DUBAI: The Private Department of Sheikh Mohamed Bin Khalid Al Nahyan LLC (PD), a relatively small real estate player in Abu Dhabi owned by members of its ruling family, has hired banks for a debut sale of US dollar-denominated sukuk, or Islamic bonds, a document showed on Monday.
The company, which owns a portfolio that is 90 percent in the United Arab Emirates capital with the rest in neighboring Dubai, hired Emirates NBD Capital and First Abu Dhabi Bank as global coordinators.
Abu Dhabi Commercial Bank, Dubai Islamic Bank and Mashreq will join them in arranging investor calls starting on Monday, the document from one of the banks showed.
A five-year sukuk sale will follow, subject to market conditions. Proceeds will fund capital expenditure and acquisitions, S&P Global Ratings said in a report.
The agency has assigned PD a sub-investment grade ‘BB’ long-term issuer rating, constrained by its “limited portfolio size in a fragmented and weak Abu Dhabi real estate market and its high leverage,” but “supported by good asset quality, locational advantage, and strong shareholders.”
Properties in development are expected to result in revenue growth of between 4 percent and 5 percent this year and 25 percent to 30 percent in 2022. Its portfolio “will remain small in a regional context” despite the additions and potential acquisitions, S&P said.
The properties market in the United Arab Emirates — a significant component of the country’s gross domestic product — suffered last year amid the coronavirus crisis, with prices in Abu Dhabi and Dubai falling sharply.
“The Abu Dhabi real estate market is at a low point in the cycle, which could dampen the company’s growth,” S&P said.
Abu Dhabi real estate firm, owned by ruling family, in dollar sukuk sale
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Abu Dhabi real estate firm, owned by ruling family, in dollar sukuk sale
- The company, which owns a portfolio that is 90 percent in the United Arab Emirates capital with the rest in neighboring Dubai, hired Emirates NBD Capital and First Abu Dhabi Bank as global coordinators
SVC drives $1.2bn investment surge, cements Saudi Arabia’s lead in MENA venture capital
JEDDAH: Saudi Venture Capital Co. has committed $1.2 billion since 2018 to venture capital and private equity funds, catalyzing $5.9 billion in partner investments and helping the Kingdom maintain its position as the leading venture capital market in the Middle East and North Africa in 2025.
SVC’s annual “Impact Report” revealed that the number of funds backed by the company has risen to 65, while the number of startups and small and medium-sized enterprises supported has exceeded 1,000 across key sectors, including e-commerce, fintech, and healthcare, as well as education technology, transport, and logistics.
The development reflects Saudi Arabia’s broader push to expand venture capital and startup funding as part of Vision 2030, with authorities seeking to strengthen the Kingdom’s position as a regional hub for innovation and private capital.
Nora Al-Sarhan, deputy CEO and chief investment officer at SVC, said the study highlights the transformative progress across Saudi Arabia’s private capital ecosystem driven by the goals of Vision 2030.
“We remain committed to developing investment programs, products, and developmental initiatives based on market needs analysis and aligned with leading global models, which enhance the competitiveness of the Saudi private capital ecosystem, support diversification of the national economy, and help achieve the goals of Vision 2030,” she said.
The analysis noted that SVC’s strategy helped the Kingdom retain its top ranking in MENA venture capital funding for the third consecutive year in 2025, reaching a record $1.7 billion.
“This reflects the growth seen across various economic and financial sectors under Vision 2030, which aims to strengthen the national economy,” SVC said in a statement.
The release underlined that the number of venture capital investors in the Kingdom has grown sixfold since SVC’s founding in 2018, rising from 34 to 200 by 2025. The expansion underscores the increasing depth of the market and the growing institutional investor base.
The report also highlighted the launch of the inaugural Private Capital Forum, a regional platform designed to advance dialogue on private capital. The event featured 59 speakers across 20 sessions, attracting 1,070 participants, reaching 7.2 million people digitally, and generating more than 10.5 million media impressions.
As of February 2025, SVC had supported 54 funds, which have invested in more than 800 startups and SMEs across various sectors.
Saudi Arabia remained the top VC destination in MENA in 2024, securing $750 million across 178 deals, about 40 percent of the region’s total, while the UAE followed with $613 million across 188 agreements.
The Kingdom’s venture capital sector saw record growth in 2025, with 254 deals totaling $1.66 billion, reflecting a maturing ecosystem, rising investor confidence, and continued leadership under Vision 2030.
