Emaar Malls IPO Central to Dubai’s Retail Ambitions - Middle East Real Time - WSJ:
"Home to some of the world’s largest and most extravagant shopping malls, Dubai in the past decade has established itself as the Middle East’s de facto capital of consumerism. Central to Dubai’s policy of trying to lure shoppers from across the region and beyond stands Dubai Mall, a 12 million square feet spending oasis in the shadow of the world’s tallest building.
Its owner, Emaar Properties, now feels the time is ripe to take advantage of the rising levels of tourism and retail spending in the emirate by listing at least 15% of the business that owns Dubai Mall, details of which were announced earlier on Sunday.
“The malls group is the cornerstone asset within the Emaar Properties Group and partially listing it should crystallize its value on public equity markets,” says Mohammad Kamal, research director at Dubai-based Arqaam Capital."
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