A roadshow for Dubai Investments Park Development Companys sukuk began today (9 February) in Dubai.
It will move to London on 10 February, before concluding in Singapore on 12 February. If enough interest is generated among investors, an unsecured US dollar-denominated sukuk transaction could follow.
Dubai Investments Park runs a residential, commercial and industrial property development in the emirate.
Sukuk issuance is expected to grow in 2014, particularly as property developers look to raise more money to fund Expo 2020-related projects. Dubai won its bid to host the Expo event in November 2013.
The emirate is also positioning itself as an Islamic finance hub, encouraging more issuers to list sukuk on its exchanges.
On 5 February, Dubai-based property developer Emaar Properties announced the dual listing of a $500m sukuk on the Nasdaq exchange.
The sukuk, which matures in 2016, was originally issued in 2011. Emaar has previously listed on Nasdaq Dubai, having issued a seven-year, $500m sukuk in 2012.
Since the beginning of 2013, Nasdaq Dubai has listed 10 sukuk with a total nominal value of $6.1bn.