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237 realty projects “on course” for completion in Dubai

The Road and Transport Authority is paying the Dubai Rail Link Consortium (DURL), the firms involved in the development of Dubai Metro, in monthly installments of Dh169 million between June and September 2011. The balance of Dh5.8 billion will be paid in equal monthly installments over a period of seven years beginning October 2011.

Tabreed bonds show investors bet on support

Islamic bonds of National Central Cooling Company, known as Tabreed, rose on speculation the provider of air conditioning services to the Dubai Metro may follow Aldar Properties PJSC in getting financial support from Abu Dhabi. Tabreed’s floating-rate $200 million sukuk maturing in July rose 13 cents on the dollar in the past month to 88 cents on Tuesday, according to Exotix Ltd, an investment bank specialising
 in illiquid bonds.