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Dubai Investments Park celebrates listing of 300 million dollar Sukuk on NASDAQ Dubai  Join our daily free Newsletter

MENAFN Press - 18/03/2014
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(MENAFN Press) Abdul Aziz Yaqob Al Serkal, General Manager of Dubai Investments PJSC, today rang the market opening bell to celebrate the listing of a 300 million dollar (AED 1.1 billion) Sukuk by Dubai Investments Park Development Co. LLC (DIP) on NASDAQ Dubai



The listing by DIP, the largest integrated business and residential community in the Middle East, brings the total of new listings of Sukuk in Dubai since the beginning of 2013 to 12.55 billion dollars.





His Excellency Essa Kazim, Chairman of Dubai Financial Market (DFM) and Secretary General of Dubai Islamic Economy Development Centre, said: "Dubai's rapid growth towards becoming the global centre for Sukuk is set to gain momentum in 2014, in line with the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, to position Dubai as the global capital of the Islamic Economy, under the direction of His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council. DIP's decision to list in Dubai demonstrates the important role played by the Islamic capital markets in supporting the funding requirements of a variety of companies that underpin the Emirate's growth and development.



Khalid Bin Kalban, Managing Director and CEO, Dubai Investments PJSC, said: "NASDAQ Dubai's streamlined admissions procedure positioned the exchange as an ideal venue for our Sukuk, in a commercial environment where fast and responsive decision-making is a significant factor. We appreciate the high visibility with regional and global investors provided by the region's international stock market, as well as the opportunity to list alongside other prominent issuers of Sukuk.



Abdul Wahed Al Fahim, Chairman of NASDAQ Dubai, said: "NASDAQ Dubai is delighted to support DIP's important activities in promoting development in the industrial, commercial and residential spheres through its Sukuk listing. The exchange will maintain its strategy of building critical mass in Sukuk as well as promoting other asset classes, innovation and best practice across the Islamic capital markets sector.



Including the listing of DIP's Sukuk in February, the total value of all Sukuk currently listed in Dubai has reached 18.98 billion dollars. Dubai is the third largest centre for listed Sukuk globally by value.



In addition to His Excellency Essa Kazim and Mr. Abdul Wahed Al Fahim, the bell ceremony was also attended by Hamed Ali, Chief Executive of NASDAQ Dubai; Abdulla Al Awar, Chief Executive of the Dubai Islamic Economy Development Centre; Omar Al Mesmar, General Manager of Dubai Investments Park Development Company; Rohit Walia, Executive Chairman of Alpen Capital; and Sanjay Vig, Managing Director, Alpen Capital.


About NASDAQ Dubai
NASDAQ Dubai is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as global issuers that seek regional and international investment. The exchange currently lists shares, derivatives, Sukuk (Islamic bonds) and conventional bonds.The majority shareholder of NASDAQ Dubai is Dubai Financial Market with a two-thirds stake. Borse Dubai owns one third of the shares. The regulator of NASDAQ Dubai is the Dubai Financial Services Authority (DFSA). NASDAQ Dubai is located in the Dubai International Financial Centre (DIFC).About Dubai Investments ParkDubai Investments Park [DIP] is a unique, self-contained mixed-use industrial, commercial and residential complex operated by Dubai Investments Park Development Company LLC. Spread across an area of 2,300 hectares (with 1,700 hectares leased), its master-plan was developed in 1997. It has been designed as a city-within-a-city offering state-of-the-art infrastructure and outstanding facilities and services. A subsidiary of Dubai Investments PJSC, DIP is divided into three distinct zones “ each setting the benchmark for high quality projects in a well-planned, fully-integrated master community development. DIP is strategically located within minutes from the Al Maktoum International Airport and Jebel Ali Port.

 


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