OMNIYAT, Dubai’s premier luxury real estate developer, has successfully debuted its inaugural green sukuk on NASDAQ Dubai, raising $500 million through a three-year Islamic offering. This marks OMNIYAT’s first venture into the international debt capital markets and underscores its commitment to long-term sustainability and financial growth.
The green sukuk saw overwhelming demand, with the order book oversubscribed 3.6 times, reaching $1.8 billion. Priced at a spread of 461.7 basis points over the three-year US Treasury yield, the sukuk carries a profit rate of 8.375%. The proceeds from this issuance will be directed towards sustainable development investments, in line with OMNIYAT’s Green Financing Framework, fully compliant with the ICMA Green Bond Principles (GBP) 2021.
Mahdi Amjad, Founder and Executive Chairman of OMNIYAT, expressed pride in the company’s achievement, stating that this milestone is a clear indication of their dedication to blending profitability with positive environmental impact. The successful listing of the green sukuk on NASDAQ Dubai provides OMNIYAT with enhanced visibility and market access to global investors. 
This issuance follows OMNIYAT’s ‘BB-‘ long-term credit rating from S&P Global and Fitch Ratings, both assigning a stable outlook to the company. The real estate giant continues to solidify its leadership in the ultra-luxury market, with key developments in prime locations like Palm Jumeirah and Business Bay.
