#United Arab Emirates #Dubai #Greenberg Traurig #Sukuk Issuance #Arada Developments

Greenberg Traurig Advises Arada on a Significant Sukuk Issuance

In an impressive move within the financial markets, Greenberg Traurig, a prominent global law firm, has represented Arada Developments LLC in relation to its recent issuance of a $400 million sukuk that is set to mature in 2031. This substantial issuance represents a critical step for Arada as it continues to establish its presence in capital markets.

The sukuk has been listed on the London Stock Exchange's International Securities Market, indicating the company's preparation for a robust presence in international finance. This latest issuance is a part of Arada's expanded sukuk program, which aligns with a recent consent solicitation that introduced an optional dissolution call into the terms of a previously issued sukuk in 2022, as well as a corresponding tender offer worth $169 million.

Greenberg Traurig has been actively involved in advising Arada on these transactions, which are seen as pivotal for the company. The firm was also instrumental during the previous issuance of a $450 million sukuk, which garnered awards as the UAE Deal of the Year and Hybrid Deal of the Year at the Islamic Finance News Awards 2025. This consecutive participation showcases the firm's trusted strategic role within the evolving frameworks of Islamic finance.

Founded in 2017, Arada has rapidly developed a portfolio of residential and mixed-use communities in various regions, particularly in Sharjah and Dubai. With projects like Aljada, Masaar, Jouri Hills, Armani Beach Residences, and the W Residences at Dubai Harbour, Arada is not only a real estate developer but also an active player in sectors such as retail, education, and hospitality.

The Greenberg Traurig team based in Dubai, led by Capital Markets Shareholder Alex Roussos, facilitated this complex transaction with a team comprising of James Osun-Sanmi, Sana Siddiqui, Olga Efstathiou, Dahlia Taqi, and Katie Phillips from the London office. Roussos expressed pride in guiding Arada through what they termed a challenging transaction, particularly conducting it within such unpredictable market conditions. He noted the rigorous demands of coordinating two separate liability management exercises, which highlighted both investor appetite and Arada's concurrent rise in the regional real estate sector.

Founded in 2023, Greenberg Traurig has established its operations in the Middle East, initially launching offices in Riyadh and Dubai, with a subsequent expansion to Abu Dhabi in 2025. The firm has rapidly set itself in sectors experiencing substantial growth in the region, including real estate, energy, finance, M&A, and private equity.

Greenberg Traurig has consistently ranked among the top law firms globally, recognized for its expansive legal services, trust in client relationships, and diversification across borders and sectors. With approximately 3,200 lawyers operating in 51 locations worldwide, the firm continues to strengthen its global foothold and is well-positioned to support innovative financing initiatives like Arada's sukuk issuance.

As Arada embarks on these capital market adventures with Greenberg Traurig's continued guidance, it will undoubtedly create significant ripples in the regional real estate landscape, facilitating further growth and inspiring other corporations in the region to explore similar financial opportunities.

In summary, this sukuk issuance marks not only a financial milestone for Arada Developments but also underscores the collaborative strength between the firm and its legal advisors, paving the way for future developments in their ambitious portfolio.