Thursday , December 13 2018

Emaar expects to pay special dividend

RIYADH / Reuters

Emaar Properties expects to pay a special dividend to shareholders by December or January from proceeds of a partial listing of its real estate business, the property developer’s chairman said on Tuesday.
Dubai’s largest listed property developer had said on Sunday it expects to list 20% of Emaar Development. It has received shareholder approval to list up to 30%.
“We suggested 20 percent looking at what kind of value we’re getting out of the whole IPO (initial public offering),” Emaar Chairman Mohamed Alabbar said at a Riyadh press conference.
“The 20 percent looks reasonable and then we’re estimating that we’ll be able to do that and take the 20 percent and distribute a good chunk of it to our shareholders I hope by December or January.”

About Admin

Check Also

DLD announces 3rd Gulf Real Estate Awards 2019

Dubai / Emirates Business Dubai Land Department (DLD) and Awards International announced the launch of ...

Leave a Reply

Your email address will not be published. Required fields are marked *