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FINANCIAL NEWS
UAE- Manazel plans to list in ADX in 2012
20 Mar 2012
(MENAFN) Manazel Real Estate’s chairman, Mohamed Muhana al-Qubaisi, said that the company is eyeing a listing in the Abu Dhabi bourse in 2012, reported Reuters.
Al-Qubaisi said that as market confidence is on the rise, 2012 would be the right year for such a move. He added that the company had already fled for approvals from regulators.
It is worth mentioning that the Abu Dhabi-based developer reported a sixty percent year-on-year hike in profits of 2011, which amounted to USD98.3 million. The company’s total assets stood at USD1.39 billion by the end of last year.
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