Emaar announced that the shares of foreign ownership which was previously 49 percent is now amended to 100 percent, following shareholders and Securities and Commodities Authority. The announcement was made on Thursday to the Dubai Financial Market where the company’s shares are traded.
“All the company’s shares are nominal, and there is no minimum shareholding for UAE nationals and GCC nationals in the company, and there is no shareholding limit for non-UAE nationals,” the official notification stated.
Last month, Emaar Properties moved further on closing its deal to acquire Dubai Creek Harbour from Dubai Holding.
“It reflects the company’s ongoing strategy to maximise the core business, while continuing to offer outstanding value for our shareholders,” a spokesperson of the company said.
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