Dubai's Damac said to hire Barclays, HSBC for possible sukuk

Dubai's Damac said to hire Barclays, HSBC for possible sukuk

Dubai, UAE. Photo by David Rodrigo on Unsplash

Damac Properties Dubai Co. hired banks including Barclays Plc and HSBC Bank Plc for a possible sale of U.S. dollar-denominated Islamic bonds, according to people familiar with the matter.

The second-largest listed real estate developer in Dubai is expected to hire more banks to arrange the debt sale, which may happen as soon as this month, said the people, who asked not to be identified as the matter is private. A spokesman at Damac declined to comment.

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