By Sam Bridge
New listing brings Dar Al-Arkan's total sukuk value listed on Nasdaq Dubai to $2 billion
Nasdaq Dubai on Wednesday welcomed the listing of a $400 million sukuk by Dar Al-Arkan, the Saudi-based real estate development company.
According to a statement, the listing brings Dar Al-Arkan’s total sukuk value listed on Nasdaq Dubai to $2 billion, following the listing of a $600 million sukuk last October and listings of two sukuk of $500 million each in 2017 and 2018.
Dar Al-Arkan’s activities include residential, mixed use and commercial developments in Riyadh, Jeddah, Makkah and Madinah and other cities across in Saudi Arabia, as well as the I Love Florence Tower in Downtown Dubai.
Nasdaq said the company’s latest sukuk underlines Dubai’s expanding role as one of the largest global centres for sukuk listings by value with a current total of $66.4 billion.construction news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.