Fund raising

20 March 2008

Dubai-based property developer Nakheel has announced plans to raise US$ 1.5 billion to fund future construction projects by way of an Islamic loan, compliant with Sharia Law. Nakheel, which has projects worth more than US$ 30 billion under construction, sold the world's largest Islamic bond, worth US$ 3.52 billion, in December 2006 to finance its projects.

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