UAE real estate investment trust plans IPO | Arab News — Saudi Arabia News, Middle East News, Opinion, Economy and more.:
"The UAE’s first real estate investment trust plans to sell shares in an initial public offer on the Nasdaq Dubai bourse before the end of this year, three people aware of the plan said.
Emirates REIT, which was formed in 2010 and complies with Islamic investment principles, has income-generating assets worth AED770 million ($210 million).
REITs directly invest in properties and distribute profits as dividends.
Dubai Islamic Bank (DIB) owns 35.3 percent of the company, while state-owned conglomerate Dubai Holding owns 31 percent through two of its units, according to its website. "
'via Blog this'
No comments:
Post a Comment