12.11.2010 - Gulf Sukuk recovery depends on property prices
From Bloomberg: Investor concern that Persian Gulf property prices will extend declines is denting confidence in a rebound of the regionís 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 Emiratesí biggest developer, said. Aldar Properties PJSC, Abu Dhabiís largest real- estate company, posted its biggest loss on record in the third quarter and said two days ago itís working with the emirateís government to help cover cash requirements..............................................Full Article: Source
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