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Damac's board nods to raise ownership in Damac International

Damac's board nods to raise ownership in Damac International
The board has approved to raise the company's ownership in DAMAC International
Damac
DAMAC
0.00% 1.40 0.00

Dubai – Mubasher: The board of DAMAC Properties has approved to raise the company's ownership of the outstanding share capital of DAMAC International Limited to 45% from 20%.

In December, the company's board nodded to an increase in the company's ownership of the outstanding share capital of Nine Elms in London from 20% indirect ownership to 40% total ownership.

It is noteworthy to mention that in 2020, the company incurred AED 1.039 billion net losses, compared to AED 37 million in 2019.