Dissent upsets court for Dubai investors

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“We know the company needs the money – but we need it, too.”

That was the refrain of one investor, summing up the attitude of many, as shareholders staged an unprecedented walkout at the annual general meeting of Dubai’s largest real estate company this month.

Emaar’s AGM has always provided fireworks, even during the good times when property values were rocketing. But with the credit crunch having demolished the real estate market, shareholder after shareholder grabbed the microphone to plead for a dividend payout.