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UAE opens first-ever retail T-Sukuk subscription, offering 4.3% returns to investors

The programme is the first initiative of its kind in the UAE and is designed to provide citizens and residents with direct access to a sovereign investment instrument

Reuters
Reuters

24 June, 2026

UAE opens first-ever retail T-Sukuk subscription, offering 4.3% returns to investors

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The Ministry of Finance (MoF) has announced the opening of subscriptions for the UAE’s inaugural Sovereign Retail T-Sukuk Programme, marking a significant milestone in the country’s efforts to broaden access to government-backed investment opportunities for individual investors.

Launched in close collaboration with the Central Bank of the UAE (CBUAE), the programme is the first initiative of its kind in the UAE and is designed to provide citizens and residents with direct access to a sovereign investment instrument that is fully backed by the UAE Government and compliant with Islamic Shariah principles.

Read more-Got Dhs1,000? UAE opens government-backed investing to the public

The inaugural issuance will have a total size of Dhs50m, with the subscription period running from June 24 to June 30, 2026 through approved digital channels. Investors will be able to participate with a minimum subscription amount of Dhs1,000, making the offering accessible to a broad segment of the population.

The first T-Sukuk issuance will carry a tenor of two years and offer a profit rate of 4.30 per cent per annum, determined in line with prevailing market conditions. Profit payments will be distributed every six months throughout the life of the instrument.

Digital-first subscription process

The Ministry of Finance said the programme has been designed around a fully digital subscription model aimed at simplifying participation and improving accessibility for retail investors.

Approved subscription channels include Dubai Financial Market’s Subscription platform, DFM app, iVestor app, and the digital banking platforms of Emirates NBD Bank, which has been appointed as the Lead Receiving Bank.

Other participating receiving banks include Emirates Islamic Bank, Abu Dhabi Islamic Bank (ADIB), Ajman Bank and Mashreq Bank.

Following the completion of the offering process, the sukuk are expected to be listed on Nasdaq Dubai and become available for trading from July 2, 2026.

Allocation of sukuk is scheduled to take place immediately after the subscription period closes, with issuance set for 1st July 2026. Any excess subscription amounts will be refunded no later than 7th July 2026.

Strengthening the sovereign investment ecosystem

Commenting on the launch, Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, described the opening of subscriptions as an important step in enhancing the UAE’s sovereign investment ecosystem.

“The opening of subscriptions for the Sovereign Retail T-Sukuk Programme marks a pivotal milestone in bolstering the readiness of the UAE’s sovereign investment ecosystem by providing structured fully digital subscription channels that enable individual investors to access government investment products efficiently and transparently through approved platforms,” Al Hussaini said.

He added that the initiative reflects the ministry’s commitment to providing a seamless and transparent investor experience from the point of subscription through to trading in the secondary market or holding the sukuk until maturity.

“This phase reflects the Ministry of Finance’s commitment to delivering a comprehensive digital subscription experience that ensures clarity throughout the investor journey, from subscription through to trading in the secondary market or holding until maturity,” he said.

Al Hussaini noted that enabling subscriptions through approved digital platforms and designated banking channels simplifies participation and creates a clear pathway for individual investors to access sovereign sukuk within a transparent investment framework.

Collaboration across financial institutions

The minister also highlighted the role of collaboration among key financial institutions in supporting the successful rollout of the programme.

According to Al Hussaini, the partnership between the Ministry of Finance, Dubai Financial Market (DFM), Nasdaq Dubai and the designated receiving banks has created an effective institutional model for managing the offering process.

He said the collaboration helps provide a secure and well-structured experience for retail investors while strengthening the readiness of the UAE’s financial infrastructure to support this category of sovereign issuance.

The programme is expected to contribute to the continued development of the country’s capital markets while creating new opportunities for retail participation in government-backed investment products.

Trading and investment opportunities

Individual investors wishing to participate in the offering may do so by obtaining an Investor Number (NIN), where applicable, and submitting subscription applications through approved digital channels after completing the required procedures.

Once allocated, the sukuk will be deposited into investors’ accounts before listing on Nasdaq Dubai.

After listing, investors will have the option of holding the sukuk until maturity or selling their holdings in the secondary market through members licensed on Nasdaq Dubai.

To support trading activity and liquidity, a market maker and liquidity providers will operate on an ongoing basis following the listing.

The Ministry said the programme offers investors an opportunity to diversify their portfolios through a trusted government-backed instrument within a structured framework that spans subscription, issuance, listing and secondary-market trading.

Nasdaq Dubai will serve as both the central securities depository and the settlement platform for the programme.

