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FINANCIAL NEWS
UAE’s Emaar unit sales hits six-month high
17 Mar 2014
(MENAFN) Emaar Properties PJSC logged its highest unit sales since September, as the developer of the world’s tallest skyscraper plans a USD2.45 billion share sale of its shopping malls to reward stockholders, Daily Star reported.
The shares grew 6.8 percent, the most since September, from USD2.72 to USD2.51 Dollars, before trading at USD2.48.
The total of USD2.2 billion to USD2.45 billion were generated from the public offering will primarily be distributed to shareholders as dividend.
The developer got an investment grade rating last month for the first time in four years at Standard & Poor’s, as Dubai’s property market grew in the middle of an economic recovery.
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