Investors advised to avoid panic about oil prices due to the Middle East crisis
energy11 hours ago
“India has done extremely well for us, and that’s why we are going public in India, probably in a few weeks,” he said in an interview at the World Economic Forum in Dubai, where the company is based. “The banking system is solid and India is still a conservative environment that suits us well.”
New Delhi-based Emaar MGF Land Ltd. plans to raise Rs38.5 billion ($800 million) in the offering. The unit, which scrapped a $1.64 billion initial public offering in February last year, had 29 residential and commercial projects under way at the end of August. “I would really lean towards India because it’s a huge economy,” Alabbar said. “It’s growing at a reasonable rate and it’s not crazy like China so it’s good for us and we can grow reasonably well.” The company’s best markets are currently Egypt and Morocco while the United States “is very soft
for us.”
Emaar, the United Arab Emirates’ biggest developer is in talks to combine with three units of state-controlled Dubai Holding LLC.
A merger with Dubai Properties LLC, Sama Dubai LLC and Tatweer LLC could generate “exceptional” cost savings amid a glut of homes that drove down prices.
“It would be a great opportunity because we are going to put our hands on a very valuable land bank,” Alabbar said of the possible merger.
“If there’s a city that will move forward in this region as a hub, it’s this city.” Alabbar, who heads a government committee on the credit crisis in Dubai, said the emirate will grow by 5 per cent in 2009.
Investors advised to avoid panic about oil prices due to the Middle East crisis
energy11 hours ago
The number of home listings in four prime areas declined by 52 per cent during Q3 2024, when compared to the same period last year
realty11 hours ago
Funding, in convertible debt, also coming from Thrive Capital and Khosla Ventures
tech12 hours ago
Tesla's deliveries fall short of expectations, shares drop over 6%
auto12 hours ago
The Artisan is an ideal choice for a business lunch
food12 hours ago
Before 1971, the average life expectancy was 53 years — now it's 80; this is why managing seniors' well-being is becoming an important topic, doctor says
uae12 hours ago
Gomez emphasises the role of gastronomy in diplomacy, stating that the relationships between nations are often strengthened around the dining table
lifestyle12 hours ago
The closure resulted from serious food safety violations and the facility's failure to implement effective corrective measures
uae12 hours ago