Real estate sukuks reach record levels of issuance

European demand drives up volume of issuance.

Euromoney Liquid real estate March 2007 

The level of demand – and potential supply – for real estate sukuk deals has been dramatically demonstrated by two new issues over the past three months.

The deals – from Aldar Properties and Nakheel – rode high on the current global wave of demand for Shariah compliant fixed income products.

Nakheel’s deal, worth $3.52 billion, ranks as the largest ever sukuk in any asset class, while Aldar’s $2.53 billion deal was the third largest ever.

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