SHARJAH, 30 May 2005 — Emirates, the airline owned by the government of Dubai, is confident that its $550 million (two billion dirhams) Islamic sukuk bond issue in June would get a good response, after successfully concluding roadshows in Dubai and Abu Dhabi in the UAE as well as Kuwait and Bahrain. The money will be used to finance an engineering centre, which is already under construction at a cost of 1.3 billion dirhams. It will be ready early in 2006. The rest of the money, 700 million dirhams, will be spent on a new group headquarters for the airlines will be ready by end of 2006. “We have embarked on a long, major expansion of our fleet, route network and facilities, which we will be financing both from local and international markets. Islamic finance adds a new dimension to our policy of diversification of financial resources,” said Emirates Chairman Ahmad ibn Saeed Al-Maktoum.