By: Amr Adel

Dubai - Mubasher: Emaar Properties is currently carrying out all the required steps for its anticipated initial public offering (IPO) of part of its real estate development business on the Dubai Financial Market (DFM).

Studies are being conducted regarding the volume of the IPO, as well as its timing and all the other details, the company’s spokesperson said in a press conference on Wednesday.

Emaar surprised stock markets this morning when it revealed plans to list its real estate development business on the DFM, as it previously revealed a different plan in April to list its hospitality unit.

The company said in a statement to the Dubai Financial Market (DFM) that the IPO will not be less than 30% of its real estate development business, with the final percentage depending on the market conditions and the listing time.