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Islamic Finance Briefing - Categorized | Bonds (Sukuk), Emerging Trends more

Nakheel bases $1 bln Sukuk on seabed in Gulf, People say

Posted on 22 September 2011

Nakheel PJSC, the Dubai government- owned developer that issued Islamic bonds last month, based 3.8 billion dirhams ($1 billion) of sukuk on a seabed off the emirate’s coast, two people familiar with the transaction said.
The underlying assets are plot 502 in the Persian Gulf and plot 513 in the desert, the people said, declining to be identified because the information is confidential. Property, which typically back sukuk, is leased out and payments to investors are usually in the form of rental income or profit……………………………………….Full Article: Source

 
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