Arada raises $450m in oversubscribed sukuk issuance
The RegS Sukuk, priced with a fixed coupon of 7.150 per cent, drew peak orders exceeding $2bn, excluding joint lead managers.
The transaction priced 47.5 to 60 basis points tighter than initial guidance of 7.625 to 7.750 per cent, landing at a spread of 317 bps over US Treasuries.
The paper is rated BB- by Fitch and B1 by Moody's and has been listed on both the London Stock Exchange and Nasdaq Dubai.
Proceeds from the issuance will partly fund a tender offer of up to $100m for Arada's outstanding 2027 Sukuk, with the remainder earmarked for general corporate purposes.
Arada sukuk attracts interest for investors in Europe, Middle East and Asia
Prince Khaled bin Alwaleed bin Talal, executive VC of Arada, said the strong investor response was a vote of confidence in the company's performance and future prospects. 'Our latest successful return to the global markets reflects once again the trust being placed by regional and international investors in Arada's track record, robust financial position and growth prospects,' he said.
The sukuk attracted broad investor interest across Europe, the Middle East and Asia, with participation from banks, private banks, asset managers, hedge funds and other institutional investors.
Joint global coordinators for the transaction were Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, Mashreq and Standard Chartered. Joint Lead Managers and Bookrunners included Arab Bank, Arqaam Capital, Bank ABC, RAK Bank, Sharjah Islamic Bank and Warba Bank.
Arada, which launched operations in 2017, has delivered over 10,000 units to date and sold more than 17,000 homes valued at Dhs29bn.
Its project pipeline spans the UAE and Australia, with a total value exceeding Dhs90bn.
Read:
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
6 hours ago
- Khaleej Times
NRIs in UAE: How to file Income Tax Return online, complete step-by-step guide
Do you live in the UAE and earn income in India? Here's some good news, the deadline for filing your Income Tax Return (ITR) has been extended to September 15, 2025. The extension aims to give taxpayers more time to ensure accurate filing and full compliance with tax regulations. Non-Resident Indians most commonly file for ITR-2, of all the types. Below is a step-by-step guide on how you can file your ITR online. This process begins after you've completed the pre-filing stage, where you're required to enter all relevant income and tax-related information. 1. Log in to the e-Filing portal Visit the official e-Filing portal and log in using your PAN (as User ID), password, and captcha code. 2. Begin the Filing Process Once logged in, go to your dashboard and navigate to: e-File > Income Tax Returns > File Income Tax Return If your PAN is not linked with Aadhaar, a warning message will pop up indicating that your PAN is inoperative. You can either click 'Link Now' to link it immediately or proceed (not recommended). 3. Choose the assessment year Select Assessment Year 2024–25 and click 'Continue'. 4. Select mode of filing Choose 'Online' as your preferred mode and proceed. If you've started a return previously, you'll see the option to 'Resume Filing'. To discard the existing draft and begin anew, click 'Start New Filing'. 5. Specify your filing status Choose the category that applies to you: Individual, HUF, or Others. Click 'Continue'. 6. Select the appropriate ITR form You have two options: Help me decide: Let the system guide you based on your responses to simple questions. I know which ITR form I need: If you're sure, select the correct form from the dropdown and proceed. If you're unsure about which ITR form, schedules, or deductions apply to you, the guided option is the safer choice. 7. Review required documents Before proceeding, you'll see a checklist of documents needed. Click 'Let's Get Started' to continue. 8. Review and edit pre-filled data Your personal details and other information may already be pre-filled from previous records. Review this carefully, make any necessary changes, and complete the additional fields. Click 'Confirm' after each section. 9. Enter income and deduction details Provide your income details from salary, interest, business/profession, etc., and claim applicable deductions under various sections (e.g., 80C, 80D). After completing all sections, click 'Proceed'. 10. Tax Summary and Payment If tax is payable You will see a summary of your tax computation. You can either: Pay now Pay later: But this may attract interest or penalty and flag you as a defaulter. If no tax is payable or a refund is due If there is no tax liability or if you're eligible for a refund, click 'Preview Return' to proceed. 11. Make payment (if applicable) If you chose to 'Pay Now', a message will appear confirming redirection to the 'e-Pay Tax Service'. Click 'Continue', complete the payment, and return to the filing portal. 12. Return to filing dashboard After successful payment, click 'Return to Filing' to resume the ITR submission process. 13. Preview your return Click 'Preview Return' and review the full summary of your inputs. 14. Make declaration Enter your place of residence, tick the Declaration checkbox, and click Proceed to Preview. If you haven't used a Tax Return Preparer (TRP), leave those fields blank. 15. Final review and validation Go through your return one last time and click 'Proceed to Validation'. 16. Error check If errors are detected, you'll need to correct them before submission. If there are no errors, proceed to verification. 17. Verify your return On the 'Complete Your Verification' page, choose your preferred verification method and click 'Continue'. - e-Verification is the easiest, safest, and fastest method. If your PAN is still inoperative, you'll see a reminder to link it with Aadhaar. - If you choose 'e-Verify Later', ensure the return is verified within 30 days of filing, or it will be treated as invalid. 18. Complete e-Verification You can e-Verify using options such as: All done! Once verification is complete:
