The debt management office at the Saudi Ministry of Finance has announced a Sukuk issuance in the domestic market with a 30 year maturity. It said it has successfully launched SUKUK issuance in the local market for 30 years, maturity 2049. According to the Saudi Press Agency (SPA), this is the first time in the history Saudi Arabia for such an issuance. This additional reference point would be valuable for long-term financing pricing in Saudi Arabia as a whole; it will support developmental and infrastructure projects, as well as public and private sector debt issuances. This issuance is also expected to be a reference point to price mortgage and savings products by having it as a risk-free point on which price models are based on. This issuance would also provide a new investment product in the local market for a new investor base such as pension funds, endowments and insurance companies in line with what is being applied in the developed markets, SPA reported. The large demand for the issuance of 30 years, equivalent to 9.247 billion riyals, which is close to 80% of the total April issuance, echo the confidence in the Saudi economy by proving that investors believe in the vision of the kingdom.