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Aldar to raise over $500m in bond offering: Leading property developer in the UAE capital city, ALDAR Properties contemplates raising over $500 million (Dh1.84 billion) in a bond offering. Thus they became the first real-estate developer in the UAE to test the real estate market after property prices slumped, according to a report a banker involved in the deal said.
Aldar is the developer behind Ferrari-branded theme parks. Real-estate firm in Abu Dhabi will be "guaranteeing a potential bond issue," which will be offered by a special purpose vehicle, the company said.
Abu Dhabi's government and state-owned Mubadala Development Co raised about $4.75 billion by selling five-year and 10-year bonds last month as the credit markets opened up for borrowers from the region.
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