An investment conglomerate owned by Dubai’s ruler plans to list a portfolio of residential property assets on the local bourse, seeking to capitalize on the emirate’s real estate boom.
Dubai Holding is planning to bundle the portfolio as a real estate investment trust, according to a statement on Monday. The firm plans to offer about 12.5% of Dubai Residential REIT in the deal.
The entity manages 35,700 residential units across Dubai, and will rank among the largest of its kind in the region upon listing. Its gross asset value of 21.6 billion dirhams ($5.88 billion) is almost double the combined ...
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