Dar Al-Arkan marks $500 mln sukuk listing on Nasdaq Dubai

01/04/2018 Argaam

 

Dar Al-Arkan on Sunday marked the listing of $500 million sukuk on Nasdaq Dubai, taking the company’s sukuk listings on the exchange to a total of $1.85 billion.

 

The five-year sukuk, which was listed on March 22, was more than two-times oversubscribed and received interest from Middle Eastern, European and Asian investors, Nasdaq Dubai said in a statement.

 

The listing, the fourth by the company, supports Dar Al-Arkan’s financing and capital raising strategy to support the growth of real estate activities across Saudi Arabia, it added.

 

Dar Al-Arkan’s assets in Saudi Arabia include a 37 million square meter land bank in Jeddah, Riyadh and Makkah.

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