ABU DHABI: Aldar Properties, Abu Dhabi’s largest property developer, has hired five banks to arrange the sale of a benchmark-sized Islamic bond, or sukuk, to refinance debt, three banking sources aware of the matter said.
The proposed bond sale would be Aldar’s first since it completed its Abu Dhabi government-backed merger with Sorouh Real Estate in June to create the second-largest listed property firm in the UAE and one of the biggest in the Middle East, with assets of $13bn. Reuters
