Emaar Properties PJSC, the developer building the world’s tallest skyscraper in Dubai, plans an initial share offering in India “in a few weeks,” Chairman Mohammed Alabbar said.
“India has done extremely well for us, and that’s why we are going public in India, probably in a few weeks,” he said in an interview at the World Economic Forum in Dubai, where the company is based. “The banking system is solid and India is still a conservative environment that suits us well.”
New Delhi-based Emaar MGF Land Ltd. plans to raise 38.5 billion rupees ($800 million) in the offering. The unit, which scrapped a $1.64 billion initial public offering in February last year, had 29 residential and commercial projects under way at the end of August.
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