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Zepth is in talks with investors to raise its first funding round in order to expand in the Americas, as well as deeper in India and the Middle East. The company's project manager app has over 40,000 downloads in India and is used by over 500 projects and 8,000 daily users.
The 10-year sukuk was priced with a 4.875% coupon rate and is amongst the highest price tightening of any corporate issuance in 2023
The issuance forms part of a $2 billion financing programme by Aldar Investment Properties to support its growth agenda and sustainability commitments.
Aldar group revenue in 2022 rose to Dhs11.2 billion, up 31 per cent year on year
Faisal Falaknaz takes on acting CFSO role in addition to being CFO of Aldar Investment