Majid Al Futtaim lists world’s first benchmark corporate Green Sukuk on Nasdaq Dubai

Dubai, UAE, May 15, 2019: Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia today rang the market-opening bell at Nasdaq Dubai to mark the listing of the world’s first benchmark corporate Green Sukuk and the first Green Sukuk issued by a corporate in the region.

Valued at USD 600 million and with a tenor of ten years, the Green Sukuk is testament to Majid Al Futtaim’s long term commitment to support the transition to a low carbon economy. The investment will be used to finance and refinance Majid Al Futtaim’s existing and future green projects, including green buildings, renewable energy, sustainable water management, and energy efficiency.

To mark the occasion, Alain Bejjani, Chief Executive Officer at Majid Al Futtaim - Holding, rang the market-opening bell in the presence of His Excellency Essa Kazim, Governor of Dubai International Financial Centre (DIFC) and Chairman of Dubai Islamic Economy Development Centre (DIEDC), Hamed Ali, Chief Executive of Nasdaq Dubai and members of Majid Al Futtaim’s leadership team.