Nasdaq Dubai has recently welcomed a USD 500 million Sukuk issued by MAF Sukuk Ltd., marking a significant milestone in the Islamic debt market. The Sukuk, which matures in October 2035 with a profit rate of 4.875%, is guaranteed by Majid Al Futtaim Holding LLC. This issuance has attracted an order book exceeding USD 2 billion, demonstrating strong global and regional investor participation.

The listing of this Sukuk on Nasdaq Dubai underscores Majid Al Futtaim's commitment to accessing diverse pools of global investors through Dubai's internationally aligned market infrastructure. Rated 'BBB' by both S&P and Fitch, the Sukuk will support the company's general corporate purposes and refinancing plans. This follows a successful hybrid bond issuance by the company, which was oversubscribed more than five and a half times.

The strong momentum across both instruments reflects investor confidence in the financial strength, diversified operations, and disciplined capital management strategy employed by Majid Al Futtaim. The resilience of their credit profile and the enduring confidence of global investors in their business are evident from the robust investor demand and strong order book.

Ahmed Galal Ismail, Chief Executive Officer of Majid Al Futtaim Holding, emphasized that the recent Sukuk issuance stands as a testament to the company's growth and the strength of its financial position. He highlighted the importance of leveraging Dubai’s world-class market infrastructure to access global capital and drive future growth.

Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), noted that the latest Sukuk listing reflects the continued strength of regional corporates in attracting global capital. It also highlights Dubai's position as a leading marketplace for Islamic finance. The strong investor response reinforces the trust placed in issuers that demonstrate sound financial management and long-term resilience.

In light of these developments, investors might consider a 'buy' recommendation for Majid Al Futtaim's instruments. The company's strong financial position, strategic market engagement, and the robust demand for its Sukuk indicate a promising outlook. Additionally, the support from Dubai's market infrastructure and the company's disciplined capital management strategy further enhance its investment appeal.