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Kuwaiti developer does U-turn as Dubai real estate booms

Al Mazaya reverses its strategy of shrinking activities, may issue sukuk

Real estate rally: Property prices in Dubai have risen as much as 43 per cent last year as the economy rebounded from a credit crunch. - PHOTO: BLOOMBERG

[DUBAI] 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 that it would reduce its...

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