2023-05-16 10:53:56
Abu Dhabi – Mubasher: Aldar Properties Company in Abu Dhabi plans to issue the first dollar-denominated green sukuk, according to market conditions.
A document revealed that a unit belonging to Aldar Properties assigned banks to arrange contact with international investors today, Tuesday, to be followed by a series of individual meetings with a small group of investors in fixed income instruments, according to Archyde.com.
The document indicated that this will be followed by the first record issuance of unsecured green sukuk denominated in dollars for a period of 10 years, according to market conditions..
The company appointed HSBC and Standard Chartered as joint global coordinators.
It also appointed Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank and Mashreq as joint lead managers and joint bookrunners.
Faisal Falaknaz, Chief Financial Officer and Sustainability Officer at Aldar Properties Group, said in early May that the company had recently invested 8 billion dirhams in revenue- and profit-generating assets..
Flenkaz explained that the largest investment made by the company was in July of last year, through the purchase of 4 towers in the Abu Dhabi Global Market on Al Maryah Island, at a value of 4.3 billion dirhams..
He added that the company plans to launch its new projects in Abu Dhabi, Dubai and Ras Al Khaimah during the coming period.
He pointed out that the occupancy of these towers reached 79% last year, while it increased during the first quarter of this year to reach 97%, attributing the matter to the large demand for renting office space in Abu Dhabi..
In an interview with the media to discuss the company’s performance in the first quarter of this year, he said that the company has an investment plan by purchasing assets that generate operating profits at a value of 5 billion dirhams, as these assets will provide continuous growth in profits..
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