{"id":57176,"date":"2017-06-07T15:35:16","date_gmt":"2017-06-07T08:35:16","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=57176"},"modified":"2017-06-07T13:42:50","modified_gmt":"2017-06-07T06:42:50","slug":"no-heading","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/no-heading\/","title":{"rendered":"(No heading)"},"content":{"rendered":"


\nEmaar Properties plans to float its UAE real estate development business on the main Dubai bourse, the company announced this morning.In a stock exchange statement, Emaar said it will offer up to 30 per cent of its UAE Real Estate Development business through a share offering on the DFM.The developer did not say when the listing was likely to occur, or how much it was expected to raise.Emaar said the funds raised would be be “primarily distributed as dividends to Emaar’s shareholders”.
\nThe company said the decision to list Emaar’s UAE Real Estate Development business was as a result of an internal review of Emaar’s asset values.”Over the years, we have generated significant returns from our UAE Real Estate development business and it continues to be a strong driver of growth for the group. As Emaar’s other businesses have grown and expanded, we wanted to ensure that investors who value the UAE Real Estate Development business the most, the foundation of Emaar’s success, can do so directly,” said Mohammed Alabbar, Emaar ‘s chairman.
\n“This will ensure that the value of this business is properly recognised, thereby enhancing value for all Emaar shareholders.”Emaar, a Dubai-based property major, has been engaged in plans to spin off various parts of its business for the past five years.In 2014 the company floated its Emaar Malls business on the DFM and in 2015 the company floated its Egyptian unit on the Cairo stock market.Emaar has been widely expected to spin off its hospitality business.
\nIt said real estate sales at its real estate development business in the UAE increased from Dh4.2 billion in 2012 to Dh14.4bn in 2016. This year, to the end of May 2017, the business recorded sales of Dh9.7bn, 24 per cent above the same period in 2016.Emaar said the division’s total backlog – representing the value of properties that have been sold but whose related revenues had not been recognised – as at the end of May was Dh40bn.
\nEmaar shares rose 5.71 per cent in early trading on Wednesday, standing at Dh7.4 at 10am UAE time.lbarnard@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…(No heading)<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Emaar Properties plans to float its UAE real estate development business on the main Dubai...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-57176","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-eSc","jetpack-related-posts":[{"id":57182,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-properties-plans-ipo-for-uae-real-estate-development-business\/","url_meta":{"origin":57176,"position":0},"title":"Emaar Properties plans IPO for UAE real estate development business","date":"June 7, 2017","format":false,"excerpt":"\r Emaar Properties plans to float its UAE real estate development business on the main Dubai bourse, the company announced this morning.In a stock exchange statement, Emaar said it will offer up to 30 per cent of its UAE Real Estate Development business through a share offering on the DFM.The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":58594,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-properties-appoints-new-ceo\/","url_meta":{"origin":57176,"position":1},"title":"Emaar Properties appoints new CEO","date":"June 21, 2017","format":false,"excerpt":"\r Emaar Properties has appointed Amit Jain as its group chief executive officer with immediate effect.Mr Jain had already been acting chief executive since April last year, when former chief executive Abdullah Lahej departed the company to become the head of Dubai Holding's Dubai Properties Group.Mr Jain has worked at\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":46749,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-properties-brings-in-mirvacs-john-carfi-to-lead-development-unit\/","url_meta":{"origin":57176,"position":2},"title":"Emaar Properties brings in Mirvac's John Carfi to lead development unit","date":"March 6, 2017","format":false,"excerpt":"\r Dubai's largest listed property company, Emaar Properties, has appointed the former head of residential at Australian developer Mirvac as its new chief executive for development. In a statement emailed to the media yesterday, Emaar confirmed Mr Carfi's appointment. \"John Carfi has joined Emaar Properties as CEO of Development,\" an\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3159,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-and-eagle-hills-link-up-with-sharjahs-shurooq\/","url_meta":{"origin":57176,"position":3},"title":"Emaar and Eagle Hills link up with Sharjah's Shurooq","date":"January 31, 2016","format":false,"excerpt":"\r \r Emaar and Eagle Hills have formed a new property venture with Sharjah's Investment and Development Authority (Shurooq).Shurooq said the project would support the emirate's economic expansion plansThe newly formed company, Omran Properties, will seek to \"develop investment, commercial, industrial and real estate projects and beyond\", with an initial\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":54735,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-residential-launches-lift-profit-amid-positive-economy\/","url_meta":{"origin":57176,"position":4},"title":"Emaar residential launches lift profit amid 'positive economy'","date":"May 14, 2017","format":false,"excerpt":"\r A spike in the value of sales of new residential property in Dubai helped lift first-quarter profit for developer Emaar amid what its chairman calls a positive economic environment in the emirate. The developer said that its preliminary net profit for the first three months was 15 per cent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8634,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-considers-stock-listings-for-hotels-unit-along-with-turkish-and-indian-businesses\/","url_meta":{"origin":57176,"position":5},"title":"Emaar considers stock listings for hotels unit along with Turkish and Indian businesses","date":"March 21, 2016","format":false,"excerpt":"\r \r Emaar Properties is considering the flotation of overseas units and its hotels arm to provide it with more growth capital and to return cash to shareholders.The company has told investors that it is looking to \"monetise core assets\" through further initial public offerings of business divisions, such as\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/57176"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=57176"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/57176\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=57176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=57176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=57176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}