Dubai-based developer Omniyat has priced a $400m sukuk with a maturity of 3.5 years. The issuance is the company's second issuance in less than six months. It attracted robust interest from both international and regional investors, with the order book exceeding $1bn before closing at over $800m.

The profit rate is set at 7.25%, which is a significant improvement of 112.5 basis points compared to Omniyat's previous sukuk transaction earlier this year..

The sukuk will be listed and traded on the London Stock Exchange’s International Securities Market as well as Nasdaq Dubai.

In May, Omniyat raised $500m with a three-year green sukuk, marking its entry into the international debt capital markets. With this latest issuance, the company has raised a total of $900m in 2025.

In June, Omniyat launched a commercial tower known as Lumena that it plans to build on Sheikh Zayed Road close to the Business Bay Metro station. Omniyat says it is targeting Leed Platinum certification for the building. 

With a gross development value of AED3.6bn, the 48-storey tower comprises 91 shell-and-core office units across three categories: 59 offices (three per floor plate), 30 half-floor offices (two per floor plate) and two full-floor offices. The building will also have amenities including a health club and 1,000 parking spaces.

Also in June, Omniyat confirmed that it has acquired Marasi Bay Island in Business Bay. The development plans for the reclaimed island include a marina, and a 10,000 square-foot retail and events space. 

In May, Omniyat appointed Abu Dhabi-based Arabian Construction Company (ACC) as the main contractor for its Vela and Vela Viento projects at Marasi Bay. The Vela by Omniyat project is a 31-storey residential building, whereas Vela Viento is a 44-storey building.