IslamicFinance.de

Rania El Gamal reported on 23 April in Arabien Business that Kuwait's Abyaar Real Estate Development is in the process of getting a credit rating to help it sell between USD 250 to USD 500 mn of Sukuk for general expansion. Abyaar is talks with NBD Investment Bank, a unit of Emirates NBD. Merill Lynch is advising on the sale for another specific project in Dubai about USD 500 mn.

Abyaar has other financing arrangements with Dubai Islamic Bank, Emirates Islamic Bank, Kuwait's Global Investment House and Rasameel Structured Finance.

Abyaar has said it wants to expand in Saudi Arabia, Qatar and is seeking opportunities in Turkey, Malaysia and Singapore.

Marzouq al-Rashdan is vice-president of Abyaar.

Source: http://www.arabianbusiness.com/517396-kuwaits-abyaar-seeks-credit-rating...

Parag Deulgaonkar reported 22 April in Business 24/7 that Kuwait-based Abyaar Real Estate Development is to launch a USD 1 bnsukuk issue before year-end to finance its projects and will dual list its share on the Dubai Financial Market, for which it has appointed NBD Investment Bank as financial advisor and placement agent.

Marzooq Al Rashdan is Vice-Chairman and Managing Director of Abyaar

Source: http://www.business24-7.ae/cs/article_show_mainh1_story.aspx?HeadlineID=...