OMNIYAT Holdings Ltd’s latest USD 600 million Sukuk, with a 5-year tenor
- Peak orderbook reached over USD 1.8 billion, representing more than 3.0x oversubscription
- Priced at 7.25% for a 5-year tenor, reflecting continued confidence of global and regional investors in OMNIYAT’s credit story
- Third Sukuk issuance in under 10 months, following USD 900 million raised in 2025
OMNIYAT Holdings Ltd (‘OMNIYAT’), the leading ultra-luxury real estate developer, has successfully priced a USD 600 million Sukuk with a 5-year tenor, its third successful capital markets transaction since its debut issuance in May 2025.
The Sukuk attracted strong demand from international and regional investors with the peak orderbook reaching over USD 1.8 billion, representing more than 3.0x oversubscription, and reflecting the strong investor appetite and growing confidence in the Company’s credit profile.
Earlier on Wednesday, OMNIYAT had released Initial Pricing Thought (IPT) of 7.625% and as a result of the overwhelming investor demand, the Company achieved a final pricing of 7.25%, an impressive yield compression of 37.5 basis points during the day. The Sukuk certificates will be listed and traded on the London Stock Exchange’s International Securities Market and Nasdaq Dubai in the coming days.
The senior unsecured Sukuk certificates, expected to be rated BB- by both S&P and Fitch, will be a part of OMNIYAT’s USD 2 billion Trust Certificate Issuance Program (Rated BB- by both S&P and Fitch).
The issuance builds on the Company’s established access to the international debt capital markets and reflects sustained investor confidence in its strategy, financial discipline, and the resilience of Dubai’s ultra-luxury real estate sector. This issuance, which extends OMNIYAT’s maturity profile to 2031, was issued as part of the Company’s ongoing funding strategy. Proceeds will be used to support OMNIYAT’s continued expansion of its land bank and development pipeline.
In May 2025, OMNIYAT raised USD 500 million through a 3-year Green Sukuk, marking its first entry into the international debt capital markets. In September 2025, OMNIYAT priced a second Sukuk of USD 400 million with a 3.5-year tenor. Through both issuances, OMNIYAT raised a total of USD 900 million in Sukuk financing in 2025.
Mahdi Amjad, OMNIYAT’s Founder & Executive Chairman, commented:
“The successful pricing of our third Sukuk and 3.0x oversubscription reflects sustained investor confidence in our credit profile and disciplined execution. The issuance further strengthens our liquidity position, enhancing our financial flexibility while aligning our capital structure with the strong revenue visibility across the business, underpinned by a substantial backlog and a clearly defined delivery schedule.”
“Investors remain focused on capital deployment and risk management, and we continue to prioritise prudent allocation, robust liquidity and consistent execution. Dubai’s ultra-luxury segment continues to demonstrate depth and resilience. We are delivering to meet that demand through a well-defined pipeline and a long-term strategic approach. We value the continued global investor confidence as we advance into our next phase of disciplined growth.”
In 2025, Dubai solidified its position as the global leader in ultra-luxury real estate, with 500 residential transactions exceeding USD 10 million. This represents a 15% year-on-year increase in volume and a 28% rise in total transaction value, reaching close to USD 9 billion. Over the last five years, OMNIYAT has emerged as a market leader for Dubai’s ultra-luxury apartments and offices valued at over USD 5 million, the core segment in which it operates, while also accessing the wider luxury segment through the BEYOND brand thus creating a well-diversified portfolio.
This transaction follows the publication of OMNIYAT’s audited consolidated results for the year ended 31 December 2025, where it recorded revenue of AED 4.1 billion and net profit of AED 1.2 billion, and a revenue backlog of AED 19.6 billion across three key segments including ultra-luxury residential and commercial and wider luxury residential, providing multi-year revenue visibility.
For this third Sukuk, Abu Dhabi Commercial Bank, Citi, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, J.P. Morgan, Mashreq, and Standard Chartered Bank acted as Joint Global Coordinators. Those banks along with Ajman Bank, Arab African International Bank, Arab Bank, Arqaam Capital, Bank ABC, Bank of Sharjah, RAKBANK and Sharjah Islamic Bank were appointed Joint Lead Managers and Joint Bookrunners for the issuance.
