Meraas repays 5-year $600 million sukuk

Meraas, the Dubai Holding subsidiary, repaid a $600 million (AED 2.2 billion) Sukuk at maturity, following its issue in May 2017.

The payment of the sukuk follows the settlement of a long-term credit facility of AED 4.2 billion ($1.1 billion) related to Meraas’ acquisition of DXB Entertainment, the parent company of Dubai Parks and Resorts, in 2021.

Meraas has over 80 million square feet of total developed land, more than 3,500 homes, 2,000 retail units, and 15 destinations in its portfolio.

Some of its real-estate properties include Al Seef, Bluewaters, Boxpark, City Walk, Dubai Harbour, Jumeirah Bay, Kite Beach, La Mer, Last Exit, Pearl Jumeirah, The Beach and The Outlet Village.