Aldar foreign ownership raised to 49%

abu dhabi — Aldar Properties announced on Sunday that its Foreign Ownership Limit (FOL), has been increased to 49 per cent, from 40 per cent, following completion of all regulatory formalities and will be implemented for trading effective today. This follows shareholder approval of the increase at Aldar’s 2018 Annual General Meeting, which was held on March 21, 2018. Talal Al Dhiyebi, CEO of Aldar, said, “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.

The increase in our FOL 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 and beyond, he added.

— business@khaleejtimes.com