DUBAI, UAE, Nov. 3, 2026 /PRNewswire/ -- A team from global law firm Greenberg Traurig acted as United Arab Emirates (UAE) and English law counsel to Arada Developments LLC (Arada) in connection with its US$400 million sukuk issuance due in 2031.

Arada's new sukuk issuance was listed on the London Stock Exchange's International Securities Market and issued under its updated sukuk programme. It follows a consent solicitation introducing an optional dissolution call right into the terms and conditions of its existing sukuk issued in 2022 and a US$169 million tender offer for the existing sukuk. Greenberg Traurig advised on all of these transactions, as well as Arada's previous US$450 million sukuk, which was named UAE Deal of the Year and Hybrid Deal of the Year at the Islamic Finance News Awards 2025.

Arada is a real estate developer founded in 2017 and headquartered in Sharjah. It develops residential and mixed-use communities in Sharjah and Dubai, including Aljada, Masaar, Jouri Hills, Armani Beach Residences, and W Residences at Dubai Harbour. Arada's activities also span retail, education, and hospitality. Its debut sukuk in 2022 was listed on the London Stock Exchange's International Securities Market and subsequently on Nasdaq Dubai in 2023.

The team from Greenberg Traurig's Dubai office was led by Capital Markets Shareholder Alex Roussos and included Senior Associates James Osun-Sanmi and Sana Siddiqui, Associate Olga Efstathiou, and Paralegal Dahlia Taqi, as well as Practice Group Attorney Katie Phillips in London.

"We are delighted to have advised Arada on this strategic transaction, which marks an important milestone in the company's capital markets journey. The issuance builds on a series of successful transactions for Arada, and it has been a pleasure to advise the company at every step. The latest issuance was one of the most challenging in terms of execution and implementation, as it was conducted in testing markets and required coordination of two separate liability management exercises. The transaction's success demonstrates both the strength of investor demand and Arada's growing impact on the regional real estate market. Congratulations to all parties involved!" Roussos said.

Greenberg Traurig launched in the Middle East in 2023 with offices in Riyadh, Kingdom of Saudi Arabia, and Dubai, adding an office in Abu Dhabi in 2025. The firm has established itself in the industries and business sectors most active in the Middle East, including real estate; infrastructure and transportation; energy and natural resources; hospitality; finance and restructuring; mergers and acquisitions; private equity; private credit; sports and entertainment, including venue, talent, entertainment, and licensing; capital markets; and arbitrations and disputes.

Greenberg Traurig's Abu Dhabi office is a branch of Greenberg Traurig, P.A. Greenberg Traurig's Dubai office is operated by Greenberg Traurig Limited. Greenberg Traurig's Riyadh office is operated by Greenberg Traurig through Greenberg Traurig Khalid Al-Thebity.

About Greenberg Traurig: Greenberg Traurig, LLP has approximately 3,200 lawyers across 51 locations in the United States, Europe, the Middle East, Latin America, and Asia. The firm's broad geographic and practice range enables the delivery of innovative and strategic legal services across borders and industries. Recognized as a 2025 BTI "Best of the Best Recommended Law Firm" by general counsel for trust and relationship management, Greenberg Traurig is consistently ranked among the top firms on the Am Law Global 100, NLJ 500, and Law360 400. Greenberg Traurig is also known for its philanthropic giving, culture, innovation, and pro bono work. Web: www.gtlaw.com.

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SOURCE Greenberg Traurig, LLP