DAMAC Properties intends to cancel the listing of the company's shares on the Dubai Financial Market early 2022.
The businessman and Damac Real Estate Corporation, Hussain Sajwani, revealed that the company will complete the process of de-listing in the market within the next three or four months, according to Al Khaleej newspaper.
In another context, Sajwani explained that since the beginning of 2021, the real estate market in Dubai has witnessed strong performance and is likely to continue the same trend over the next two years.
He pointed out that the local market is able to absorb the volume of the current supply and the new projects that will enter in the future in light of the recovery in demand for various real estate products, whether luxury, beach or downtown Or villas, in addition to those targeting the middle income segment.
He explained that the largest percentage of the real estate supply in the emirate is controlled by only 5 major companies, while small development companies acquire a small percentage that does not affect the supply and demand equation index. Or the price curve, pointing out that the supply will not exceed 15% compared to demand during the coming period.
