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#Aldar General News

October 16, 2019

Aldar Investments' Landmark Us$500 Million 10-Year Sukuk Attracts Strong Investor Demand

First ever 10-year public Sukuk offering by an Abu Dhabi-based

Lowest ever coupon achieved by an Aldar entity, at 3.875%

Strong demand from international investors, with issue over 6 times oversubscribed

Abu Dhabi - UAE, 16th October 2019: Aldar Investment Properties LLC ("Aldar Investments"), a 100% owned subsidiary of Aldar Properties PJSC ("Aldar"), announced today the successful placement of fixed rate US dollar-denominated sukuk with a tenor of 10 years for a nominal amount of US $500 million.

The sukuk carries a coupon rate of 3.875%, the lowest rate ever achieved by Aldar, following strong investor demand. The transaction, which marked the first 10-year public Sukuk offering by an Abu Dhabi-based issuer, was over 6 times oversubscribed, with global investors accounting for 71% of the total transaction allocation.

Aldar Investments owns and manages a AED 20 billion diversified portfolio of high-quality income-generating residential, retail, commercial and hospitality assets.

Commenting on the sukuk issuance, Talal Al Dhiyebi, CEO of Aldar said:"The success of the transaction represents a strong endorsement by the global investment community of the Abu Dhabi economy and of Aldar's leading position in the regional real estate sector. This landmark deal further strengthens our balance sheet, and is testament to Aldar Investments' status as one of the most efficient platforms for property ownership in the region."

The net proceeds of the offering will be used to refinance existing debt. The issuance contributes to an optimal diversification of Aldar Investments' funding base and extends Aldar's overall duration of its liabilities.

Aldar Investments is rated Baa1 by Moody's, the highest credit rating for a corporate non-government corporate in the region reflecting its leading market position in Abu Dhabi, stable recurring revenue, high quality of diversified assets, high occupancies, diversified tenant based and strong operating model.

Aldar mandated Dubai Islamic Bank, First Abu Dhabi Bank, HSBC and Standard Chartered Bank as Joint Global Coordinators and Joint Lead Managers, along with Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Emirates NBD Capital and Sharjah Islamic Bank as Joint Lead Managers.