Please wait...
GulfBase Live Support
Leave a message and our representative will contact you soon
- Bahrain All Share Index, Islamic Index close higher
- CBB Government Development Bond issue 39 oversubscribed by 308%
- Closing Bell: TASI closes in green at 11,764
- Qatar, Germany discuss mutual investments to strengthen ties
- Al Ahlia wins contract to build largest Merc-Benz facility in Kuwait
- Quarterly earnings announcements, tariff hold support stock market's rise: financial analyst
- Gold rebounds on dip buying despite US-China trade deal hopes
- China says US should revoke unilateral tariffs, denies talks
- Saudi Awwal Bank signs SR2 billion credit facility with Saudi Binladin Group
- World Bank forecasts MENA growth at 2.6% in 2025, 3.7% in 2026
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 |
|---|
25/04/2025
Saudi Awwal Bank (SAB), one of the leading banks in Saudi Arabia, has signed SR2 billion credit facility agreement with the Saudi Binladin Group, a subsidiary of Binladin International Holding Group,
Saudi Gazette
24/04/2025
The Dubai-based logistics firm Aramex has confirmed a new acting CEO after Othman AlJeda, the incumbent, resigned for personal reasons.
The change at the top comes just weeks after Abu Dhabi
Gulfnews
24/04/2025
The leading UAE banks have put up some sizable growth in their Q1-2025 results, with ADIB's net profit before tax totalling Dh1.9 billion - and that's from an impressive 18% gain year-on-year.
Gulfnews
24/04/2025
Salalah Port has received five modern dual-fuel methanol-powered container vessels from Maersk's fleet, marking a significant milestone in the port's infrastructure development and readiness to accom
Times of Oman
24/04/2025
QNB has launched a new campaign, aimed at rewarding customers to use their QNB Mastercard debit cards for everyday purchases.
The campaign, taking place from April 24-June 24, will offer win
Gulf Times
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia