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02/04/2018 06:10 AST
Yousuf Bin Abdullah Al Shelash, Chairman of Dar Al-Arkan Real Estate Development Company, one of the largest Real Estate Developers in the Middle East, today rang the market opening bell to celebrate the listing of a $500 million (Dh1.836 billion) sukuk on Nasdaq Dubai.
The listing provides strong support for Dar Al-Arkan's financing and capital raising strategy to support the continuing growth of real estate activities across Saudi Arabia, including commercial real estate and integrated residential communities, as well as its international developments expansions.
The five-year Sukuk was more than two times oversubscribed and received significant interest from Middle Eastern, European and Asian investors. It brings Dar Al-Arkan's total Sukuk value listed on Nasdaq Dubai to $1.85 billion, following three other Sukuk listings by the company on the region's international exchange in 2014 and 2017.
The bell ceremony took place in the presence of Eisa Kazim, Governor of Dubai International Financial Centre (DIFC), Secretary-General of Dubai Islamic Economy Development Centre (DIEDC), and Chairman of Dubai Financial Market (DFM), and senior representatives of Dar Al-Arkan, as well as Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai and Hamed Ali, Chief Executive of Nasdaq Dubai.
Kazim said: "This listing by one of the Middle East's leading real estate development companies underlines the close Islamic capital markets ties between the UAE and Saudi Arabia. We will further strengthen our relationships with Sharia-compliant entities in GCC countries."
Gulf News
26/02/2018
Saudi Arabian real estate developer Dar Al Arkan met fixed income investors last week for a so-called non-deal roadshow, discussions that were not linked to any specific plan for a bond issue, source
Gulf News
15/01/2018
Dar Al Arkan, a leading real estate developer in the Middle East, has started work on its Dh800-million ($218 million) development - I Love Florence Tower - located on the Dubai Water Canal in the Bu
Trade Arabia
01/01/2018
Dar Al Arkan Real Estate Development, the biggest publicly traded real estate developer in Saudi Arabia, has received a nod from its board for plans to sell a 30 per cent stake in its property manage
The National
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| MASAR | 23.44 | -0.68 (-2.82 |
| JABALOMAR | 17.98 | -0.32 (-1.75 |
| EMAAREC | 12.77 | -0.19 (-1.47 |
| MCDC | 75.45 | -0.05 (-0.07 |
| CENOMICENTERS | 22.80 | 0.20 (0.88 |
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Gulf Bank announced its sponsorship and participation in the orientation event for new students organized by the American University of Kuwait, as part of its ongoing commitment to engage with new st
Kuwait Times
22/09/2025
Ooredoo Group has sold a minority 6% stake in Meeza- QSTP, Doha's leading managed information technology services and solutions provider, to certain funds managed by Fiera Capital (UK) at the current
Gulf Times
22/09/2025
Al Mahhar Holding Company, a public shareholding company providing specialised services and products to the energy and infrastructure sectors, has been included in the FTSE Russell Global Equity Inde
Gulf Times
22/09/2025
AD Ports Group has laid the foundation stone for the Noatum Ports Luanda Terminal at the Port of Luanda, marking the commencement of one of the most significant port modernisation and expansion proje
Trade Arabia
22/09/2025
Qatar Industrial Manufacturing Company (QIMC) has signed an agreement to purchase a 7% stake held by Qatar Oman Investment Company in Qatar Aluminum Extrusion Company (QALEX), bringing its total stak
Gulf Times
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