Dubai’s Nakheel Properties plans to issue more debt in June, the developer said on Monday, after it posted a 30 percent rise in earnings in 2011 and forecast a recovery in the emirate’s real estate market this year.
Chairman Ali Rashid Lootah told reporters that Nakheel would likely issue a third tranche of an Islamic bond, or sukuk, in two months’ time. It aims to issue the tranche to trade creditors in part settlement of claims of 5.3 billion dirhams………………………………………..Full Article: Source