The current price for Sukuk issued by Nakheel Properties for commercial creditors as part of its restructure scheme, which began at the end of 2009, has risen to AED 112 at the present time, revealed Nakheel Properties Board Chairman Rashed Lootah, adding in a statement to Al Khaleej newspaper that the rise in Nakheel’s Sukuk affirms investors’ growing confidence in the firm’s financial and operating positions as well as in its achievements over the past four years, since the announcement of the restructure scheme and its future outlook.

Nakheel succeeded in closing its restructure file in less than four years after paying nearly AED 7.9 billion to creditors, four years ahead of schedule, thus surpassing all challenges and hurdles that it has come face to face with since the global financial crisis. This step has qualified Nakheel for a top position in Dubai’s property development market.

On another note and according to Reuters, the CEO of the Dubai government-owned developer, Sanjay Manchanda, revealed that the Company was looking at a number of options to raise funding, including an IPO.

"The market is definitely very receptive to Dubai IPOs now. The success of Emaar will be an encouraging sign for us. Should we decide to list shares, the market will receive it well," Manchanda said in Cityscape event in Dubai, noting that no advisors have been appointed at this stage.