Dubai’s Emaar shares hit three-month high as chairman Mohamed Alabbar stays on | The National:
"Emaar Properties shares climbed to the highest in almost three months after chairman Mohamed Alabbar was re-elected at a shareholders meeting, ending months of speculation the company’s founder may shift roles.
The developer of Burj Khalifa in Dubai, the world’s tallest tower, rose 5 percent at 10.54am. to Dh7.82, the highest since Januaru 19. Emaar was the biggest gainer on Dubai’s DFM General Index, which increased to 4,026.26, the strongest level in more than four months.
The chairman was re-elected by shareholders at the meeting yesterday, who also approved the reduction of the board to 10 members from 11 and voted to allow Emaar board members to continue their involvement in other real estate companies. The UAE’s largest developer will pay Dh1.07bn in dividends for 2014 after shareholders approved a payout of 15 fils a share."
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