The construction of Mada Residences, a luxury residential tower in Downtown Dubai, is on track to be handed over as promised in Q2 2018 thanks to hitting a number of impressive milestones in the last 12 months.
ARTAR Real Estate Development has confirmed it is ending the year on a high, having completed 30 floors of the new building, which will stand out among the rest for being delivered on time in one of Dubai’s most sought after neighborhoods.
Eng. Okbah Abdulkarim, COO for ARTAR Real Estate Development said, “Careful planning and execution from our teams of engineers, architects and workers have allowed us to stay on track with development. As it stands, Mada Residences is the only residential building in Downtown Dubai slated for handover as promised by Q2 2018.”
Throughout its development, four cranes carried 6,000 tons of steel and 31,000 cubic meters of concrete that went into the construction of 36 floors containing 200 flights of stairs. 13,000 square meters of fire-proof stone finish porcelain cladding and 17,000 square meters of glass make up the façade of Mada Residences.
Offering a luxury residential experience in the heart of the city, with 193 spacious 1-, 2-, 3- and 4-bedroom apartments designed with liveability in mind, the tower is a one-minute walk from the new Dubai Mall extension and features a Signature Collection of nine elite 4-bedroom apartments.
Mada Residences stays on track with construction milestones for 2017
Mada Residences stays on track with construction milestones for 2017
GIB Capital strengthens regional leadership with $2.1bn ICM transactions
GIB Capital, one of the region’s leading financial and investment banking advisers, has announced the successful execution of three major international capital markets transactions in November, underscoring the firm’s growing influence and distribution strength across global debt markets.
In a single month, GIB Capital acted in joint lead manager roles across three landmark issuances — supporting clients in the banking, aviation and government sectors — and attracting an aggregate of more than $4.6 billion in investor demand from the Middle East, Europe, Asia, the UK and the US. These transactions, which collectively raised over $2.1 billion, further demonstrate the confidence international investors place in GCC issuers and the strategic value GIB Capital brings to each mandate.
The firm began the month by serving as joint global coordinator, joint lead manager and bookrunner on the inaugural ICM issuance for GIB — Saudi Arabia. The $500 million perpetual non-call 5.5-year additional Tier 1 instrument was priced on Nov. 5 and generated an impressive $1.3 billion in orders, achieving a 2.6-times oversubscribed orderbook. The strong participation from regional, UK, Asian and European investors reflect the bank’s robust credit fundamentals and GIB Capital’s ability to deliver global reach for its clients.
On the same day, GIB Capital also acted as joint lead manager and bookrunner for AviLease’s first-ever ICM transaction — an $850 million bond offering that attracted exceptionally strong interest, closing in at over 3.7 times oversubscribed orderbook. The transaction drew participation from a diverse pool of regional, US, UK, European and Asian investors, highlighting the appeal to Saudi Arabia’s fastest-growing aviation leasing company.
Further reinforcing its leadership in Islamic finance, GIB Capital concluded the month as joint lead manager and bookrunner on the government of Sharjah’s $750 million sukuk issuance, priced on Nov. 18. The transaction secured $2 billion in orders, representing a 2.6-times oversubscribed orderbook, with interest coming primarily from regional, UK and European accounts. This issuance marked government of Sharjah’s first US dollar public issuance in 2025 and benefited from strong investor confidence toward Sharjah’s credit story and in GIB Capital’s advisory expertise.
Commenting on the milestone month, Osamah Mohammed Shaker, CEO of GIB Capital, said: “These three successful issuances reflect the depth of trust our clients place in GIB Capital and the strength of our distribution network across global markets. The robust oversubscriptions and high-quality investor participation are clear indicators of the continued confidence in GCC credit stories and the resilience of the region’s economic outlook. We remain committed to delivering best-in-class execution, innovative structuring, and strategic advisory that enable our clients to access international liquidity efficiently and competitively.”
With a growing portfolio of successful mandates, GIB Capital continues to expand its presence as a leading provider of debt capital markets solutions, capital markets advisory, mergers and acquisitions, debt advisory, asset management and brokerage services. Combining deep regional insight with global investor connectivity, the firm remains committed to supporting clients across sectors with innovative, tailored, and high-impact financial solutions.
