The state-owned firm is among the developers worst hit by Dubai’s real estate crash, forcing it into a massive debt restructuring.
Dubai’s Nakheel is working with a group of banks to raise a loan for a new mall and separately planning to issue US dollar-denominated Sukuk.
The firm is considering to return to the debt market with a new public issue of US dollar-denominated Sukuk, which it could sell over the next few months. The company is also separately putting together a loan which is being coordinated Emirates NBD and will involve a consortium of local banks.
The construction of a new mall in Deira, which the company says will be the biggest in the Middle East should be completed by 2021, reported Reuters.