GFH joint lead manager on Dar Al Arkan's $400 mln sukuk issuance

18/07/2022 Argaam

Logo of GFH Financial Group

GFH Financial Group announced today, July 18, acting as a joint lead manager, alongside other parties, on the pricing and issuance of Dar Al Arkan Real Estate Development Co.’s SAR 1.5 billion ($400 million) sukuk.

 

In its statement, GFH explained that the offering of the three-year sukuk, which took place on June 30, was met with strong demand from regional and international investors.

  

The group pointed out that this marks the 12th market issuance for the real estate developer to date. 

  

Proceeds from the issuance will be used to further support the company's development goals and pipeline of world-class projects.

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