The value of Nakheel’s Islamic bond, or sukuk, is undervalued in the marketplace, the company’s chairman said.
The Dubai-based property developer, which completed a complex Dh59 billion debt restructuring last month, will issue the final tranche of its $1.63 billion (Dh5.98 billion) Islamic bond by the end of 2011 and also expects to make a profit for the second consecutive year, Ali Rashid Lootah, Nakheel’s Chairman, said following the opening ceremony of the Cityscape Global property exhibition……………………………………….Full Article: Source