Dubai Investments Park celebrates Nasdaq listing
Dubai, March 17, 2014
Dubai Investments Park, a mixed-use industrial, commercial and residential complex, celebrated the listing of its $300 million sukuk on Nasdaq Dubai.
The listing by DIP brings the total of new listings of sukuks in Dubai since the beginning of 2013 to 12.55 billion dollars.
Dubai Investments general manager Abdul Aziz Yaqob Al Serkal rang the market opening bell in the presence of several key government officials
Essa Kazim, the 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.
"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, the managing director and CEO of Dubai Investments, 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," he added.
Nasdaq chairman Abdul Wahed Al Fahim said: "We are 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," he added.-TradeArabia News Service