Dubai-based property developer Binghatti Holding has listed its first $500 million green sukuk on Nasdaq Dubai. This financial instrument has attracted significant attention, garnering over $2.1 billion in orders, an oversubscription rate of 4.3 times the initial offer. It offers a profit rate of 7.75%, having tightened from the initial guidance of 8.125%, which reflects strong market confidence.
This sukuk is part of a wider $1.5 billion Trust Certificate Issuance Programme and will fund a range of qualified green projects under Binghatti’s sustainability framework. The proceeds are aligned with the UAE’s sustainability and Net Zero 2050 targets, illustrating a growing regional emphasis on environmental, social and governance (ESG) criteria.
Katralnada Binghatti, CEO of Binghatti Holding, remarked on the milestone, highlighting it as a pivotal moment in the company’s sustainable growth trajectory. The substantial oversubscription, she noted, underscores the confidence investors have in Binghatti’s model and its commitment to environmentally responsible development.
Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market, noted the increasing investor appetite for ESG-focused instruments. He added that such listings reinforce Nasdaq Dubai’s role in connecting UAE issuers with international investors, further advancing the region’s sustainable finance objectives through a credible marketplace.
The listing elevates Binghatti’s total sukuk value on Nasdaq Dubai to $1.5 billion, with the exchange’s total outstanding debt listings surpassing $141 billion. This underscores Dubai’s standing as a key player in the Islamic and sustainable finance sectors.
Founded in 2008, Binghatti Holding has built a robust portfolio valued at over AED 80 billion, encompassing more than 80 projects. The company’s entry into the green sukuk space reinforces its role as a proactive participant in the transition to sustainable urban development.
