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Gulf Sukuk recovery depends on property prices

Posted on 12 November 2010

From Bloomberg: Investor concern that Persian Gulf property prices will extend declines is denting confidence in a rebound of the region’s Islamic bond market. Dubai will need another 20 months to absorb an oversupply of homes and offices, Mohamed Alabbar, the chairman of Emaar Properties PJSC, the United Arab Emirates’ biggest developer, said.
Aldar Properties PJSC, Abu Dhabi’s largest real- estate company, posted its biggest loss on record in the third quarter and said two days ago it’s working with the emirate’s government to help cover cash requirements……………………………………….Full Article: Source

 
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Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


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