A spate of bond issuances ushered in 2026, as the Gulf joined a global rush into debt markets.
The UAE, in particular, is getting more creative: In a vote of confidence for ESG investments, Emirates NBD issued a dual-tranche blue and green sustainable bond — billed as the Gulf’s largest-ever blue bond. (A blue bond is tied to ocean and water-related investments; green ones are more related to climate.) Both the $300 million blue tranche and the $700 million green issuance saw tighter-than-expected spreads, pointing to investor appetite for water and energy projects in the region, Enterprise reported. Meanwhile, Aldar, Abu Dhabi’s largest property developer, priced a $1 billion hybrid note issuance that was oversubscribed.
This year is expected to be another busy one for borrowing as several Gulf nations forge ahead on ambitious diversification drives. Although activity may lose some of the velocity of 2025, a strong issuance pipeline and favorable funding conditions indicate the window for tapping debt is not yet closed, according to Fitch Ratings.