The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
DUBAI / WAM
Nasdaq Dubai on Sunday welcomed the listing of $400 million Sukuk by Damac Real Estate Development Limited (DRED).
The listing on the region’s international exchange supports Damac Properties’ capital raising programme for general corporate purposes and its ongoing growth strategy, as it continues to extend its footprint in the Middle East and beyond with projects in the UAE, Saudi Arabia, Jordan, Lebanon and Oman as well as the UK.
The sukuk was sold to investors in the Middle East, Europe and Asia reflecting Damac Properties’ international profile.