Dubai – Mubasher: Nakheel Properties does not consider or plan to launch an initial public offering (IPO) on UAE stock markets, or issue any bonds or sukuk, Al Khaleej newspaper reported.

The developer’s projects under construction stand at a total value of AED 13.5 billion, the company’s chairman Ali Rashid Lootah said.

The total value of projects is expected to rise to AED 25.5 billion in 2017, and the company is expected to award new contracts worth AED 12 billion.