Real Estate
Dubai Real Estate Firms Explore Islamic Bonds Amid Boom
Dubai’s property boom — which has driven a 70% surge in prices over the past four years — also faces growing headwinds.
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Two Dubai-based real estate firms are preparing to tap Islamic debt markets, aiming to capitalize on strong demand for property in the city.
Sobha Realty has been gauging investor interest in the United Arab Emirates and London ahead of a potential dollar-denominated sukuk, according to people familiar with the matter. The firm will likely use proceeds to buy land in Dubai, the people said, requesting anonymity to discuss confidential information.