Expanding access to Shariah-compliant investments

The Sovereign Retail T-Sukuk Programme forms part of the Ministry of Finance’s broader strategy to expand participation in government-backed investment instruments and introduce innovative Shariah-compliant investment products that are accessible to a wider segment of society.

Officials said the initiative is intended to encourage greater public participation in the UAE’s financial and investment ecosystem while supporting a culture of long-term saving and investment.

The Ministry also clarified that the Sovereign Retail T-Sukuk Programme differs from the Fractional T-Sukuk and Bonds Initiative in both structure and source of securities.

Under the new programme, investors gain direct access to newly issued sovereign sukuk through a primary market subscription at par value, or 100 per cent, with a minimum investment of AED1,000.

By contrast, the Fractional T-Sukuk and Bonds Initiative, launched in November 2025, allows investors to purchase fractional interests in sukuk and bonds that have already been issued and are traded at prevailing market prices. That programme carries a minimum investment requirement of AED4,000.

The launch of the Sovereign Retail T-Sukuk Programme represents a new chapter in the UAE’s efforts to deepen retail investor participation, expand access to government-backed financial products and strengthen the nation’s investment landscape through innovative and inclusive capital market initiatives.

Keeta rolls out cooling hubs for UAE delivery riders

The move comes as temperatures across the UAE rise during the summer season, placing increased focus on worker welfare, particularly for employees and contractors operating outdoors

Rajiv Pillai
Rajiv Pillai

24 June, 2026

Keeta rolls out cooling hubs for UAE delivery riders
Image: Supplied

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Keeta, the on-demand delivery platform backed by global technology company Meituan, has expanded its rider welfare programme in the UAE with the launch of a dedicated summer support network aimed at helping delivery riders manage the challenges of working during the hotter months.

The initiative introduces a series of cooling and rest facilities strategically located across the UAE, alongside dedicated rider support areas within Keeta’s operational facilities. The spaces provide riders with access to air-conditioned environments, complimentary cold drinks, seating areas and other essential amenities designed to support hydration, recovery and wellbeing throughout the day.

The move comes as temperatures across the UAE rise during the summer season, placing increased focus on worker welfare, particularly for employees and contractors operating outdoors.

Colin Xu, head of logistics operations at Keeta UAE, said: “Delivery riders are central to Keeta’s operations and to the service we provide every day across the UAE. During the summer months, our support for riders must be practical, accessible and responsive to their needs on the ground. By expanding access to cooled rest areas, hydration points and dedicated support facilities, we are reinforcing our commitment to rider welfare and creating a safer, more supportive working environment for the people who keep our platform moving.”

Keeta said the programme forms part of its wider strategy to strengthen rider welfare and ensure delivery partners have access to facilities that reflect the realities of working through the UAE summer.

Beyond addressing practical needs such as hydration and rest, the company said the initiative is also designed to create spaces where riders can connect with colleagues, take breaks and build a stronger sense of community while on duty.

The launch follows growing industry attention on rider welfare across the UAE’s rapidly expanding delivery sector, where operators are increasingly investing in wellbeing initiatives, support infrastructure and safety measures for frontline workers.

Keeta said it will continue gathering feedback from riders throughout the summer period to help refine the programme and ensure facilities remain accessible, relevant and aligned with riders’ day-to-day needs.

The company added that the initiative reflects its long-term commitment to supporting delivery partners while maintaining service reliability for customers across the UAE.

Amazon Prime Day kicks off, discounts available across 30 categories

The sale, exclusive to Prime members, will feature millions of deals across more than 30 product categories, including groceries, electronics, home appliances, beauty, fashion and Amazon devices

Neesha Salian
Neesha Salian

23 June, 2026

Amazon Prime Day kicks off, discounts available across 30 categories
Image: Amazon

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Amazon UAE is holding its annual Prime Day shopping event from June 24 to June 30.

The sale, exclusive to Prime members, will feature millions of deals across more than 30 product categories, including groceries, electronics, home appliances, beauty, fashion and Amazon devices, the company said on Tuesday.

Amazon said the event comes as shoppers place increasing emphasis on convenience and value. New research commissioned by the company and conducted by HarrisX found that 94 per cent of UAE shoppers consider free delivery the most valuable membership benefit, while 92 per cent prioritise fast delivery.

The survey also found that 81 per cent said finding a good deal was satisfying, while 74 per cent believed it made them feel like smart shoppers.

“Life in the UAE moves fast, and our customers expect us to match that pace,” Stefano Martinelli, VP of Amazon Middle East, North Africa and Turkey, said in a statement.

