SaudiArabiaPR.com, Online Press Release from Saudi Arabia,Riyadh, Jeddah, Dammam, Meccca and Medina
 
Property & Real Estate(Real Estate & Retail)
Filter PR by
  
SHUAA successfully issues and places USD135 million (SAR 506 million) Sukuk for Jabal Omar Development Company
SHUAA successfully issues and places USD135 million (SAR 506 million) Sukuk for Jabal Omar Development Company

Kingdom of Saudi Arabia, January 8. 2019:  SHUAA Capital psc (SHUAA), the UAE-based financial services group is pleased to announce the issuance and private placement of a USD135 million SAR 506 million dollar-denominated five-year Sukuk for Jabal Omar Development Company (JODC), one of the largest publicly-listed real estate companies in Saudi Arabia as it seeks to strategically diversify its capital base. SHUAA acted as the sole arranger for the Sukuk , (The Sukuk was originally issued in the 2nd half of 2018).

The Sukuk represents a fitting choice of financing for JODC, given the long-term nature of its requirements as a real estate developer and its focus on the holy city of Makkah. It also reflects a growing trend for Sukuk issuances, which raised $97.79 billion globally in 2017, up 45 per cent year on year, and particularly in the Kingdom of Saudi Arabia, which raised more than $26 billion that year.

Fawad Tariq-Khan, Chief Executive Officer of SHUAA, said, “Sukuks represent an ideal financing mechanism for the long-term funding requirements of real estate, as reflected by the dominance of the sector in issuing Sukuks over the past 18 months in the region. In line with our growing role in both the Saudi financial and real estate markets, SHUAA Capital’s combination of expertise therefore made us the natural partner for Jabal Omar Development Company and we are delighted to support its successful Sukuk issuance.”

JODC is one of the largest listed real estate companies on the Saudi Tadawul Stock Exchange and the company’s Sukuk issuance will support its capital raising initiatives towards the growth and development of its real estate activities, specifically in and around the holy city of Makkah. Its flagship project, Jabal Omar, is a multi-use real estate mega development project consisting of a total built-up area exceeding 2.0 million square meters within walking distance of The Grand Mosque of Makkah.

Posted by : Saudi Arabia,Riyadh, Jeddah, Dammam, Meccca and Medina PR Network Editorial Team
Viewed 1718 times
PR Category : Real Estate & Retail
Posted on : Tuesday, January 8, 2019  5:30:00 PM UAE local time (GMT+4)
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories

 
 
Most Viewed Press Release posted in the last 7 days
Invictus & Olympéa Chapter 2: Enter the Legend [16958-Views]
Juliette has a gun's New Vanilla Vibes Perfume, a hymn to Adventure and Freedom, now in the UAE [15445-Views]
Boss Bottled Oud Aromatic and Saffron: the New Enticing Fragrances [15096-Views]
Make Up for Ever Kicks-off Helwet Ramadan – Season 3 [13181-Views]
This Festive Season, it's all about gifting and loving [12189-Views]
Cerruti 1881 launches a splendid new collection for the festive season [11910-Views]
Police Is the Official Eyewear in the Sony Pictures Film “Men in Blacktm: International” [11849-Views]
Chloé Launches The New Spring/summer 2019 Advertising Campaign Featuring Two Iconic “rosie” Style Su... [10721-Views]
A Re-branded Global Innovations is thrilled to announce the launch of a new product at the upcoming ... [10574-Views]
New Pampers Pure Protection Diapers contains Premium cotton and plant-based materials to give your ... [10041-Views]
Turkish Airlines records impressive Q1 passenger growth in the Middle East [9902-Views]
As if Made from One Piece: GROHE Offers Individual System Solutions for the Entire Work Area Around ... [8450-Views]
Michael Kors Co-hosts the 10th Anniversary of the Annual Filmmakers Dinner [8344-Views]
Amazing Day 3 for Global Innovations at ATM 2019 [7733-Views]
Michael Kors Celebrates Old Bond Street Townhouse With a Series of Events [7458-Views]
Successful Day 1 For Global Innovations At ATM 2019. [7277-Views]
Second Day of Global Innovations Attracts Innumerable Travel Enthusiasts from Different Regions at A... [6921-Views]
Celebrities in Michael Kors Collection at the 2019 MET Gala [6859-Views]
Saint Honore [6818-Views]
Chloé Launches The New Cloud-shaped “rosie” Sunglasses [6667-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories