Deyaar foreign share at 25%

Deyaar Development, the leading Dubai-based developer listed on Dubai Financial Market, on Monday received approval to allocate 25 per cent of shares for foreign investors.

Dubai Financial Market approved and activated the resolution on April 21, 2014.

The step comes following a recommendation by the Board of Directors that was approved by shareholders in the Extraordinary General Meeting that was convened on April 3, 2014.

The company currently allocates 49% of shares to GCC citizens and foreign investors.

However, foreign ownership must not exceed 25% of total shares allocated. Emiratis, meanwhile, enjoy unlimited share allocation as long as the percentage of shares is maintained at 51% and above.

Deyaar is well-positioned to play a pivotal role in the development of the region's property landscape. The company’s unrivalled portfolio of property offerings and services continues to firmly consolidate its pioneering status in the industry.
 

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