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Emaar sees strong demand for $500m sukuk

Emaar Properties saw strong demand for a $500m seven-year sukuk, in the latest sign that investor confidence in Dubai is returning as state-owned firms repay their debts, Reuters has reported, citing arranging banks. Orders worth $4.65bn were placed for the sukuk from 185 individual investors, according to statistics provided by the lead banks. Abu Dhabi Islamic Bank, Standard Chartered, HSBC Holdings, Abu Dhabi's Al-Hilal Bank, Qatar's Barwa Bank, Emirates NBD, Dubai Islamic and Noor Islamic Bank were mandated on the deal.