Binghatti, Dubai’s leading real estate developer, has announced a highly successful sukuk. The sukuk tap was related to the developer’s debut February 2027 USD 300 million sukuk issuance, listed earlier this year on the London Stock Exchange (ISM) and Nasdaq Dubai and was more than 200 percent oversubscribed. The recent tap increases Binghatti’s total sukuk deal size to $500 million. The recent tap saw record-breaking demand from both regional and international investors, with approximately 4.2x oversubscription.
The high demand for Binghatti’s sukuk resulted in a price reduction of about 20 basis points, which was attributed to strong demand from both regional and international investors. The overall book saw an impressive split between regional and global demand, with international investors accounting for nearly 40% of the interest, highlighting Binghatti’s global appeal and trustworthiness.
Binghatti has pioneered collaborations with globally renowned brands such as Bugatti and Mercedes-Benz, as well as the high-end jewelry and horology brand Jacob&Co. This strategic move has sparked market interest, emphasizing Binghatti’s innovative approach to property development. Binghatti’s current portfolio value exceeds Dh40 billion, solidifying the brand’s position as a market leader.
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