"Arabic Construction" Study the offer in the Emirates amid real estate

The “Arab construction” business is considering offering its public subscription shares in the Emirates, with the aim of taking advantage of the wealth of the real estate market in the country. People who are familiar with the company, based in Abu Dhabi, said it addressed banks in preparation for the potential agreement. The people, who asked not to reveal their identity because of the privacy of the information, added that the presentation process could raise hundreds of millions of dollars. The size or timing of the agreement is not yet decisive, and representatives of the “Arab construction” business have refused to comment. The restoration of real estate in the Emirates is witness to a remarkable wealth market, powered by lower taxes and liberal policies to grant visas, attracting millionaires and expatriates from all over the world. The influx of major financial institutions has also contributed to making Abu Dhabi and Dubai among the best global destinations for residential and commercial real estate. Real estate companies in the UAE have achieved record profits, as the shares of companies such as “Al -Dar Real Estate” and “Emar Real Estate” have risen by about 70% over the past year. Emirati subscription activity attributes this strong growth in the market to accelerate the activity of primary public proposals. It has been reported that a construction company supported by the Dubai Government Investment Corporation wants to raise up to $ 500 million, and an investment agency of the ruler of the emirate is planned to launch two separate real estate portfolios in the market, according to “Bloomberg News”. Nevertheless, construction companies still have challenges in light of the wealth and shrinking courses that the real estate sector went through in the UAE, as the prices of real estate dropped for a period of six years before recovering after the pandemic, which led to the increase in real estate values ​​in Dubai with about two thirds. The Arabtec Holding Company, which built the world’s longest skyscraper, announced its liquidation in 2020, while Drake & Scull International (based in Dubai, based in Dubai, from Dubai, a $ 1.1 billion debt last year. Dhabi, the Emirates Palace Hotel and the “Great Mosche, in Abu Dhabi, the Emirates Palace Hotel and the” address of “Great Mosche in Abu Dhabi, the Emirates Palace Hotel and the” Great Mosche, in Abu Dhabi, the Emirates Palace Hotel and the “Great Mosche, in Abu Dhabi. Website.