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19-03-14

Dubai Emaar to be listed on Dubai, London

(MENAFN) Dubai"s Emaar Properties intends to list its shopping malls and retail unit in Dubai and London, according to Arab News. The company"s chairman Mohamed Alabbar said: "This will be a dual listing. We are a Dubai company so we have to be in Dubai, but we will list in London. I would like to do this quickly and am shooting for before Ramadan." The listing is planned to be on Nasdaq Dubai, the smaller of the emirate"s two stock exchanges. An Emaar spokesperson said: "Emaar is planning a proposed secondary listing of up to 25 percent of the shares of Emaar"s malls business in the next one year, depending on market conditions."