Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Tilal Development announces first sukuk in Oman  Join our daily free Newsletter

MENAFN - Muscat Daily - 17/11/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Muscat Daily) Tilal Development Company, the real-estate firm that has been credited with the inception of the Muscat Grand Mall (MGM) project, announced its intention to raise RO53mn by way of sukuk.The first such issue of sukuk - an Islamic debt instrument - in Oman will put into motion plans for expansion of the complex that houses MGM, a press release said.Commenting on this announcement, Hassan Jaboub, general manager of Tilal Development, said, ''These are very exciting times for us. The Muscat Grand Mall, our finest venture has seen unparalleled success and it is only natural for us to move forward the expansion way,''Discussing the instrument, Jaboub said, ''67,000 sq m of shopping area at Muscat Grand Mall are fully leased and already operational. Additionally, owing to demand and market interest in our project, the expansion was an effortless decision."Towards the same, we are also glad to be pioneering the sukuk market in Oman and hope that it will grow exponentially here from.''Tilal Development is a special purpose vehicle (SPV) formed by Al Madina Group to execute real-estate projects in the sultanate. Since its inception, it has seen widespread success with regard to its commercial projects and residential ventures, building a strong reputation for itself within the development industry.

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help