Binghatti’s $500M Green Sukuk Launch Soars on Nasdaq Dubai, Oversubscribed by 4x

Dubai’s property scene just got a green shot in the arm. Binghatti Holding, one of the emirate’s more daring developers, has launched its very first Green Sukuk on Nasdaq Dubai—worth a hefty USD 500 million. And the appetite for it? Absolutely through the roof. The issue drew in over USD 2.1 billion in orders, more than four times what was on offer. You don’t need to be a financial wizard to see that’s a pretty solid vote of confidence.

This Sukuk, part of a USD 1.5 billion issuance programme, will run until 2029 and carries a profit rate of 7.75%, down from the initial 8.125% guidance. In plain English, investors were so keen that Binghatti could afford to trim the rate a little—never a bad problem to have. The funds raised are earmarked for green projects under the company’s sustainability framework, echoing the UAE’s Net Zero 2050 goals and playing nicely into Dubai’s broader push for sustainable finance.

At the listing ceremony, Ahmed BinGhatti and Katralnada BinGhatti—Vice Chairman and CEO respectively—rang the opening bell at Nasdaq Dubai alongside the exchange’s chief, Hamed Ali. Katralnada described the oversubscription as proof that investors have real faith in Binghatti’s vertically integrated model and ESG ambitions. Fair to say, the company seems chuffed to bits with how its debut turned out.

Hamed Ali, for his part, said the new listing highlights growing demand for Islamic and eco-conscious investments. It’s another feather in Dubai’s cap as the city cements its reputation as a global financial hub that connects local issuers with international capital. And honestly, I reckon that’s spot on—Dubai’s been building that bridge for years now, methodically and with purpose.

Now, with Binghatti’s total Sukuk value on Nasdaq Dubai standing at USD 1.5 billion, the developer’s relationship with the exchange feels well-grounded. Nasdaq Dubai itself hosts over USD 141 billion in outstanding debt, reinforcing its role as one of the go-to venues for Islamic and sustainable finance globally. That’s not something to sniff at.

If you've been following Arageek’s coverage of MENA startups and sustainability moves like I have, you’ll know this sort of milestone matters. It’s not just about property or finance—it signals that major players in the region are actively tying growth to green principles. And yes, it’s a bit of a faff to design and certify these ESG frameworks, but the momentum is undeniably there.

Binghatti, founded back in 2008, has built an empire that spans everything from affordable flats to ultra-luxury branded residences. More than 80 projects under its belt, with over AED 80 billion in value, isn’t bad going. Beyond the bricks and glass, its focus on design-led concepts and sustainable construction tells another story: Dubai’s transformation is as environmental as it is architectural.

On the flip side, the true test will be how these “green” proceeds are used. Lots of companies make the right noises about sustainability, but delivering measurable impact takes discipline. Still, I wouldn’t bet against a firm that’s managed to grab the attention of billions—literally—in investor demand.

And believe it or not, these sukuk listings aren’t just financial fireworks—they’re public commitments. The kind that remind us, here at Arageek, why we keep rooting for innovation across the region. It’s exciting, sometimes messy, but definately worth watching.

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