Middle East Economic Survey
Dubais Emaar Raises $500Mn In Sukuk
Dubai-based Emaar Properties announced on 28 January that it had raised a total of $500mn through the sale of Islamic bonds (or sukuk) at a yield of 8.5%. This first UAE sukuk of the year was oversubscribed. The five and a half year sukuk, issued to support its general capital requirements, attracted around $1.7bn in bids, according to Reuters. The transaction, which was structured under al-ijarah...