Dubai – Mubasher: DAMAC Properties is set to commence its listing on the Dubai Financial Market (DFM) on Monday, January 12, 2015, according to a statement sent out by the DFM to brokerage companies on Saturday.

The Securities and Commodities Authority (SCA) had previously announced its approval to list DAMAC Properties under local companies in preparation for its listing on the UAE’s money markets.

Established in 2002, DAMAC has delivered almost 11,000 units to date and currently has a development portfolio of over 39,000 units at various stages of progress and planning as of September 30^th, 2014.

By the end of 2014, DAMAC Properties became the first real estate developer to trade its stock on the London Stock Exchange (LSE). DAMAC had given investors an option in July to exchange their global depository receipts (GDRs) on LSE for ordinary shares to be listed on the DFM.

The DFM saw four listings during 2014, following a five-year hiatus, as Marka, Emaar Malls, Amanat Holdings and Dubai Parks & Resorts were listed.

Photo Credit: Arabianeye-Reuters