Dubai International Financial Centre (DIFC), the premier global financial hub in the Middle East, Africa, and South Asia (MEASA) region, has announced the complete redemption and timely repayment of a $700 million sukuk. The sukuk was issued by DIFC Investments to support the expansion of the Centre, including the development of real estate infrastructure and the creation of new retail attractions like Gate Avenue. DIFC has adhered to prudent spending across all its projects and new developments, enhancing and diversifying its revenue streams, and optimizing the use of financial instruments. These financial strategies have lowered borrowing costs, reduced refinancing risks, focused on cash generation from core activities, and ensured financial stability in the medium and long term.
Essa Kazim, Governor of DIFC, stated: “DIFC has successfully repaid its 2014 sukuk on schedule, demonstrating our financial robustness. Over the past decade, we have invested in top-tier commercial infrastructure, which has solidified DIFC's position as the region’s foremost center for business and finance. We remain committed to expanding our real estate offerings to meet the high demand from companies seeking to establish or grow their presence in the city.”
Source link: https://www.khaleejtimes.com
