VOL. XLVII

No 01

5-January-2004

CAPITAL MARKETS

Kuwaiti Investors Purchase 5.7% Of UAEs Emaar

Kuwaiti investors have paid Dh375mn ($102mn) for a 5.7% share of Emaar, the Dubai-based property development group, a statement released by Shuaa Capital, the underwriter, said on 16 December. The deal was co-managed by Kuwaits al-Ahlia Investment and Gulfinvest and the shares were put into a firm called Emirates Opportunities Ltd. The Dubai government holds a majority stake in Emaar, which was the first...