Arada’s debut sukuk wins two awards at global finance industry event
News: 19 April 2023
- Developer takes home ‘Best Islamic Borrower’ and ‘Best Corporate Sukuk’ at EMEA Finance Awards 2022
Arada’s recent $500 million sukuk issuance has won two major awards at the EMEA Finance Awards, one of the most prominent events for the Middle East’s banking and finance industry.
Arada was named “Best Islamic Borrower” and its debut sukuk transaction was acknowledged as ‘Best Corporate Sukuk’ for 2022.
Arada’s public financing deal was the first US dollar corporate sukuk globally in 2022, and the company also became Sharjah’s first corporate issuer for five years and the first real estate issuer from the region in 2022.
Ahmed Alkhoshaibi, Group CEO of Arada, said: “We are pleased to be recognised as ‘Best Islamic Borrower’ for the landmark transactions that Arada has completed in line with our strategy to diversify our investor base and provide the essential funding required to execute our business strategy.”
EMEA Finance is an international financial magazine offering insight into the economic processes of European, Middle Eastern and African countries. The magazine’s data, studies and expert reports offer a significant source of information for professionals actively operating in the EMEA region.
Last year, Arada’s debut sukuk also won ‘Best Real Estate Deal 2022’ at the Global Islamic Finance Awards.
