Dubai Property Frenzy Sets Developers on a $6 Billion Debt Spree

Property developers in the United Arab Emirates are raising billions through a growing arsenal of funding tools - from Islamic bonds to private credit - as they ride one of the Gulf country’s longest real estate booms in years.

Data compiled by Bloomberg show dollar bond and sukuk issuance alone has grown more than twelve-fold to $6 billion since 2021, underscoring how widely developers have accessed the market in a short time.