Dubai’s OMNIYAT has successfully raised $500 million in its inaugural green sukuk, marking a significant milestone in the company’s commitment to sustainable development and introducing it to international debt capital markets. This impressive bond issuance reflects not only the strength of OMNIYAT’s brand but also the growing trend of environmentally responsible financing in the Middle East.
Strong Market Demand and Listing Plans
The three-year Islamic bond will be listed on both Nasdaq Dubai and the London Stock Exchange’s International Securities Market. The issuance saw extraordinary interest, with an oversubscription rate of 3.6 times, leading to total bids soaring to $1.8 billion. This overwhelming response highlights the strong investor appetite for green sukuk and signals confidence in OMNIYAT’s strategic direction.
Commitment to Sustainability
Funds raised through the green sukuk will be directed according to OMNIYAT’s Green Financing Framework, aimed at fostering environmentally sustainable development initiatives. This framework adheres to the International Capital Market Association’s Green Bond Principles (2021), ensuring both transparency and compliance with global standards for sustainable financing.
Insights from Leadership
“Our debut… underscores our commitment to sustainability, prudent capital management, and delivering long-term value to our stakeholders. The overwhelming investor interest validates confidence in our strategy, brand strength, and the fundamentals of the Dubai ultra-luxury real estate market,” stated Mahdi Amjad, Founder and Executive Chairman. “As we look to the future, sustainability sits at the core of our development philosophy. This green financing instrument aligns with this vision by supporting high-performance, environmentally efficient projects across our portfolio.”
Expertise Behind the Issuance
This sukuk issuance follows OMNIYAT’s recent credit ratings of ‘BB-’ with a stable outlook from both S&P Global and Fitch Ratings. Known for creating high-end projects in premier locations such as Palm Jumeirah and Business Bay, OMNIYAT continues to redefine luxury living in Dubai. Leading financial institutions, including Abu Dhabi Commercial Bank, Citi, Dubai Islamic Bank, Emirates NBD Capital, J.P. Morgan, Mashreq, and Standard Chartered, acted as joint global coordinators for the issuance, complemented by nine additional banks serving as joint lead managers and bookrunners.