Foreign ownership of UAE listed real estate firms valued at $5.77bn

Foreign ownership of UAE listed real estate firms valued at $5.77bn

Foreign ownership of UAE listed real estate firms valued at $5.77bn

Foreign ownership of UAE listed real estate firms valued at $5.77bn

The number of shares owned by foreign investors in six UAE listed real estate companies rose to about 8.4 billion shares worth AED21.2 billion ($5.77 billion). (AFP/File Photo)

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Foreign ownership of UAE listed real estate firms valued at $5.77bn

Foreigners are allowed to own up to 49 percent of companies listed on the UAE financial markets

Updated 12 December 2020

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DUBAI: The number of shares owned by foreign investors in six UAE listed real estate companies rose to about 8.4 billion shares worth AED21.2 billion ($5.77 billion), according to a report by WAM, the UAE state news agency, citing figures from the Dubai and Abu Dhabi financial markets.

While the report did not reveal the percentage rise compared to last year, it did reveal that foreign ownership of Emaar Properties as of Dec. 9, 2020, amounted to 2.54 billion shares, or 35.51 percent of total shares.

Foreign ownership of Al Dar Properties amounted to 2.083 billion shares or 26.5 percent, while Damac Properties had 2.046 billion, or 33.825 percent, of shares owned by non-Emiratis.

Foreigners are allowed to own up to 49 percent of companies