Nasdaq Dubai, the international financial exchange in the Middle East, celebrates the successful listing of $600 million Sukuk issued by Dar Al-Arkan Sukuk Company Ltd, Saudi Arabia’s prominent publicly listed residential property developer. The latest listing marks Dar Al-Arkan’s fourth sukuk listing on Nasdaq Dubai, further reinforcing the exchange’s position as a leading platform for Islamic financial instruments.
Nasdaq Dubai, renowned for its robust and dynamic financial ecosystem, has proudly announced the listing of $600 million Sukuk issued by Dar Al-Arkan Sukuk Company Ltd, a key player in Saudi Arabia’s real estate sector. The listing marks Dar Al-Arkan’s fourth sukuk issuance on Nasdaq Dubai, underscoring the company’s continued commitment to diversifying its funding sources and tapping into the Islamic capital market for strategic financing solutions.
The sukuk, which was well-received by investors, offers a five-year tenor, maturing in 2028, and carries a competitive profit rate. This issuance reaffirms the market’s confidence in Dar Al-Arkan’s financial stability and strategic vision, solidifying the company’s position as one of the region’s most reputable and reliable sukuk issuers.
Hamed Ali, Chief Executive of Nasdaq Dubai, expressed his delight at welcoming Dar Al-Arkan’s latest sukuk listing, highlighting the exchange’s continuous efforts to facilitate and support Islamic finance activities. He emphasized that Nasdaq Dubai remains dedicated to providing an efficient and transparent platform for companies like Dar Al-Arkan to access global investors and raise capital in accordance with Sharia principles.
Dar Al-Arkan, a pioneer in the Saudi real estate market, has consistently harnessed the potential of Islamic finance to meet its funding requirements, leveraging the advantages offered by sukuk issuances. The company’s decision to list its sukuk on Nasdaq Dubai is a testament to the exchange’s stature as a preferred listing venue for Sharia-compliant instruments.
Yousef Bin Abdullah Al Shelash, Chairman of Dar Al-Arkan Real Estate Development Company, expressed his gratitude to Nasdaq Dubai for their unwavering support and commitment to facilitating a seamless listing process. He reiterated the significance of Nasdaq Dubai’s role in promoting the development of Islamic finance and its instrumental role in the growth of Dar Al-Arkan’s sukuk program.
Nasdaq Dubai’s dedication to upholding the highest standards of transparency and governance resonates with Dar Al-Arkan’s values, making it a natural choice for the company’s sukuk listings. The successful issuance and listing of the $600 million sukuk not only strengthen Dar Al-Arkan’s financial position but also showcase the trust and confidence global investors place in the company’s growth prospects.
Islamic finance has witnessed significant growth in recent years, and sukuk has emerged as a preferred avenue for companies to raise funds while adhering to Islamic principles. Nasdaq Dubai has been at the forefront of this trend, continuously supporting issuers in their sukuk programs and offering a well-regulated platform for investors seeking Sharia-compliant investment opportunities.
As Dar Al-Arkan’s sukuk finds a home on Nasdaq Dubai, it joins a thriving marketplace that attracts issuers and investors from around the world. Nasdaq Dubai’s extensive reach and connectivity in global financial markets provide Dar Al-Arkan with increased visibility and access to a diverse pool of international investors.
With the latest sukuk listing adding to Nasdaq Dubai’s growing portfolio of Islamic financial instruments, the exchange is set to further enhance its position as a leading center for Sharia-compliant finance in the region and beyond.
