UAE - Mubasher: Dubai’s leading ultra-luxury real estate developer OMNIYAT priced a $600 million Sukuk with a five-year tenor, marking its third capital markets transaction since its May 2025 debut.
The issuance drew strong demand from regional and international investors, with the peak order book exceeding $1.80 billion, reflecting more than 3.0x oversubscription, according to a press release.
Part of OMNIYAT’s $2 billion Trust Certificate Issuance Program, this offering highlights growing investor confidence in OMNIYAT’s credit profile.
Mahdi Amjad, OMNIYAT’s Founder and Executive Chairman, commented: “The issuance further strengthens our liquidity position, enhancing our financial flexibility while aligning our capital structure with the strong revenue visibility across the business, underpinned by a substantial backlog and a clearly defined delivery schedule.”
“Investors remain focused on capital deployment and risk management, and we continue to prioritize prudent allocation, robust liquidity, and consistent execution. Dubai’s ultra-luxury segment continues to demonstrate depth and resilience,” he emphasized.
The proceeds will support OMNIYAT’s expansion of its land bank and development pipeline. Moreover, it will extend its debt maturity profile to 2031.
Amjad added:“We are delivering to meet that demand through a well-defined pipeline and a long-term strategic approach.”
Abu Dhabi Commercial Bank (ADCB), Citi, DIB, Emirates NBD Capital, FAB, J.P. Morgan, Mashreq, and Standard Chartered acted as joint global coordinators.
Additional joint lead managers and bookrunners included Ajman Bank, Arab African International Bank, Arab Bank, Arqaam Capital, Bank ABC, Bank of Sharjah, RAKBANK, and Sharjah Islamic Bank.
This follows two previous Sukuk issuances in 2025, totaling $900 million: a $500 million three-year green Sukuk in May and a $400 million 3.5-year Sukuk in September.
