Finance & Capital Market

Teraciel Properties unveils new luxury mansion in Dubai Hills

Teraciel Properties, a boutique luxury real estate developer, has launched The Imperial in Hills Views, Dubai Hills, a one-of-a-kind mansion. 
 
The launch comes after much demand for world-class infrastructure projects that enhance the overall appeal and values of real estate in the UAE, said the developer.
 
Teraciel Properties will continue to expand its portfolio across the UAE. Dubai will see a focus on super-prime residential real estate, with the next projects coming up in Emirates Hills, Emerald Hills and Palm Jumeirah, it stated. 
 
Built to transcend fashion and trends, The Imperial marks the latest development by Teraciel Properties, which is  positioned to create landmark properties and communities that cater to the lifestyles of the most discerning clients, through couture real estate. 
 
As a bespoke and customer-centric developer, where artistry combines with thoughtful function and innovation, Teraciel creates compelling luxury builds. 
 
Distinctly identified by its facade wrapped in molded limestone, The Imperial features a French colonial design mix unique to the architectural landscape of the community. 
 
Furthermore, the property stands out for its groundbreaking achievement, securing the record for the highest price per square foot in Dubai Hills Views, which underscores its exceptional value and desirability in the real estate market and sets the benchmark of quality and finishing for super-prime- 100m+ mansions, it stated.
 
"We are thrilled to introduce The Imperial to the UAE market," said Ujjwal Goel, Director of Tercaiel Group. 
 
"We found an opportunity in the UAE’s luxury market that we believe Teraciel Properties can fill to provide some of the most discerning buyers with unparalleled quality and design. For decades, we have ensured excellence in all of our facets across the business and we are now committing that same level of distinction to the projects we will be bringing to the market through Teraciel Properties and our associated companies," he noted.
 
According to him, the grand facade sets the scene for The Imperial's interior of six bedrooms, a pool, BBQ areas, three bars, a cigar room, a roof entertainment area, a spa, sauna, gym and massage room, which have been painstakingly designed to blend beauty and function alongside the latest amenities and cutting-edge technology. 
 
Intricate semi-precious mother-of-pearl inlays at the entrance, master bedroom and bathroom deliver something inimitable in this market, whilst bespoke furniture by ANCA accents the overall aesthetic with the highest-end veneers, semi-precious stones, custom-made carpets and chandeliers, to name but a few unique design elements. 
 
The result is soft classical, an enchanting melody of muted tones, refined details and creative use of space, including outdoor courtyards to deliver timeless elegance, comfort and tranquility, stated Goel. 
 
Established under Teraciel Group, which was born in 1985, Teraciel Properties bolsters the multidisciplinary group offering, which includes Teraciel Engineering & Contracting the civil division, La Sorogeeka Interiors the interior division and ANCA the bespoke furniture division, all of which are showcased through the launch of The Imperial, stated the company. 
 
Teraciel Group has an office team of over 150 staff and an additional 700 artisans and craftsmen, united through its work ethic, said Goel.
 
"Today, with its own in-house execution and manufacturing team, Teraciel Properties brings forty years of experience in luxury to the forefront of the debut project, The Imperial," he added.-TradeArabia News Service

Finance & Capital Market

Saudi bank credit rises 15% to $801.44bn

The total bank credit granted to the public and private sectors in Saudi Arabia reached its highest level at SAR3,005.9 billion ($801.44 billion) by the end of January 2025, according to the monthly statistical bulletin issued by the Saudi Central Bank (SAMA) for January 2025.
 
This marks an annual growth of 15% and an increase of over SAR348.22 billion compared to the same period in 2024, when it stood at SAR2,621.72 billion, a Saudi Press Agency report said.
 
Meanwhile, the total bank credit recorded a monthly growth of 2% by the end of January 2025, increasing by approximately SAR50.39 billion compared to December 2024, when it stood at SAR2,955.55 billion.
 
The bank credit granted to the public and private sectors was distributed across more than 17 diverse economic activities, serving as a key driver in achieving comprehensive and sustainable economic growth and contributing to the goals of Saudi Vision 2030, it said.

Finance & Capital Market

Tabreed issues $700m inaugural green sukuk

Tabreed, a leading district cooling company, today (March 5) announced the successful raising of $700 million via an inaugural, five-year green sukuk – the first issuance under its new USD 1.5 billion trust certificate issuance programme. 
 
The new sukuk will be listed and traded on London Stock Exchange’s International Securities Market.  
 
The issuance of new green sukuk attracted strong institutional demand from high quality local, regional and international investors. 
 
This led to the order books exceeding 4.3 times and final issue being oversubscribed by nearly 2.6 times, reflecting the high level of investor confidence in Tabreed’s robust credit fundamentals. 
 
The sukuk was competitively priced with a profit rate of 5.279%, achieving the highest tightening by any investment grade regional sukuk issuance this year and the tightest ever credit spread for a five-year instrument by Tabreed and or any other UAE corporate sukuk with a similar credit rating, said Tabreed in a statement. 
 
This high demand was supported by investment grade credit ratings from Moody’s (Baa3) and Fitch (BBB), consistent with Tabreed’s corporate ratings, it stated. 
 
Following the sukuk announcement, CEO Khalid Al Marzooqi, said: "Tabreed’s enviable reputation is built on the foundations of sustainability and operational excellence, so this, our first green sukuk, is perfectly aligned with our existing business while focussing on new developments."  
 
Tabreed, he stated, continues to be a pioneer in the international sukuk market, having been a regular issuer over the past 20 years. 
 
In 2006, its $200 million sukuk issuance was the first to be listed on the London Stock Exchange, which paved the way for other issuers to follow. That issuance was also the first rated sukuk by a corporate entity in the Middle East. 
 
Al Marzooqi said: "The UAE has an ambitious roadmap for net-zero and we are proud at Tabreed to play a vital role in preventing large scale carbon emissions while enabling societal progress through sustainable district cooling."
 
"The importance this company attaches to ESG cannot be overstated and our investors know that the energy transition, of which we are at the very centre, is not only good for the environment but good for business, too," he stated. 
 
Chief Financial Officer Adel Al Wahedi said: "We are delighted with the investor response to our first green sukuk. This demonstrates the strength of our business model, financial stability and sustainability credentials of Tabreed."
 
"This issuance is part of our $1.5 billion programme aimed at supporting our ambitious growth plans and sustainability commitments," he added. 
 
The framework was accompanied by a Second Party Opinion from leading, global ESG ratings agency, Sustainalytics. Together they demonstrate the sustainable nature of Tabreed’s district cooling operations, which use approximately 50% less electricity than conventional cooling. 
 
Citi and Standard Chartered Bank acted as Joint Global Coordinators and Citi, Emirates NBD Capital, First Abu Dhabi Bank, HSBC and Standard Chartered Bank acted as Joint Lead Managers and Joint Bookrunners, with Abu Dhabi Commercial Bank acting as Co-Manager.-TradeArabia News Service