Riyadh — Riyad Capital has successfully issued a $133.3 million (SAR 500 million) Sukuk for Sumou Global Investment Company, underscoring strong investor appetite for Sharia-compliant instruments tied to Saudi Arabia’s expanding real estate sector.
The Sukuk, which is senior secured, carries a 3-year maturity and offers a quarterly return of 8.5%. Initially targeted at $80 million (SAR 300 million), the issuance was increased to $133 million after demand nearly doubled the offering size. Both individual and institutional investors participated, reflecting robust confidence in the asset class.
Riyad Capital acted as the sole arranger and bookrunner of the deal. CEO Abdullah Alshwer emphasized that the strong subscription levels highlight continued investor trust in the Kingdom’s property market, a vital pillar of Saudi Arabia’s Vision 2030 diversification strategy.
Abdulrahman Al Qahtani, CEO of Sumou Global Investment, said the issuance not only diversifies funding sources but also supports the company’s expansion in land development, infrastructure, mixed-use, and hospitality projects. He added that the deal sets a benchmark for future Sukuk offerings by the firm.
Established in 2022 as a subsidiary of Sumou Holding Company, Sumou Global Investment has rapidly positioned itself as a key developer aligned with national economic transformation goals.
Globally, the Sukuk market is forecast to grow strongly in 2025. According to S&P Global, total issuances are expected to reach $190–200 billion, with an additional $70–80 billion in foreign-currency Sukuk. This trajectory signals continued global demand for Islamic finance instruments, with Saudi Arabia emerging as a leading hub.
