Dubai Financial Center completes the repayment of $700 million sukuk

Yesterday, the Dubai International Financial Center announced the full payment of outstanding sukuks worth $700 million on time, which represents an important achievement in implementing its sustainable financing strategy, and based on its full commitment to pursuing responsible financial management.

The repayment of the sukuks confirms the Center’s financial strength and is a result of its adoption of responsible financial policies that enhance the efficiency of its debt and financing portfolio. The center stated in a statement that these financial policies work to reduce borrowing costs, mitigate refinancing risks, focus on achieving cash liquidity from basic activities, and ensure financial stability in the medium and long term.

The Governor of the Dubai International Financial Center, Issa Kazim, said: “The Center’s payment of the full sukuks it issued in 2014 on the specified date of their maturity represents a reflection of the strength of its financial system. Over the past 10 years, its financial policy has focused its priorities on supporting investment plans in commercial infrastructure.” High quality.

The Dubai International Financial Center Investments Limited Company assumed responsibility for issuing the sukuk with the aim of financing the center’s expansion plans through real estate infrastructure and the development of its new retail destination, “Gate Avenue.”