DUBAI: Dubai Holding, an investment conglomerate owned by the emirate’s ruler, says it is seeking to raise up to 1.79 billion dirhams or about US$487mil through the initial public offering of its residential real estate investment trust (REIT).
In an announcement yesterday, the company set the price range for the 12.5% stake between 1.07 dirhams and 1.10 dirhams per unit, valuing the REIT at up to US$3.9bil.
