OMNIYAT raises a total of USD 900 million in 2025 through Sukuk Financing

OMNIYAT, Dubai’s leading ultra-luxury real estate developer, has successfully priced a USD 400 million 3.5-year Sukuk, marking its second issuance in less than six months. At significantly improved terms, the transaction highlights the strong investor confidence in the Company’s credit story and Dubai’s resilient luxury real estate sector. The Sukuk will be listed and traded on the London Stock Exchange’s International Securities Market and Nasdaq Dubai in the coming days.

The Sukuk attracted strong demand from international as well as regional investors, with the orderbook peaking above USD 1 billion and closing at more than USD 800 million, over twice the issue size. The profit rate of 7.25% represents a tightening of 112.5 basis points versus OMNIYAT’s Sukuk transaction earlier in the year, reflecting strong investor appetite and growing confidence in the Company’s credit profile.

The Company executed the deal on an accelerated timeline and without pre-marketing, further underscoring the strength of OMNIYAT’s investor relationships and reputation in the market.

This new issuance extends OMNIYAT’s debt maturity profile beyond its outstanding 2028 Sukuk, reinforcing the Company’s focus on prudent financial management and positioning it well for strong future growth.

In May, OMNIYAT raised a USD 500 million, 3-year green Sukuk offering, which represented the Company’s entry into the international debt capital markets. Together with this new Sukuk issuance the Company has raised USD 900 million in 2025.

Mahdi Amjad, Founder & Executive Chairman at OMNIYAT, commented: “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. The strong demand and improved pricing reflects the market’s recognition of our robust development programme 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 USD 2 billion Trust Certificate Issuance Programme.

The deal follows strong strategic and operational momentum this year. In June, OMNIYAT launched Lumena, a 48-storey ultra-luxury commercial tower located in the Burj Khalifa District, which subsequently sold out with a total transaction value of AED 3.4 billion, the highest achieved to date in Business Bay. That same month, the company announced the acquisition of Marasi Bay Island, further expanding its master-planned waterfront ecosystem anchored by The Lana and VELA Viento.

Abu Dhabi Commercial Bank, Dubai Islamic Bank, Emirates NBD Capital, JP Morgan, Mashreq and Standard Chartered Bank acted as Joint Global Coordinators. Those banks along with Arab African International Bank and Commercial Bank of Dubai have been appointed Joint Lead Managers and Joint Bookrunners for the issuance.