25.02.2011 - UAE firms plan $656 mln Islamic REITs in Malaysia, says Bursa
From Khaleejtimes.com: Two property developers from the United Arab Emirates are planning to list Islamic real estate investment trusts worth a combined 2 billion ringgit ($656 million) in Malaysia this year. The companies will be the first from the Gulf to sell Islamic REITs in the Southeast Asian nation, said Raja Teh Maimunah, global head of Islamic markets at Bursa Malaysia Bhd., which manages the country’s stock and bond exchanges. The portfolio of properties includes residential and commercial real estate in the UAE, she said. Malaysia is attracting overseas investors from the Middle East as the political turmoil in the region boosts appetite for assets in the world’s biggest market for sukuk, or Shariah-compliant bonds...............................................Full Article: Source
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