Al-Etihad Real Estate Company has completed the capital increase of three subsidiary companies, namely Dubai Autodrome, Surveyview and The Vittout, to a total of approximately 500 dirhams.
According to the Emirates News Agency, Khalifa Hassan Al Hammadi, Chairman of the Board of Directors of Union Real Estate, said that the company had earlier taken a decision to convert a number of subsidiaries into private joint stock companies. In preparation for its inclusion in the financial market. He explained that the main objective of this step is to highlight the real value of the company's assets and its subsidiaries, which began to bear fruit, as the company received an offer of 400 million dirhams to acquire a stake in the subsidiary Dubai Autodrome, which was recently disclosed.
and affirmed that companies operate in vital areas capable of attracting investments or cash flows, whether through listing, acquisition or sale of stakes in them.
On the other hand, Al-Hammadi said: We constantly study the real estate market and follow the indicators and we do not hesitate to seize real real estate opportunities in the market in order to achieve future value for these assets, stressing that the company has developed A clear strategic vision. The Board of Directors is working for the future of the company and very optimistic about the results.
