Dubai – Mubasher: Initial public offering (IPO) valuation of Emaar Properties’ Dubai real estate business could range between AED 22 billion and AED 28 billion, equivalent from AED 0.9 to AED 1.2 per share, according to a report by Investment Bank (SICO).

This implies a potential one-off dividend yield of between 12%-15% for Emaar's shareholders, assuming a full payout from the stake sale.

The company’s real estate sales rose from AED 4.2 billion in 2012 to AED 14.4 billion in 2016.

The outlook for Emaar’s real estate development and hospitality business is strong.

SICO expected segment revenues to grow at a 5-year compound annual growth rate of 7% (2016-2020) due to moderation in growth of rentals.