Nasdaq Dubai has welcomed the listing of a $500 million debut Green Sukuk by Binghatti Holding Limited, one of Dubai’s fastest growing property developers.

Issued under Binghatti’s $1.5 billion Trust Certificate Issuance Programme, the Green Sukuk matures in 2029 and marks the company’s first ESG-linked issuance. The offering was oversubscribed 4.3 times, receiving over $2.1 billion in orders from regional and international investors. Reflecting that robust demand, the issuance was priced at a profit rate of 7.75%, having tightened from initial guidance of 8.125%.

The proceeds from the Sukuk will be allocated to a portfolio of qualified green projects that align with Binghatti’s sustainability framework. The issuance reinforces Binghatti’s alignment with the UAE Net Zero 2050 initiative and supports Dubai’s strategy to advance sustainable finance as a key pillar of its economic growth.

To commemorate the listing, Ahmed BinGhatti and Katralnada BinGhatti, Vice Chairman and CEO of Binghatti Holding Limited, respectively, rang the market-opening bell at Nasdaq Dubai in the presence of Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), and senior executives from both organisations. – TradeArabia News Service