The percentage of foreign ownership allowed of Emaar Properties shares will now become 100%, instead of 49%, the company has said in a filing to the Dubai Financial Market (DFM).

 

"Reference to the approval of the company’s general assembly held on September 21, 2022 to amend Article 7 of the Articles of Association the company to become as follows: All the company’s shares are nominal, and there is no minimum shareholding for UAE nationals and GCC nationals in the company, and there is no shareholding limit for non-UAE nationals," said the statement.

 

The company has obtained the approval of the Securities & Commodities Authority and Dubai Economy & Tourism Department for the amendment, it said 

 

The said aforesaid amendment shall commence October 25 before trading hours. - TradeArabia News Service