Dubai’s premier real estate developer, Binghatti, has revealed the highly successful issuance of a sukuk. This sukuk tap is connected to the developer’s initial February 2027 USD 300 million sukuk, which was previously listed on the London Stock Exchange (ISM) and Nasdaq Dubai, and was more than 200 percent oversubscribed. The latest tap has increased Binghatti’s total sukuk issuance to $500 million. The tap attracted unprecedented demand from both local and international investors, achieving an impressive oversubscription of about 4.2 times. The consistent high demand and oversubscription levels of Binghatti’s sukuk reflect the developer’s robust market standing and strong global investor confidence in the Binghatti brand. The intense demand led to a reduction in price of approximately 20 basis points, attributable to the strong demand from both regional and international investors. The demand was evenly split between regional and global interests, with nearly 40 percent coming from international investors, emphasizing the global appeal and trust in Binghatti’s financial instruments. Binghatti has pioneered collaborations with globally recognized brands such as Bugatti, Mercedes-Benz, and the luxury jewelry and watch brand Jacob&Co. in the real estate sector. This strategic initiative has sparked significant market interest, showcasing Binghatti’s innovative approach to property development. Binghatti’s current portfolio is valued at over Dh40 billion, reinforcing its position as a market leader. “We are delighted with the outstanding response to our sukuk tap, which underscores the enduring confidence and trust that both regional and global investors have in Binghatti. The oversubscription and favorable pricing are indicative of our strong market position and the strength of our brand. We are dedicated to delivering value to all our stakeholders and driving growth in the real estate sector,” stated Muhammad BinGhatti, chairman of Binghatti.