Emirates REIT IPO a Boost to Dubai, But No Blockbuster Listing - Middle East Real Time - WSJ

Emirates REIT IPO a Boost to Dubai, But No Blockbuster Listing - Middle East Real Time - WSJ:



"Emirates REIT, a Dubai-based real estate investment trust, said on Tuesday it plans to raise at least $136 million in a share listing on the Nasdaq Dubai, making it the first such vehicle to go public in the United Arab Emirates.



The move appeared to be a boon for a market that hasn’t seen new listings in years. It also came amid an apparent uptick in IPO activity from companies based in the U.A.E. Yet despite heady rises in stock prices last year – the Dubai Financial Market index more than doubled – local markets have yet to attract listings by the commercial giants investors most covet."



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