VOL. XLIII

No. 30

24-July-2000

UAE

UAE Establishes $136Mn Firm To Manage State Property

The UAE has approved the establishment of a Dh500mn ($136mn) government-owned firm to manage the Gulf states real estate holdings. According to the Gulf News on 17 July, the Minister for State Finance and Industrial Affairs, Muhammad Khalfan bin Kharbash, said that the Emirates Property Corporation will have an initial paid-up capital of Dh50mn ($13.61mn), which can be increased in the future through a public...