Binghatti’s $500m Sukuk listed on Nasdaq Dubai

Nasdaq Dubai, the region’s international financial exchange, on Tuesday welcomed the listing of a $500 million Sukuk by Binghatti Holding, a leading Dubai-based property developer.

Issued under Binghatti’s $1.5 billion Trust Certificate Issuance Programme, the Sukuk matures in 2030 and was oversubscribed five times, attracting more than $2.5 billion in orders from regional and international investors. Reflecting this strong demand, the issuance was priced at a profit rate of 8.125 per cent, significantly tightening from initial guidance.

To mark the occasion, Muhammad BinGhatti, Chairman of Binghatti Holding, rang the market opening bell at Nasdaq Dubai in the presence of Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM). The sukuk are also listed on the London Stock Exchange.

Muhammad BinGhatti said: “The successful listing of our USD 500 million Sukuk on Nasdaq Dubai marks another important milestone in Binghatti’s growth journey. The strong demand for our latest sukuk underscores the confidence that regional and international investors place in our financial strength and vision.”

Hamed Ali, CEO of Nasdaq Dubai and DFM, said: “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. At Nasdaq Dubai, we remain committed to providing the issuers with a platform to connect with a diverse investor base.”

With this listing, Binghatti’s total Sukuk listings on Nasdaq Dubai have reached $1 billion, underscoring the company’s confidence in the exchange.

Nasdaq Dubai continues to strengthen its role as a global hub for Islamic finance, with total Sukuk listings amounting to $98.6 billion, across 108 listings, reaffirming its position as one of the world’s leading venues for Sukuk.

WAM