The pricing of the five-and-a-half year Islamic bond or sukuk, is expected to be on Thursday, a document from the source said. Benchmark bonds are typically at least $500 million in size.
Two other market sources said market talk was of an 8.5 percent yield. One of the sources said the bond would be worth $500 million.
Emaar picked HSBC, RBS and Standard Chartered to arrange fixed income meetings ahead of a possible bond issue, the developer said last week.
The meetings for the proposed bond issue began on Jan. 21. The property market in the United Arab Emirates suffered in the wake of the global financial crisis as developers overstretched themselves in the pursuit of ambitious projects.
Dubai’s ruler has a 31 percent stake in Emaar which built the Burj Khalifa. The company issued a five-year $500 million convertible bond last year with coupon of 7.5 percent to refinance short-term liabilities.
