Nakheel plans sukuk sale and mall financing

Nakheel,

the developer of the palm shaped islands off Dubai, is working with a group of banks to raise a loan for a new mall and, separately, it is planning to issue US dollar-denominated sukuk, sources familiar with the matter said.

The company is planning a new public issue of US dollar-denominated sukuk, which it could sell over the next few months, said the sources. Nakheel said it does not comment on speculation. Separately, the company is putting together a loan to back construction of a new mall in Deira. (Reuters)