Dubai Boom Spurs U-Turn by Kuwaiti Developer: Arab Credit - Bloomberg:
"Kuwait-based property developer Al Mazaya Holding Co. is reversing its strategy of shrinking activities in Dubai and may raise money from the sale of Islamic bonds after real-estate prices soared.
The company’s previous management said in June 2012 it would reduce its investments in Dubai. At the end of 2013, the value of the company’s assets in the United Arab Emirates had fallen to 32 percent of the total, from 35 percent a year earlier, according to the company’s financial statements.
“A few years ago the view was different, now I believe there’s great potential in Dubai,” Ibrahim Al Saqabi, Al Mazaya’s chief executive officer, said yesterday in an interview in Dubai. “We’ll launch several new projects this year, including some in Dubai.”"
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