Islamic Finance 

UAE’s Emaar Properties hires banks for possible 10-year dollar sukuk

| 03 September, 2019
UAE’s Emaar Properties hires banks for possible 10-year dollar sukuk
Photo: A logo of Dubai's Emaar Properties, builder of the world's tallest tower, is seen at an under-construction building, in Dubai, UAE March 3, 2016. REUTERS/Ahmed Jadallah

UAE’s Emaar Properties has hired banks to arrange investor meetings for a possible 10-year U.S. dollar sukuk, it said in an exchange filing on Tuesday.

Standard Chartered Bank will coordinate the deal.

Dubai Islamic Bank will serve as Shariah advisor, and Deutsche Bank, Emirates NBD Capital, First Abu Dhabi Bank, Mashreq Bank and Sharjah Islamic Bank will be joint lead managers and bookrunners.  

The investor meetings will be held in Singapore, Hong Kong and London starting September 6.

Emaar is 29.22 per cent owned by the Investment Corporation of Dubai.

It is listed on the Dubai Financial Market.

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