UAE – Mubasher: Real estate developer OMNIYAT has by far secured a total of $900 million in 2025 through Sukuk offerings.
The developer recently priced a $400 million 3.5-year Sukuk, marking its second issuance in less than six months, according to a press release.
The Sukuk will be listed and traded on the London Stock Exchange’s (LSE) International Securities Market and Nasdaq Dubai in the coming days.
The offering attracted strong demand from international and regional investors, with the orderbook peaking above $1 billion and closing at more than $800 million, over twice the issue size.
Moreover, the profit rate of 7.25% represents a tightening of 112.5 basis points (bps) versus OMNIYAT’s Sukuk transaction earlier in 2025.
This new issuance extends OMNIYAT’s debt maturity profile beyond its outstanding 2028 Sukuk while reinforcing the company’s focus on prudent financial management and positioning it well for strong future growth.
In May 2025, OMNIYAT raised a $500 million three-year green Sukuk offering, which represented the company’s entry into the international debt capital markets.
Founder and Executive Chairman at OMNIYAT, Mahdi Amjad, said: “Issuing a second sukuk within just six months of our debut – and on even better terms – is a major step forward for OMNIYAT. It shows the depth of confidence that global investors have in our vision, our discipline, and in the continued strength of Dubai’s ultra-luxury real estate market.”
Amjad added: “The strong demand and improved pricing reflects the market’s recognition of our robust development program and growth trajectory, and allows us to continue delivering on our strategy.”
The Sukuk is rated 'BB-' with a stable outlook by both S&P and Fitch Ratings and was issued under OMNIYAT Sukuk 1 Limited’s $2 billion Trust Certificate Issuance Programme.
In June this year, OMNIYAT launched Lumena as a 48-storey ultra-luxury commercial tower located in the Burj Khalifa District, which subsequently sold out with a total transaction value of AED 3.40 billion that marked the highest achieved to date in Business Bay. The company also announced the acquisition of Marasi Bay Island in the same month of June 2025, further expanding its master-planned waterfront ecosystem anchored by The Lana and VELA Viento.
