Binghatti Holding, one of the UAE’s fastest-growing real estate developers, has successfully priced a long five-year $500 million benchmark sukuk under its $1.5 billion Trust Certificate Issuance Programme, in a transaction that was 4.4 times oversubscribed.
Aldar, a leading developer in the region, has reported a nine-month net profit before tax of AED6.8 billion ($1.85 billion), up 43% year-on-year (YoY), while net profit after tax rose 30% YoY to AED6 billion ($1.633 billion).
