Dubai’s property developer The First Group in talks for financing

The firm is looking at potentially issuing US dollar-denominated sukuk



The First Group, a Dubai-headquartered developer and real estate investor, is considering different financing options, a company’s spokeswoman told Reuters in an email.

According to a financial source familiar with the matter, the firm is looking at potentially issuing US dollar-denominated sukuk, or Islamic bonds.

“The First Group is currently considering different financing structures in order to explore potential opportunities currently available in the region,” said the spokeswoman.

“Given the confidential nature of these conversations we are not able to disclose the exact details currently under discussion,” said the spokeswoman.

The First Group specialises in hotel investments, according to its website.