Press Release | December 15, 2025
Dubai, UAE: Nasdaq Dubai has welcomed the listing of a USD 500 million Sukuk issued by MAF Sukuk Ltd., marking an important step in Majid Al Futtaim’s continued engagement with Dubai’s international debt capital markets. Guaranteed by Majid Al Futtaim Holding LLC, the Sukuk highlights the Group’s commitment to accessing diversified pools of global investors through Dubai’s internationally aligned market infrastructure.
The Sukuk, which matures on 22 October 2035 and carries a profit rate of 4.875%, attracted strong investor interest, with the order book exceeding USD 2 billion. Rated ‘BBB’ by S&P and Fitch, the issuance will be used to support general corporate purposes and refinancing activities.
The listing follows Majid Al Futtaim’s recent hybrid bond issuance, which was oversubscribed by more than five and a half times and priced at 5.75%. The strong demand across both instruments reflects sustained investor confidence in the Group’s financial strength, diversified portfolio, and disciplined capital management strategy.
To mark the listing, Ahmed Galal Ismail, Chief Executive Officer of Majid Al Futtaim Holding, rang the market-opening bell at Nasdaq Dubai, alongside Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), and senior representatives from both organisations.
Ahmed Galal Ismail, Chief Executive Officer, Majid Al Futtaim Holding, said:
“Our recent Sukuk issuance on Nasdaq Dubai stands as a clear testament to Majid Al Futtaim’s growth, the resilience of our credit profile, and the enduring confidence global investors place in our business. The strong order book and robust investor demand reflect our track record in international capital markets for over a decade, anchored by our commitment to building an investment-grade profile and maintaining disciplined capital allocation. Achieving the closest spread in our history underscores investor trust and the strength of our financial position, as we continue leveraging Dubai’s world-class market infrastructure to access global capital and drive future growth.”
Hamed Ali, CEO of Nasdaq Dubai and DFM, said:
“Majid Al Futtaim’s latest Sukuk listing reflects the continued strength of regional corporates in attracting global capital and 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. Nasdaq Dubai remains committed to providing an efficient, internationally recognised platform that connects issuers with a diverse global investor base.”
With this latest listing, Majid Al Futtaim now has USD 2.2 billion in Sukuk listed on Nasdaq Dubai across four issuances, further strengthening its position as a leading participant in the region’s debt capital markets. The issuance adds to the growing pipeline of regional and international issuers leveraging Dubai’s markets to access global capital.
The listing also increases the total outstanding value of debt securities on Nasdaq Dubai to more than USD 145 billion, reinforcing the exchange’s role as the region’s premier platform for international fixed-income instruments and cross-border capital flows.
