Bank of Sharjah Leads Omniyat’s $600 Million Sukuk Issuance

Bank of Sharjah served as Joint Lead Manager and Bookrunner in the successful placement of a US$600 million five-year Sukuk issued by Omniyat Holdings. The bank collaborated with a group of international and regional financial institutions to facilitate the transaction, helping bring the Islamic bond to market and ensuring strong participation from global investors.

The Sukuk offering attracted substantial interest from investors worldwide, with total orders reaching approximately US$1.8 billion. This demand resulted in the transaction being oversubscribed by nearly three times the offered size. The level of participation underscores investor confidence in Omniyat’s financial position, as well as continued optimism regarding the stability and growth prospects of the real estate sector in Dubai. It also reflects broader trust in the economic strength and policy environment of the United Arab Emirates.

The Sukuk was initially introduced to the market as a benchmark-sized issuance. However, the significant level of demand allowed the issuer to revise pricing more favorably, tightening the yield by 37.5 basis points from the initial guidance. As a result, the final profit rate for the five-year instrument was set at 7.25 percent. At the same time, the deal size was expanded to US$600 million, reflecting the strong reception among investors and the issuer’s ability to capitalize on favorable market conditions.

Commenting on the successful closure of this transaction, Mohamed Khadiri, CEO of Bank of Sharjah, said, “We are proud to have supported Omniyat throughout its capital markets journey. This third landmark issuance is a strong testament to disciplined execution and strategic market positioning. The achievement of tighter pricing, increased deal size, and longer tenor reflects both Omniyat’s strengthening credit narrative and our team’s expertise in Debt Capital Markets.”

Krishna Polepeddi, Acting Chief Treasury Officer at Bank of Sharjah, added, “This marks Omniyat’s third Sukuk issuance within nine months, and we are particularly pleased with the outcome amid heightened geopolitical uncertainty. Our role in this transaction reaffirms Bank of Sharjah’s ongoing commitment to supporting UAE corporates in accessing diversified funding sources through well-structured and innovative capital market solutions.

A notable portion of the Sukuk allocation was directed toward international investors. Approximately one quarter of the issuance was distributed to buyers across the United Kingdom, Europe, and US offshore markets, continuing a pattern seen in Omniyat’s earlier capital market transactions. This geographic distribution highlights the sustained global appetite for Omniyat’s credit and reinforces the growing international recognition of Dubai’s real estate market as an attractive investment destination.