Dubai’s Samana Plans Sukuk, IPO as Property Boom Spurs Deals

Dubai’s Samana Developers plans to tap Islamic debt markets for the first time, joining a growing list of real estate firms seeking to capitalize on the emirate’s longest running property boom.

Samana intends to issue a sukuk of around $300 million by the end of the first quarter of next year, Chief Executive Imran Farooq said in an interview.