Qatar’s Ezdan Holding gets shareholder nod to raise $2b through sukuk

DUBAI: Qatar’s Ezdan Holding said on Tuesday it received shareholder approval to raise $2 billion (Dh7.34 billion) through the issuance of sukuk.

A real estate developer founded by members of the ruling Al Thani family, Ezdan could issue in dollars or in other currencies and the offering could be through one or a series of Islamic bonds, it said in a bourse filing. The developer did not elaborate on the tenure or timeframe of the sukuk issue.

In October, it was announced the firm had raised $500 million through a Sharia-compliant loan of five years duration.