In a significant stride toward sustainability in the real estate and financial sectors, OMNIYAT, Dubai’s leading ultra-luxury developer, has successfully debuted its first green sukuk on Nasdaq Dubai, raising $500 million through a three-year Islamic issuance.
The issuance marks OMNIYAT’s entry into the international debt capital markets and aligns with its long-term strategy to blend luxury development with environmental responsibility. The green sukuk was priced at a profit rate of 8.375%, with a spread of 461.7 basis points over the comparable U.S. Treasury yield.
Oversubscribed Offering Reflects Strong Investor Confidence
Investor demand was robust, with the sukuk being oversubscribed 3.6 times, generating an order book of $1.8 billion. The strong appetite for OMNIYAT’s debut green issuance underscores the growing global demand for Shariah-compliant sustainable investment instruments.
“Today’s bell-ringing marks more than just a financial milestone—it signals OMNIYAT’s long-term commitment to sustainable growth and responsible investment,” said Mahdi Amjad, Founder and Executive Chairman of OMNIYAT.
He added that the overwhelming response to the sukuk reinforces the market’s confidence in investment strategies that drive both profitability and environmental impact.
Financing Sustainable Development
Proceeds from the sukuk will be deployed in accordance with OMNIYAT’s Green Financing Framework, which adheres to the International Capital Market Association’s (ICMA) Green Bond Principles 2021. These funds will support projects focused on energy efficiency, renewable energy, sustainable building practices, and other environmental goals.
OMNIYAT emphasized that the listing on Nasdaq Dubai—a globally recognized platform for Islamic finance—offers increased visibility and investor transparency, enhancing its engagement with both regional and international capital markets.
Financial Strength and Stable Outlook
The green sukuk follows OMNIYAT’s recent BB– long-term credit rating from both S&P Global Ratings and Fitch Ratings, each assigning a stable outlook. The rating reflects the company’s prudent financial management and its strong position in Dubai’s premium property segment.
With flagship developments in iconic districts such as Palm Jumeirah and Business Bay, OMNIYAT continues to attract ultra-high-net-worth individuals from across the globe. The company's strategic positioning and emphasis on bespoke luxury design have helped cement its leadership in the ultra-luxury real estate market.
“We are proud to list our green sukuk on Nasdaq Dubai, a world-class exchange that offers unmatched transparency and global reach,” Amjad said.
A Regional Benchmark for Green Finance
OMNIYAT’s successful issuance positions it as one of the first real estate developers in the region to harness the Islamic finance ecosystem for green funding, setting a benchmark for others in the sector.
As Dubai strengthens its commitment to becoming a regional hub for sustainable finance, OMNIYAT’s move serves as a strategic example of private sector leadership, combining high-end development with long-term environmental stewardship.
