Aldar Investment Properties, the real estate management unit of the emirate’s largest listed developer, Aldar Properties, has raised $290 million as it continues to pursue its sustainability agenda.
The company, which owns and manages a Dh30.7 billion ($8.36 billion) portfolio of properties, has tapped its existing green sukuk - sharia-compliant bonds - maturing in 2034 and 2035 in the latest round of financing, Aldar said in a statement on Wednesday to the Abu Dhabi Securities Exchange, where its shares are traded.
The order book for the deal, which was 2.8 times oversubscribed, hit $830 million. Regional investors represented 52 per cent and international investors 48 per cent of the total transaction allocation.
“Aldar’s ability to attract strong demand from a broad base of investors underlines confidence in our strategy and investment-grade standing,” said Faisal Falaknaz, chief financial and sustainability officer.
Proceeds from the latest funding round will be used in line with the company’s green finance framework, the company said. This covers investment in sustainable projects, including green buildings, property upgrades to enhance energy efficiency, sustainable water management, pollution control measures and renewable energy sources.
Aldar has invested more than Dh150 million in retrofitting 69 properties to optimise energy efficiency and reduce emissions, it added.
Abu Dhabi Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, JP Morgan and Standard Chartered acted as joint lead managers and joint bookrunners on the deal.
The latest issuance follows several rounds of capital-raising by Aldar to diversify its funding sources. The company has close to Dh30 billion of available liquidity, which provides a substantial buffer against market swings while preserving flexibility to fund sustainable growth.
In May last year, Aldar Investment Properties raised $500 million through its debut green sukuk to acquire more sustainable assets.
The 10-year Sharia-compliant issuance was part of the company’s $2 billion financing programme to support growth, in line with the UAE Net Zero by 2050 strategic initiative and Aldar’s plan to be a net zero carbon business by 2050, the company said at the time.
Aldar Properties plans to hit a sales target of Dh31 billion, Mr Falaknaz told The National in an interview in March.
“By strengthening liquidity on a countercyclical basis, we are ensuring the flexibility to pursue growth while remaining resilient through cycles and committed to our sustainability agenda,” he said on Wednesday.
Three tips from La Perle's performers
1 The kind of water athletes drink is important. Gwilym Hooson, a 28-year-old British performer who is currently recovering from knee surgery, found that out when the company was still in Studio City, training for 12 hours a day. “The physio team was like: ‘Why is everyone getting cramps?’ And then they realised we had to add salt and sugar to the water,” he says.
2 A little chocolate is a good thing. “It’s emergency energy,” says Craig Paul Smith, La Perle’s head coach and former Cirque du Soleil performer, gesturing to an almost-empty open box of mini chocolate bars on his desk backstage.
3 Take chances, says Young, who has worked all over the world, including most recently at Dragone’s show in China. “Every time we go out of our comfort zone, we learn a lot about ourselves,” she says.
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Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
What are the GCSE grade equivalents?
- Grade 9 = above an A*
- Grade 8 = between grades A* and A
- Grade 7 = grade A
- Grade 6 = just above a grade B
- Grade 5 = between grades B and C
- Grade 4 = grade C
- Grade 3 = between grades D and E
- Grade 2 = between grades E and F
- Grade 1 = between grades F and G
