Wednesday 15 December 2010

Dubai's Emaar may raise stake in Amlak - chairman, UAE Industries - Maktoob News

Dubai developer Emaar Properties may raise its stake in troubled Islamic mortgage provider Amlak but has not decided by how much, Emaar's chairman said on al Arabiya television.

The United Arab Emirates' largest listed property firm may also take provisions related to Amlak in the first quarter of 2011, Mohammed Alabbar said in an interview on Wednesday.

"I believe if this is part of the solution (for Amlak) we will raise the stake," he said.

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