Dubai-Mubasher: Dubai Investments purchased 20% additional stake in Properties Investment (PI) for AED 98 million ($26.7 million), according to a bourse statement.
PI is a joint venture between Dubai Investments and Union Properties.
After the new acquisition, Dubai Investments’ stake will rise to 70% in the joint venture firm.
The additional stake is aimed at consolidating PI’s operational efficiency and broadening its real estate and investment portfolio, the statement said.
