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22-04-14

Deyaar Development raises foreign ownership to 25 percent

(MENAFN) Dubai's Deyaar Development said that it was granted approval from local authorities to increase foreign ownership cap to 25 percent, Arabian Business reported. Currently, GCC investors can own up to 49 percent of Deyaar's shares, while those from outside were not allowed to buy any stake. Following the approval by the Dubai Financial Market, foreign investors can now own up to 25 percent of Deyaar. Investors from the UAE have an unlimited share allocation as long as the percentage of shares remains at 51 percent and above.