Dubai Ruler’s Firm Considers New REIT Amid City’s Housing Boom

Dubai Holding, a sprawling investment conglomerate owned by the emirate’s ruler, is considering setting up a real estate investment trust to capitalize on the city’s property boom, according to people familiar with the matter.

The firm has lined up banks including Citigroup Inc., HSBC Holdings Plc and Emirates NBD Capital for the property trust offering, the people said, asking not to be named because the information is private. Deliberations are still at an early stage and decisions on the vehicle’s size haven’t been finalized, the people said.