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Nakheel plans two REITs
- United Arab Emirates: Tuesday, December 04 - 2007 at 11:05
Nakheel, a Dubai government-owned property developer, plans to set up two real estate investment trusts next year and may sell shares in them in the UAE, London or Singapore, reported Bloomberg. The firm's chief executive officer Chris O'Donnell said the first trust, which will own about Dhs1bn ($272m) of residential properties in Dubai, will be set up in the second quarter. The second, an infrastructure and industrial trust with as much as Dhs6bn of assets, will sell shares in the fourth quarter.
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Jeff Florian, Senior ReporterTuesday, December 04 - 2007 at 11:05 UAE local time (GMT+4)
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