Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
The UAE raised $64.9 billion through bonds and sukuk issuances in 2025, as against $63.4 billion raised in 2024, registering a year-on-year increase of 2.5%, according to a fixed income market update by Kamco Invest.
The report showed that the UAE remained one of the most active fixed-income markets in the GCC during the year, supported largely by corporate issuers. While government issuance across the region declined, corporate fund-raising reached record levels, reflecting refinancing needs and continued investment activity.
Green bond and sukuk issuances from the UAE rose sharply in 2025, reaching $5.6 billion compared with $3.8 billion in the previous year, the highest level recorded in the GCC. In addition, the UAE issued $3.3 billion of perpetual instruments during the year. Perpetual instruments are debt securities with no fixed maturity date, typically issued by banks to strengthen their capital base, with issuers having the option to redeem them after a specified period.
Looking ahead, the report noted that a significant volume of debt issued during and after the COVID-19 period is set to mature over the next five years. Between 2026 and 2030, bonds and sukuk worth $171.8 billion issued by UAE entities are due for maturity. Of this amount, corporate issuers account for the bulk, with maturities totalling $136.2 billion, underlining the scale of refinancing activity expected in the coming years.
Banks represent the largest share of upcoming maturities in the UAE, with $80.9 billion of bonds and sukuk falling due over the 2026–2030 period. Real estate companies account for maturities of $11.2 billion, while the remainder is spread across other corporate sectors, according to the report.
At the regional level, Kamco Invest said the UAE ranks second only to Saudi Arabia in terms of total bond and sukuk maturities over the next five years, but differs in composition, as the majority of UAE maturities are linked to corporate issuers rather than government debt.
In its outlook for 2026, Kamco Invest expects the UAE, alongside Qatar, to see elevated levels of corporate issuance, supported by refinancing requirements and expectations of lower interest rates. The report said easing monetary conditions could encourage issuers to lock in funding early, sustaining strong activity in the UAE’s fixed income market next year.
