Nasdaq Dubai has listed a $500 million Green Sukuk by Binghatti Holding Limited, marking the Dubai real estate developer’s first ESG-linked issuance.
The Sukuk was issued under Binghatti’s $1.5 billion Trust Certificate Issuance Programme and will mature in 2029. The offering received orders exceeding $2.1 billion from regional and international investors, representing an oversubscription of 4.3 times.
The issuance was priced at a profit rate of 7.75 percent, down from the guidance of 8.125 percent.
Binghatti Green Sukuk oversubscribed 4.3 times with $2.1 billion orders
Binghatti will allocate the proceeds to a portfolio of green projects that align with its sustainability framework. The issuance supports the UAE Net Zero 2050 initiative and Dubai’s strategy to advance sustainable finance.
Ahmed BinGhatti and Katralnada BinGhatti, Vice Chairman and CEO of Binghatti Holding Limited respectively, rang the market-opening bell at Nasdaq Dubai. Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), and executives from both organisations attended the ceremony.
“Our debut Green Sukuk marks a significant milestone in Binghatti’s journey toward sustainable and responsible growth. The Sukuk’s strong oversubscription is a clear affirmation of the success of our unique vertically integrated business model and the confidence that both regional and international investors place in our vision and performance. The success of the issue reinforces our commitment to advancing environmentally conscious development across our portfolio and contributing meaningfully to the UAE’s Net Zero 2050 goals, while supporting Dubai’s position as a global hub for sustainable finance,” Katralnada BinGhatti, Chief Executive Officer of Binghatti Holding said in a statement.
Binghatti Holding issues first green sukuk to support UAE Net Zero 2050 goals
“We are pleased to welcome Binghatti’s inaugural Green Sukuk on Nasdaq Dubai. The transaction reflects the growing investor appetite for ESG-focused instruments and the strength of Dubai’s capital markets as a global hub for Islamic and sustainable finance. Listings of this calibre demonstrate Nasdaq Dubai’s ability to connect leading UAE issuers with international investors, diversify funding opportunities, and advance the UAE’s sustainable finance ambitions through a transparent and trusted marketplace,” Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM) added.
Binghatti’s total Sukuk value listed on Nasdaq Dubai has reached $1.5 billion with this listing.
The total value of debt listings on Nasdaq Dubai now exceeds $141 billion, positioning the exchange as one of the world’s venues for Islamic and sustainable finance instruments.
