Company targeting UAE real estate deals to list in London | ZAWYA MENA Edition:
A company looking to raise an initial £1 million ($1.3 million) on the London Stock Exchange on Thursday has been created to target property deals in the United Arab Emirates with a value of up to 300 million dirhams ($81.7 million).
A prospectus document for MENA Land Plc published ahead of the shell company's planned flotation on Thursday said that once the costs of its listing is deducted, it will have £710,000 that it intends to use to target and do diligence on potential property deals worth between 30 million and 300 million dirhams.
The prospectus states that the firm is looking to “capitalise on the widespread opportunities for value creation which the directors believe currently exist in the real estate sector in the UAE".
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