Arabian Business
8 hours ago
- Arabian Business
Abu Dhabi's IHC to invest $500mn in reinsurance premiums with RIQ
RIQ, the AI-native reinsurance platform launched earlier this year by IHC, in partnership with BlackRock and Lunate, has entered into a preferred reinsurance partnership with IHC, anchored by a targeted allocation of over US$500 million in risk coverage within the coming decade. The partnership represents IHC's commitment to pioneering intelligent capital deployment and transformative risk transfer solutions. By leveraging RIQ's AI-powered infrastructure, IHC aims to enhance the resilience and operational agility of its group companies. The collaboration also aligns with Abu Dhabi's ambition to lead globally in structured reinsurance and financial innovation. 'A strategic investment' Syed Basar Shueb, CEO of IHC, called it 'a strategic investment in the future of resilient infrastructure and industrial agility'. 'This partnership reflects IHC's conviction in the transformative power of intelligent capital and data-driven risk transfer. By aligning with RIQ, we are catalysing the next chapter of Abu Dhabi's evolution as a global center for reinsurance innovation. This is not just a financial commitment, it is a strategic investment in the future of resilient infrastructure and industrial agility,' Shueb said. Headquartered in Abu Dhabi Global Market (ADGM), RIQ will offer a full suite of reinsurance solutions, working closely with IHC and its portfolio companies to structure capital-efficient coverage across complex Specialty and Property and Casualty (P&C) risk classes. Leveraging advanced data modelling and AI-augmented underwriting, the platform is purpose-built to meet the demands of a rapidly evolving risk environment. Seeking regulatory approvals The company is currently in the process of getting regulatory approvals with the Financial Services Regulatory Authority (FSRA) of ADGM, as it moves toward formal authorisation as a reinsurer. Final preparations are also underway for the execution of the reinsurance transaction between IHC and RIQ, which remains subject to regulatory clearance. This transaction will mark a foundational step in RIQ's operational rollout. Mark Wilson, CEO of RIQ, added: 'We are proud to collaborate with IHC in this milestone partnership. RIQ's platform is engineered to deliver intelligent risk solutions at pace, fusing advanced analytics, underwriting discipline, and strategic capital. This announcement marks a defining step in our mission to reshape global reinsurance from Abu Dhabi outward.' RIQ has promised more updates in the coming months, as it executes on its global buy-and-build strategy. With over US$1 billion in equity commitments from IHC and strategic partners BlackRock and Lunate, RIQ aims to ultimately write US$10 billion per year.
Khaleej Times
9 hours ago
- Khaleej Times
UAE: Want to become a finfluencer? Applications for financial literacy programme open
Registration is now open for the Youth Financial Advisors Programme, a four-month intensive training targeting UAE nationals aged 25-32 years old to become certified financial advisors with deep knowledge in financial literacy. Launched by the Federal Youth Authority in partnership with the Central Bank of UAE and Securities and Commodities Authority, the programme comes as financial literacy among UAE residents stands at just 30.7 per cent, significantly below other international players. "Promoting financial literacy among young people is a primary element of our national strategy," said Dr Sultan bin Saif Al Neyadi, UAE Minister of State for Youth Affairs, in a statement. "Enhancing participants' knowledge and capabilities is fundamental to ensure their ability to manage finances, laying foundations for a stable future." Recent studies indicate that 50 per cent of UAE residents spend more than they earn, while over 60 per cent are in debt, primarily due to credit card and personal loan expenses. Young Emiratis, in particular, are facing the brunt of it with males spending around Dh2,000 monthly and females Dh1,656 — significantly higher than their expatriate peers at Dh1,152 and Dh606, respectively. The Youth Financial Advisors Programme addresses these challenges through seven core modules, including financial literacy fundamentals, monetary economics, entrepreneurial finance, and investment strategies. Participants will complete 30+ hours of education over four months, featuring hands-on workshops, financial institution visits, and hackathons designed to inspire innovative solutions. Khaled Mohamed Balama, governor of the Central Bank of UAE, emphasised the initiative's importance, noting in a statement that 'the programme reflects ongoing commitment to train young Emirati professionals, enabling them to actively contribute to establishing a knowledge-based economy." Requirements and how to apply Eligibility requires UAE nationality, university degrees in business, finance, economics, or law, plus a minimum of one year of relevant experience. Candidates without specified degrees need three years of financial services experience. Strong communication skills and Arabic-English proficiency are mandatory. Upon completion, craduates will receive three credentials: a Federal Youth Authority certificate of completion, registration as a Financial Influencer by the SCA, and a Central Bank Financial Literacy Trainer certification. They'll then conduct volunteer training sessions 'to spread the message and build a national network of qualified financial consultants'. Applications are being accepted now through the Federal Youth Authority website, with selection based on academic qualifications, experience, and demonstrated commitment to community financial education.
