• Foreigners allowed to own up to 49 percent of companies listed on the UAE financial markets

Arab News

DUBAI: The number of shares owned by foreign investors in six UAE listed real estate companies rose to about 8.4 billion shares worth Dhs 21.2 billion ($5.77 billion), according to a report by WAM, the UAE state news agency, citing figures from the Dubai and Abu Dhabi financial markets.

While the report did not reveal the rise in percentage compared to last year, it did reveal that foreign ownership of Emaar Properties as of Dec. 9, 2020, amounted to 2.54 billion shares, or 35.51 percent of total shares.

Foreign ownership of Al Dar Properties amounted to 2.083 billion shares or 26.5 percent, while Damac Properties had 2.046 billion, or 33.825 percent, of shares owned by non-Emiratis.

Foreigners are also allowed to own up to 49 percent of companies listed on the UAE financial markets.