UAE – Mubasher: MAG Holding Group’s real estate unit, MAG Development, is planning to launch an initial public offering (IPO) on the Dubai Financial Market (DFM), the group’s CEO Sar Haffar said, according to Khaleej Times.

The IPO will be announced soon and the listing will be on the DFM, Haffar added.

The top official noted that MAG did not appoint any advisor to the IPO.

Earlier in December, MAG Development broke ground on its AED 2 billion mixed-use project ‘Mag City’, according to a company statement released on Saturday.