The company said Prime members will be able to access discounts of up to 70 per cent on selected categories, including Amazon devices, groceries available through Amazon Now, beauty products and household goods. Electronics from brands including Samsung, Sony, Lenovo and LG, along with fashion, home appliances and toys, will also be included in the promotion.

Amazon said customers will also be able to shop international deals through its Global Store from the US, the UK and Germany, alongside discounted products available through Amazon Bazaar.

The company is also expanding incentives around the event. Prime members using the Amazon Credit Card can earn up to 6 per cent back on eligible purchases, while additional discounts will be available through participating banks.

Customers will also be able to use buy-now-pay-later services from Tabby and Tamara or opt for zero per cent bank instalment plans on eligible purchases.

Prime membership in the UAE costs Dhs16 per month or Dhs140 annually and includes benefits such as free delivery, Prime Video, Prime Gaming, Deliveroo Plus Silver membership and other partner offers.

Inside HRE Development’s winning formula: How early delivery is redefining Dubai’s real estate race

Industry dynamics that were once driven heavily by market sentiment are now being shaped by stronger regulatory frameworks, strategic urban planning, infrastructure expansion, and sustained demand from international investors

Nida Sohail
Nida Sohail

23 June, 2026

Inside HRE Development’s winning formula: How early delivery is redefining Dubai’s real estate race

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HRE Development’s early delivery of Skyhills Residences 1, completed six months ahead of schedule, is highlighting a broader shift taking place across Dubai’s real estate market, where execution, efficiency, and long-term value creation are becoming increasingly important drivers of growth.

The handover milestone reflects not only the developer’s delivery capabilities but also the changing nature of Dubai’s property sector, which has evolved from a historically cyclical market into a more mature and globally recognised investment destination.

Industry dynamics that were once driven heavily by market sentiment are now being shaped by stronger regulatory frameworks, strategic urban planning, infrastructure expansion, and sustained demand from international investors.

Developers such as HRE are increasingly aligning their strategies with this evolving landscape, focusing on consistency, quality, and sustainable value creation.

“This milestone is not just about delivering ahead of schedule,” says Mohamed Adib Hijazi, chairman of HRE Development. “It reflects the standard we are building as a company. At HRE, every decision, from planning to material selection to execution, is made with long-term performance in mind.”

Dubai continues to attract global investment interest

The project milestone comes as Dubai’s real estate sector continues to demonstrate resilience despite global economic uncertainty.

Dubai Land Department (DLD) data shows property transaction values reached Dh252bn in the first quarter of 2026, while investments exceeded Dh173bn. Foreign investment increased by 26 per cent during the period, reinforcing Dubai’s position as a preferred destination for global capital.

The market’s strength is being supported by several structural factors, including population growth, residency reforms, business expansion, and the emirate’s growing appeal among entrepreneurs, family offices, and ultra-high-net-worth individuals (UHNWIs).

These factors are contributing to a broader shift in buyer behaviour, with demand increasingly moving away from short-term speculation toward long-term ownership and end-user requirements.

Lifestyle and community development become key market drivers

The profile of today’s property buyer is also changing.

Investors and residents are increasingly looking beyond price appreciation and prioritising communities that offer connectivity, wellness, sustainability, and long-term liveability.

Projects that integrate these elements are gaining greater importance as Dubai’s residential market becomes more competitive.

Skyhills Residences 1, located in the Dubai Science Park corridor, reflects this changing demand profile. The development benefits from access to key transport links, including Umm Suqeim Street, Al Khail Road, and Sheikh Mohammed Bin Zayed Road, while future metro connectivity adds to its long-term positioning.

Rising supply pushes market toward balance

Dubai’s real estate sector is also entering a period of increasing supply, creating a more balanced market environment.

Colliers Middle East data highlights the scale of upcoming inventory, with apartment deliveries exceeding 10,000 units for two consecutive months, while nearly 1,900 villas were completed during the first quarter.

The market pipeline remains substantial, with approximately 65,000 apartments and 12,500 villas expected by the end of 2026, although some projects are likely to extend into subsequent years.

As supply expands, rental growth, while remaining positive, has started to moderate. Analysts view this as part of a transition toward a more sustainable market cycle, where performance is increasingly linked to fundamentals, quality, and demand rather than rapid price movements.

Developers face a new test of execution and quality

The changing market conditions are placing greater emphasis on developer credibility.

Competitive advantage is no longer defined solely by location or pricing. Instead, developers are being measured by their ability to deliver projects on schedule, maintain construction quality, and create communities aligned with Dubai’s long-term development goals.

For HRE, this strategy is shaping its next phase of expansion.

