Dubai Sustainable City Developer SEE Holding Considering 2024 IPO - Bloomberg
SEE Holding, which developed the Middle East’s first residential community to achieve net zero, is considering an initial public offering of its business including The Sustainable City entity, according to people familiar with the matter.
The firm, which specializes in sustainable developments, climate change investments and sustainable engineering, is in talks to select international and local banks as advisers for the potential listing that could happen as early as next year, the people said, asking not to be identified as the information is private.
SEE Holding plans to include its engineering, design and advisory units in the listing, as well as its sustainability city development business, the people said. Details such as the venue, size and timing of the deal are still being discussed and may change, they said.
Under The Sustainable City brand and via its Diamond Developers entity, SEE Holding is building residential communities which are compliant with the Paris Agreement that aims to limit global warming. In Dubai, their first sustainable community generates its own power with about 500 villas fitted with solar panels. It also has 11 biodome greenhouses and an urban farm running the full length of the development.
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