UAE's SHUROOQ considering stock market float in 2022

SHUROOQ has a separate portfolio of real estate, tourism, industrial and transportation projects, with a value exceeding $3.2bln

  
Investors are seen at the Dubai International Financial Market in Dubai, UAE February 7, 2018. Image used for illustrative purpose.

Investors are seen at the Dubai International Financial Market in Dubai, UAE February 7, 2018. Image used for illustrative purpose.

REUTERS/Satish Kumar
RIYADH: Sharjah Investment and Development Authority is considering floating one of its companies on the local stock markets in 2022, according to its CEO.

The company, also known as SHUROOQ, has a separate portfolio of real estate, tourism, industrial and transportation projects, with a value exceeding 12 billion dirham ($3.2 billion), of which around 6 billion dirham are real estate projects.

Marwan J. Al-Sarkal made the comments while appearing on a panel at the Sharjah International Travel and Tourism Forum on Wednesday.

Al-Sarkal said that SHUROOQ will witness for the next 10 years establishments and developments for tourism and real estate projects out of Sharjah.

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