Majid Al Futtaim lists $500m Sukuk on Nasdaq Dubai amid strong investor demand

Nasdaq Dubai has listed a $500 million Sukuk issued by MAF Sukuk Ltd., guaranteed by Majid Al Futtaim Holding LLC, as the group expands its use of Dubai’s international debt capital markets to access a broader investor base.

The Sukuk, which matures on 22 October 2035 and offers a profit rate of 4.875%, generated an order book exceeding $2 billion. Proceeds will support the company’s general corporate purposes and refinancing plans. 

Hamed Ali, CEO of Nasdaq Dubai and DFM, stated that the listing underscores Dubai’s position as a hub for Islamic finance and global capital flows. “The strong investor response reinforces the trust placed in issuers that demonstrate sound financial management and long-term resilience,” he noted.

The new Sukuk brings Majid Al Futtaim’s total listings on Nasdaq Dubai to $2.2 billion across four issuances. It follows the company’s recent hybrid bond—which was heavily oversubscribed—and adds to the exchange’s growing pipeline of regional and international debt instruments. Nasdaq Dubai now hosts more than $145 billion in outstanding debt securities.