Dubai Real Estate Market Review 13-Jun-2024
Abou Eid Real Estate completed the Dhs70 million Celia Residence in Dubai Studio City seven months early and sold all units of its second project. Arada Developments LLC issued a $400 million sukuk.
Arada returns to global debt markets
Arada Developments LLC issued a $400 million sukuk under its $1 billion sukuk program, listed on the London Stock Exchange and Nasdaq Dubai. The five-year issuance was priced at par with an 8% coupon. Strong investor demand led to a $1.45 billion order book, 3.5 times oversubscribed. Proceeds will support existing fun…
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