Q1. (a) ABC developer is considering a sukuk instead of a conventional bond to finance an apartment complex in Bandar Sungai Long. Construction will take three years. The developer intends to lease (not sell) the units. Given the location, there should be no difficulty in getting tenants. Required: (i) Outline an appropriate sukuk structure for this project (with an accompanying diagram). (18 marks) (ii) What underlying Islamic contract(s) would you propose? Justify. (6 marks) (iii) In what way(s) would the financing you propose in (i) and (ii) above, could be better than conventional bonds? (6 marks)