Abu Dhabi’s largest real estate developer Aldar Properties Has launched $500 million in 10-year green sukuk, an arranging bank document revealed on Wednesday.

The sustainable Islamic debt was launched at 110 basis points over U.S. Treasuries, narrowing from guidance of 140 BPS over the same benchmark released earlier in the day, the document said.

The debt sale, which attracted more than $1.90 billion in orders, is being carried out under Aldar Investment Properties’ $2 billion trust certificates programme, the document added.

Proceeds from the sale of sustainable Islamic debt, which is expected to priced later in the day, will be allocated by AIP to finance, refinance and invest in certain green projects.

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The developer has picked HSBC and Standard Chartered Bank as joint global coordinators, while ADCB, ADIB, Dubai Islamic Bank, Emirates NBD Capital, FAB, Mashreq and Morgan Stanley are working on the deal as joint lead managers and joint bookrunners, the document showed.

Aldar is 25%-owned by sovereign wealth fund Mubadala and 26%-owned by International Holding Company, part of a business empire overseen by Sheikh Tahnoon bin Zayed al-Nahyan, the UAE’s national security adviser and brother to the president.

Aldar also sold $500 million in 10-year green sukuk in mid-may last to fund project eligible under its green finance framework.