“Skyhills Residences 1 sets the foundation for what comes next,” Hijazi explains. “This approach will define our next chapter… where we are introducing Sakura Gardens, a residential concept centred around wellness, nature, and integrated green space, with approximately 50 per cent of the masterplan dedicated to landscaping and open areas.”

Dubai’s property sector enters a more mature growth cycle

The evolution of Dubai’s real estate market reflects a wider move toward transparency, reliability, and integrated development.

As competition increases, developers that combine strategic planning, efficient execution, and customer-focused design are expected to have a stronger position in the market.

Dubai’s long-term growth outlook remains supported by international investment, business expansion, and continued demand from residents and investors.

However, the next phase of success will depend less on rapid expansion and more on creating sustainable value.

In this more mature market environment, the ability to deliver with precision, understand changing demand patterns, and build communities for the future will define the next generation of Dubai real estate leaders.

US waives Iran sanctions, Trump warns Tehran it must abide by agreement

US Vice President JD Vance said talks with Iranian officials in Switzerland had laid a good foundation for a final peace deal

Reuters
Reuters

23 June, 2026

US waives Iran sanctions, Trump warns Tehran it must abide by agreement

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The US waived sanctions on Iran for 60 days from Monday after the first talks under a nascent peace deal, with US President Donald Trump saying he will “do what I have to do” if Iran does not stick to its side of the agreement.

US Vice President JD Vance said talks with Iranian officials in Switzerland had laid a good foundation for a final peace deal, but Iran denied it had begun discussions on its nuclear program or agreed to invite International Atomic Energy Agency inspectors back to the country.

Foreign Ministry spokesperson Esmail Baghaei said on Tuesday Iranian officials had not held a meeting with IAEA chief Rafael Grossi in Switzerland and had no plans for the UN nuclear watchdog to inspect Iran’s damaged nuclear facilities.

The two sides, trying to build on the interim deal they signed last week after more than three months of war, agreed a roadmap towards a permanent agreement within 60 days at the talks in the Swiss mountain resort of Buergenstock, mediators Pakistan and Qatar said.

Read more-Hormuz strait will be open but with transit fees, Iran envoy to Moscow quoted

They agreed on a mechanism to end fighting between Israel and Hezbollah in Lebanon, and opened a communications line to help ensure safe passage for commercial ships through the Strait of Hormuz, a vital waterway for global oil supplies that Tehran has blockaded during the war.

In the first of several steps envisaged under the agreement to provide economic relief to Iran, the US Treasury announced a waiver until August 21 on sanctions, allowing Tehran to sell oil and related products and receive payment for them.

Ali Bahreini, Iran’s ambassador to the United Nations in Geneva, said “good progress” had been made in the talks and that two working groups would be established in coming days to focus on the removal of sanctions and Iran’s nuclear activities.

He told reporters five parts of the initial deal need to be fully implemented before negotiations begin on the nuclear dossier and any role for the IAEA.

The ambassador also said Lebanon was an “unquestionable” part of the interim accord between the US and Iran, and that it includes the withdrawal of Israeli troops from Lebanon.

Officials reported a sustained lull in fighting in Lebanon under the agreement aimed at ending hostilities across the region, even as Israel said it would maintain a security zone in southern Lebanon and continue to act to “neutralise” threats against Israeli soldiers and citizens.

Israel and Lebanon were due to start a new round of talks in Washington on Tuesday.

Tanker traffic through Hormuz started to pick up on Monday, with the foreign minister of Oman affirming his country’s commitment to international law and toll-free safe passage during negotiations with Iran over administering the strait.

US-Israeli attacks on Iran and Israeli strikes in Lebanon have killed thousands of people and displaced millions. The conflict with Iran has also shaken financial markets around the world and pushed up global oil prices, which have fallen since the interim deal was reached. Crude prices fell further on Tuesday after settling 3 per cent lower on Monday.

Vance delivers upbeat assessment

Vance said on Monday that Iran had agreed to allow in nuclear inspectors and to establish mechanisms to handle its frozen assets and manage ceasefires at the talks, which he said were “a very good foundation for a successful final deal.”

The conflict with Iran has become a political liability at home for Trump and his fellow Republicans in Congress, with public opinion polls showing Americans deeply frustrated by a rise in gas prices since the war began and midterm elections looming in November. Trump also face pressures from Republicans ‌who say ⁠Iran’s nuclear program must be completely shut down.

Trump said on Truth Social on Monday that Iran will agree to have weapons inspections to ensure “nuclear honesty.”

“If Iran doesn’t live up to their agreement, or if they’re not behaving, I will do what I have to do,” Trump later told reporters.

