CBRE advises FIVE Holdings on the launch of its $350mln Green Bond on NASDAQ Dubai

CBRE advises FIVE Holdings on the launch of its $350mln Green Bond on NASDAQ Dubai

Dubai – Global real estate firm CBRE acted as hospitality valuation advisors to FIVE Holdings (FIVE) on the launch of a USD350 million Green Bond on Nasdaq Dubai, one of the region’s largest green bond issuance focused towards hospitality and sustainability.

CBRE provided insight and detailed breakdown of the operations for FIVE’s hospitality portfolio, including FIVE Palm Jumeirah, FIVE Jumeirah Village and FIVE LUXE cash flows, as well as supporting with a comprehensive market study of relevance for each asset.

FIVE is a prominent luxury hospitality and development company based in Dubai. The issued Green Bond, featuring a coupon rate of 9.375% and with maturity set for 2028, marks FIVE’s first appearance on the region's esteemed international financial exchange. The listing of FIVE Holdings Green Bond enhances Nasdaq Dubai’s total value of ESG classified bonds and sukuk listings, reaching $26.7bn, and contributes to a total value of debt listed on the exchange totalling $118.34bn.

Kabir Mulchandani, Founder and Chairman of FIVE Holdings, says: "We delivered an unprecedented year of success in 2022, driven by the acceleration of our growth strategies which achieved a robust EBITDA margin (42%) and secured world-class sustainability milestones (‘A’ rating for ESG by ISS). FIVE understands that value creation