Sharjah’s Arada raises $350m through sukuk and lists on London Stock Exchange – The National
- Date: 01-Jun-2022
- Source: The National
- Sector:Financial Markets
- Country:Middle East
Sharjah’s Arada raises $350m through sukuk and lists on London Stock Exchange – The National
Sharjah property developer Arada raised $350 million by issuing a five-year sukuk or Islamic bond.
The dollar-denominated sukuk is listed on the London Stock Exchange, and is the first real estate issuance from the Middle East and North Africa region in 2022, Arada said on Wednesday.
The issuance created strong demand from regional and international investors, with a subscription order of $720m, more than double the size of its offer.
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