Abu Dhabi - Mubasher: Aldar Investment Properties (AIP), a subsidiary of Aldar Properties, has raised $290 million through taps on its green sukuks maturing in 2034 and 2035.
The offering was 2.8x oversubscribed, drawing $830 million in orders, according to a press release.
Regional investors accounted for 52% of allocations, while international investors represented 48%.
The 2034 sukuk tap was priced at a 4.89% yield with a spread of 87 basis points over US Treasuries, whereas the 2035 sukuk tap yielded 4.95% at the same spread.
Proceeds will be used under Aldar’s green finance framework, including refinancing sustainability-accredited assets.
With these two issuances, Aldar posted its tightest-ever public debt spreads and the tightest spread among Middle Eastern developers.
Faisal Falaknaz, Chief Financial and Sustainability Officer at Aldar Properties, commented: "By strengthening liquidity on a countercyclical basis, we are ensuring the flexibility to pursue growth while remaining resilient through cycles and committed to our sustainability agenda.”
ADIB, Emirates NBD Capital, FAB, JP Morgan, and Standard Chartered acted as joint lead managers and bookrunners.
To date, Aldar has invested over AED 150 million in retrofitting 69 properties to boost energy efficiency and cut emissions, supporting its Net Zero targets.
The ADX-listed company holds nearly AED 30 billion in liquidity, following a series of capital-raising moves.
In the first half (H1) of 2025, Aldar posted an annual hike of 24% in net profits after tax to AED 4.10 billion, versus AED 3.32 billion.
