Dubai – Mubasher: Naeem Holding plans to launch a real estate fund in the UAE, to be listed later on the stock market, CEO Youssef Mohamed Medhat Al Far stated on Sunday.
Price correction in the property sector has created affordable investment opportunities through real estate investment trusts, known globally as REITS, Al Bayan newspaper reported, citing Al Far as saying.
REITs have achieved positive results in the UAE's market, given its simplicity and clarity in trading, the CEO revealed.
It is too early to determine the trust’s value – which is still subject to further study – as the company was directing its efforts towards listing on the DFM, a move that will be followed by more expansions in the GCC, Al Far announced.
The Egypt-listed corporation is set to exit secondary activities, selling any stake below 50%, in a bid to concentrate its investment into the financial market, the top official added.
In March, the DFM welcomed the listing of Naeem Holding, a leading investment company in the Middle East and North Africa (MENA).
