DAMAC Properties said that the percentage of foreign investors' ownership in it is about 3%, according to the company’s statement to the Dubai Financial Market today, Wednesday.
This came as a comment on media reports from various sources saying that 33.7% of the company's shares are owned by foreign investors, equivalent to about 2.046 billion shares.
The company clarified that the public information available on the Dubai Financial Exchange website shows that 72.22% of the company's total shares are owned by Hussein Sajwani, the founder and chairman of the board of directors.
Damac explained that Hussain Sajwani owns 18% of the company through companies registered outside the country, and the remaining 54% is locally owned.
and noted that about 13% of the shares are shares owned by members of the Sajwani family through companies registered outside the country.
and Damac confirmed that approximately 34% of the company’s shares are owned by companies registered outside the country, and therefore the remaining 3% of the company's shares are owned by foreign investors.
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