Sime Darby raises $43 million in sustainable Islamic finance

Sime Darby Property has raised $43 million through the issuance of a sustainability sukuk.

The sustainability sukuk was part of a $130 million sukuk issuance by the Malaysian real estate developer. A sukuk is a Shariah-compliant structure which provides bond-like returns. The issuance was oversubscribed by more than eight times, Sime Darby said. 

Managing director Datuk Azmir Merican said the sukuk would “underpin our transformation from a focused property developer to a holistic real estate enterprise, in tandem with our 2030 Sustainability Goals.”