Aldar raises foreign ownership limit to 49%

Announcement comes after company secures shareholder approval

Aldar Properties yesterday said that it raised the foreign ownership limit from 40 per cent to 49 per cent effective yesterday. The announcement comes after Aldar secured shareholder approval for increasing the foreign ownership limit at its Annual General Meeting last month.

“Active engagement with international investors has been an important focus for Aldar over the past few years and we have seen significant growth in our international shareholding over this time,” said Talal Al Dhiyebi, CEO of Aldar in a statement.

“The increase in our foreign ownership limit to 49 per cent will support further growth in our international shareholding, as well as providing greater liquidity in the stock as we embark on our growth strategy within Abu Dhabi

Last month, Aldar joined other Abu Dhabi Securities Exchange listed firms on a New York roadshow for a presentation to institutional investors.

and beyond.” With $10 billion (Dh36.7 billion) in assets and a 75 million square metre land bank, Aldar is listed on Abu Dhabi Securities Exchange and has a number of buildings to its name including the firm’s headquarters in the Al Raha Beach development, the Gate Towers in Shams Abu Dhabi on Al Reem Island and Yas Island’s F1 circuit.

Last month, Aldar joined a host of other Abu Dhabi Securities Exchange listed companies on a roadshow to New York where it presented the company’s equity proposition to a broad range of institutional investors.