Sobha Realty lists 5-year Sukuk on Nasdaq Dubai

Sobha Realty lists 5-year Sukuk on Nasdaq Dubai

UAE-based real estate developer Sobha Realty has debuted a listing of $300 million Sukuk on Nasdaq Dubai on 19 July 2023. The Sukuk holds a five-year tenor and achieves significant milestones, including the first-of-kind call feature in the GCC sub-investment grade Sukuk market, according to a bourse disclosure. The Islamic issuance listing provides investors with an 8.75% annual profit rate that is payable semi-annually. Dubai endorses its position as a leading hub for regional and international debt listings, which have reached a total value of $117 billion. said: Menon added: Sobha has become the first corporate issuer from the region in a senior unsecured benchmark-sized format in 2023, and accordingly, the entity is paving the way for regional debut issuers. Meanwhile, Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), said: DFM’s official added: