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Property developer to issue Sh3bn Sukuk bond
The debate on whether real estate development and built sector in Kenya should be regulated is not new and the sector is also no stranger to regulation. PHOTO | SHUTTERSTOCK
Kenya is set for its first Sukuk bond after the Capital Markets Authority (CMA) approved a Sh3 billion issuance by a firm looking to use the proceeds to develop institutional houses.
The CMA said that it has granted Linzi Finco Trust the go-ahead to float the Shariah-compliant bond, but did not give a timeline of when the issuance is expected to hit the market.
