MENA) region this year, reflects the growing importance of Islamic finance within the real estate sector.The issuance was met with overwhelming investor demand, exceeding expectations by more than double. Subscriptions reached $621 million, reflecting strong confidence in Binghatti’s financial standing and future prospects. The sukuk was competitively

Dubai property developer, Binghatti, successfully debuted its Islamic bond, or sukuk, on the Nasdaq Dubai exchange on March 1, 2024. This marked a significant milestone for both Binghatti and the regional financial landscape.

The $300 million sukuk, the first real estate benchmark dollar-denominated issuance of its kind in the Middle East and North Africa (

iced at 9.625% with a three-year maturity date, offering investors an attractive return.

This successful listing strengthens Binghatti’s financial flexibility, providing them with a new avenue for raising capital to support their ongoing projects and expansion plans. Moreover, it paves the way for future issuances by the company, solidifying their position as a key player in the Dubai real estate market.

For Nasdaq Dubai, Binghatti’s sukuk listing reinforces the exchange’s role as a leading platform for innovative financial instruments within the region. It contributes to the exchange’s growing portfolio of listed debt securities, further solidifying its position as a premier venue for both regional and international investors. The listing also underscores Dubai’s commitment to developing its Islamic finance sector, positioning the emirate as a global hub for Sharia-compliant financial products.

Industry experts view Binghatti’s sukuk issuance as a positive development for the Dubai real estate market. It demonstrates the continued investor appetite for Sharia-compliant investment opportunities, particularly within the dynamic Dubai property sector. The success of this issuance is expected to encourage other real estate developers to explore sukuk as a viable financing option, offering them access to a wider pool of investors and potentially reducing their reliance on traditional bank loans.

Binghatti’s debut sukuk on Nasdaq Dubai is a win-win for both the company and the regional financial market. It provides Binghatti with a new avenue for financing its growth strategies, while solidifying Dubai’s position as a global leader in Islamic finance and a hub for innovative financial instruments.