubai’s leading ultra-luxury real estate developer, has successfully listed its inaugural green sukuk on NASDAQ Dubai.

OMNIYAT raised $500 million through a three-year Islamic offering. This transaction marks its entry into the international debt capital markets and reaffirms its commitment to long-term financial strength and sustainable development.

The green sukuk was met with strong demand from international and regional investors, with the order book oversubscribed 3.6 times, reaching $1.8 billion. The green sukuk certificates were priced at a spread of 461.7 basis points over the three-year US Treasury yield and carry a profit rate of 8.375 per cent.

The proceeds from the issuance will be used in line with OMNIYAT’s Green Financing Framework to primarily finance investments in sustainable development. This framework is fully aligned with the ICMA Green Bond Principles (GBP) 2021, ensuring international best practice and investor transparency.

“Today’s bell-ringing marks more than just a financial milestone, it signals OMNIYAT’s long-term commitment to sustainable growth and responsible investment,” says Mahdi Amjad, Founder and Executive Chairman of OMNIYAT. “The successful launch of this green sukuk reflects our belief that profitability and positive environmental impact are intertwined. The oversubscription and subsequent successful issuance is a testament to the growing appetite for investment vehicles that drive both economic growth and sustainable outcomes.

“We are proud to list our green sukuk on NASDAQ Dubai, a world-class international exchange that offers unparalleled visibility, transparency, and connectivity to global investors. We thank the NASDAQ Dubai team for their invaluable support throughout this journey. This platform provides the ideal infrastructure to facilitate seamless market access and supports our ambition to deepen engagement with both regional and international capital markets.”

The issuance follows OMNIYAT’S BB– long-term credit rating assigned by S&P Global and a first-time Long-Term Issuer Default Rating (IDR) of BB– by Fitch Ratings, with both rating agencies assigning a stable outlook.

OMNIYAT’s business model, underpinned by strategic developments in prime locations such as Palm Jumeirah and Business Bay, has enabled them to capture consistent demand from ultra-high-net-worth international buyers and reinforce its leading position in the ultra-luxury real estate market in Dubai. 

– In association with OMNIYAT Group