Aldar Investment Properties has successfully raised $500m through a 10-year green sukuk (a sharia-compliant bond), with the issuance oversubscribed 7.2 times, attracting $3.6bn in orders. Strong investor interest saw 61% of allocations from regional investors and 39% from international investors.
A subsidiary of Aldar Properties PJSC, Aldar Investment Properties manages a $7.6bn portfolio of income-generating properties.
The sukuk carries a 5.25% coupon rate, competitively priced at 110 basis points over 10-year US Treasuries. Proceeds will support Aldar’s green finance framework, funding sustainability initiatives such as energy efficiency retrofits, with $41m already invested in upgrading 67 properties to reduce emissions.
Gulf Economist Staff Writer