Iranian President Masoud Pezeshkian said on X on Tuesday that the effectiveness of the talks depended on full commitment to the obligations that have been agreed and their precise implementation.

He cautioned that “statements outside the agreed text do not help advance negotiations.”

Iran has limited inspections by the IAEA since the US and Israel launched a first round of airstrikes last year, and suspended them entirely when war broke out with renewed attacks on Iran in February. It says its nuclear program is peaceful.

Iranian Foreign Minister Abbas Araqchi said on social media that Tehran had secured waivers for oil and petrochemical exports, the release of some of its frozen assets abroad and the launch of a reconstruction and development plan for Iran.

Vance said White House envoy Jared Kushner, Trump’s son-in-law, had come up with a process whereby the US and Qatar would have control over Iranian funds when they are unfrozen, and the money could be spent on US corn, soy and wheat.

“So, the money that we lift is going to go to our farmers,” Trump told reporters.

Iran’s Central Bank Governor Abdolnaser Hemmati said there was no such obligation, and that at least some of the remaining frozen funds could be used to buy other non-sanctioned goods, Iran’s Tasnim news agency reported.

Saudi tourist spending hits SAR82.7bn in Q1 as domestic travel offsets fall in foreign arrivals

Average daily room rates (ADR) across Saudi Arabia stood at SAR662 in January, up nearly 5 per cent from the previous year

Neesha Salian
Neesha Salian

23 June, 2026

Saudi tourist spending hits SAR82.7bn in Q1 as domestic travel offsets fall in foreign arrivals
Image: Getty images/ For illustrative purposes

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Tourist spending in Saudi Arabia reached SAR82.7bn ($22.1bn) in the first quarter of 2026 as total visitor numbers rose 8 per cent year-on-year to 37.2 million, with strong domestic travel helping offset a decline in overseas arrivals, according to a report by real estate consultancy Cavendish Maxwell.

Domestic tourists increased 16 per cent to nearly 29 million between January and March, accounting for 78 per cent of all visitors, while inbound arrivals fell 13 per cent to 8.3 million, the report said.

Despite representing only around one-fifth of total visitors, international tourists generated almost 60 per cent of tourism spending, contributing SAR48bn compared with SAR34.7bn from domestic travellers.

Although overseas visitor numbers declined, their total spending fell by only 7 per cent, indicating higher average expenditure per visitor.

The report, released during the Future Hospitality Summit Saudi Arabia in Riyadh, said nationwide hotel occupancy peaked at nearly 75 per cent in January before easing to 63 per cent year-to-date by May, down 1.3 per ent from the same period a year earlier.

Hotels in the kingdom’s religious tourism hubs continued to outperform the wider market.

Occupancy in Makkah reached nearly 84 per cent in January and stood at just under 73 per cent year-to-date by May, up 12 per cent from a year earlier. Madinah recorded almost 85 per cent occupancy in January, with a cumulative rate of 76 per cent by May, down 3 per cent year-on-year.

Average daily room rates (ADR) across Saudi Arabia stood at SAR662 in January, up nearly 5 per cent from the previous year, rising to SAR825 year-to-date by May, an increase of 12 per cent.

Makkah recorded the highest growth in room rates, with ADR rising 24 per cent to SAR918, while Madinah increased 5.7 per cent to SAR878. Riyadh’s ADR declined around 6 per cent to SAR771, while Jeddah fell 7 per cent to SAR635.

Key drivers for tourism

“Religious tourism is a key demand driver for Saudi Arabia, with Makkah and Madinah continuing to outperform other destinations,” Kevin Duffield, director of Built Asset Consulting at Cavendish Maxwell, said.

Saudi Arabia currently has more than 176,000 hotel rooms and is expected to add 105,500 rooms across 382 hotels by 2030 under its Vision 2030 tourism strategy. Around 18,150 rooms across 82 hotels are scheduled for delivery this year, with Makkah and Madinah accounting for about 40 per cent of the new supply.

The kingdom is targeting 150 million domestic and international visitors annually by 2030. Upcoming events including Riyadh Expo 2030 and the FIFA World Cup 2034 are expected to attract more than 42 million visitors combined.

Duffield said geopolitical tensions had weighed on international tourism demand, but rising domestic travel, particularly during Ramadan, Eid and the Hajj season, had helped support the sector.

“While uncertainty and lower international travel demand may continue to influence market performance in the short term, the combination of growing domestic tourism, sustained pilgrimage activity, and continued investment in tourism infrastructure positions the sector well for recovery and longer-term development,” he said.

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