Best Islamic real-estate deal – Middle East: Aldar Investment Properties’ $500 million green sukuk

Issuer: Aldar Investment Properties Sukuk Limited

Issuer: Aldar Investment Properties Sukuk Limited

Obligor: Aldar Investment Properties

Size: $500 million

Structure: Sukuk al-wakala/murabaha

Tenor: 10 years

Banks: HSBC and Standard Chartered (joint global coordinators and green structurers); Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank and Mashreq Bank (joint lead managers and joint bookrunners)

Date: May 2023

Amid growing issuance of green sukuk across the Middle East, there are certain transactions that stand out. Last year, one such deal was the debut in the format from the UAE real-estate developer Aldar Investment Properties.

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