Dubai Investments
DIC
-0.43%
2.31
-0.01
DIC
Dubai – Mubasher: Dubai Investments, listed on the Dubai Financial Market (DFM), announced that it is still in the process to obtain the final licences from the Securities Commodities Authority (SCA) to establish a real estate fund valued at AED 2 billion, according to a bourse filing.
In April, managing director and CEO of Dubai Investments Khalid bin Kalban told CNBC that the company was planning to create a real estate fund of AED 2 billion ($544.5 million).
Bin Kalban also noted that the company’s contribution to the fund could range from 40% to 45.
Source:
Mubasher