Kuwait real estate firm Oqyana, an affiliate of Sharia-compliant Investment Dar, said it would start selling property in Dubai and Bahrain.

That includes land it owns in Dubai's The World project, a collection of islands the emirate is creating off its coast in the shape of a map of the world.

Oqyana said the islands project - due to be finished by the end of 2011 - was on track.

It did not say when the sales would start or how much it expects to raise. Investment Dar said last year Oqyana could raise as much as $2.5 billion from the sale of some of its Dubai property.