Emaar Properties, the Dubai-based developer, raised $450m on Wednesday from the sale of convertible bonds in a deal that boosted the Middle East real estate sector after two years of plunging prices had made it off-limits to all but the hardiest international investors.
It has also re-opened the capital markets to potential supply from other Dubai-based companies, said bankers."This was a huge day for Dubai. On Tuesday everybody was asking how strong demand would be. On Wednesday morning the lights went amber. After this, its flashing green," said Julian Hall, head
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