Thursday 28 September 2017

Emaar lists assets it intends to take public | GulfNews.com

Emaar lists assets it intends to take public | GulfNews.com:

"Emaar Properties, the UAE’s largest listed developer, has transferred a number of key assets to a new investment vehicle, which will then be taken public, company documents filed with the Dubai Financial Market (DFM) on Thursday morning revealed.

The assets, which include 49 units in the Burj Khalifa and two Address hotels still under construction, will be transferred to Emaar Development, a vehicle through which to list a number of Emaar’s projects on the stock market, experts say.
Emaar Development is expected to float parts of its business through an IPO later this year.
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