Emaar plans to increase foreign ownership to 100%
The Board of Directors of Emaar Properties recommended canceling the foreign ownership limit in the shares of the real estate development company listed on the Dubai market.
According to Arabiya Net, according to a statement, shareholders will consider the proposal at a meeting on September 21.
The limit for foreign ownership is currently 49%.
Shares of Emaar Properties rose 3.18% after the decision of its board of directors regarding foreign ownership.
JPMorgan Chase & Co., Goldman Sachs Group and BlackRock are among the company's foreign owners, according to data compiled by Bloomberg and seen by Al Arabiya.net.
The stock is included in major global indices that track developing country stocks, including the widely tracked MSCI Emerging Markets Index.
