Dubai – Mubasher: Maple Invest Co, owned by Hussain Sajwani, has decided to postpone the procedures to acquire shares in the share capital of DAMAC Properties, as the Securities and Commodities Authority (SCA) is reviewing the offer.

Maple Invest Co referred in its letter to the Dubai-based property developer that the acquisition procedures have been delayed until the SCA's review is concluded, according to a bourse filing on Tuesday.

It is noteworthy to mention that in early June, Maple Invest Co has submitted an AED 935.4 million offer to purchase the minority shareholders in Damac.