by Amruth Sundarkumar | Jun 23, 2021 | Corporates
Maple Invest, the investment company owned by DAMAC’s founder Hussain Sajwani said that DAMAC’s privatization plans were postponed after the regulator, UAE’s Securities and Commodities Authority (SCA) launched a review of the transaction. An SCA representative told...
by Amruth Sundarkumar | Jun 21, 2021 | Corporates
Dubai property developer DAMAC revealed in a filing to the Dubai Financial Market that it has hired an independent valuation and financial adviser to assess offers from prospective shareholders in a $599mn bid to privatize the company. This comes many years after...
by bondevalue | May 17, 2021 | High Yield Bonds
Dubai-based developer Damac Properties’ revenues dropped almost 48% to ~AED 642.2 ($174.8mn) from AED 1.23bn ($334.9mn) while the gross profit was down ~55% to AED 139mn ($37.8mn) from AED 312mn ($84.9mn) last year. It reported a net Q1 loss of AED 189.6mn...
