Dubai Investments to raise cap on foreign ownership

Foreign investors now hold 13.7 per cent of Dubai Investments’ shares out of the total 20 per cent allowed, bourse data shows.

The firm’s shareholders, including sovereign fund Investment Corp of Dubai that has an 11.5 per cent stake, will vote on the proposal at a meeting on April 15, the company said.

The proposal follows similar moves by other Dubai-listed companies such as Deyaar, Union Properties, and Mashreq.