On 18 November 2025, Merchants Capital signed a Memorandum of Understanding with Wakan Real Estate (“Wakan”) during Cityscape to explore cooperation in arranging and issuing sukuk.
Wakan is one of the Kingdom’s leading commercial and residential developers, with an outstanding record of delivering projects on time and to the highest standards. Its developments have earned the trust of buyers, tenants and partners alike, making it a natural candidate for the sukuk market.
The MoU reflects a shared ambition: to support Wakan’s financing objectives and to identify the debt capital market solutions best suited to its next phase of growth.
About Merchants Capital
Merchants Capital, the trademark of Darb Altujjar Financial Company, a Saudi capital market institution authorized by the Capital Market Authority (CMA) under license no. 18197-30, provides strategic investment banking services across debt and equity capital markets, project finance, and mergers & acquisitions, enabling corporates and government-related entities to secure capital and achieve their strategic objectives.
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