PHOTO
•His Excellency Essa Kazim: "This listing from DAMAC Properties, as well as recent listings from a variety of economic sectors, will further enhance the market depth with investors' accessibility to more diversified opportunities"
•Mr. Hussain Sajwani: "We believe that a DFM listing for DAMAC is a logical extension of our keen focus on the core markets where we operate and will enable us to further develop the Company's profile in the Middle East region and attract a broader investor base."
Dubai - Dubai Financial Market (DFM) today announced the listing of "DAMAC Properties", as trading commenced on the company's shares.
The company is trading under the symbol (DAMAC), which appears on DFM screens, trading system and publications within the Real Estate Sector.
As the debut listing of the new year 2015, it further strengthens the exchange's prominent position as the most favored listing venue for leading local and regional companies and lifts the total number of listed companies to 59. The DFM has successfully attracted leading companies operating in diversified sectors including; retail, real estate, education, healthcare and tourism, which further diversifies the list of issuers and enables investors to participate in the growth of these vibrant sectors.
This step follows the completion of DAMAC Properties transaction, which offered its investors to transfer GDRs listed on London Stock Exchange (LSE) into ordinary shares in order to list on DFM.
His Excellency Essa Kazim, Chairman, Dubai Financial Market, Mr. Hussain Sajwani, Executive Chairman and Chief Executive Officer, DAMAC Properties, in addition to senior representatives from both organisations attended the listing ceremony at DFM's trading floor.
H.E. Essa Kazim said: "We are delighted to welcome the listing of DAMAC Properties, as the most recent addition to listing from highly important real estate sector whether for DFM or the broader economic activity in Dubai and the UAE.
This significant step reaffirms the undisputed confidence in DFM as a leading effective platform for issuers and investors in the UAE and beyond, as a result of its comprehensive infrastructure, state-of-the-art electronic systems, and world-class services similar to most developed international markets."
"Through its history, DFM has been playing an active role enabling issuers to avail capital market benefits including; raising necessary funds to implement their growth strategy, valuating their assets within fair and transparent trading environment as well as strengthening links with current and potential investors locally and internationally through effective platforms such as DFM international investors roadshows.
"Additionally, DFM enables issuers to fortify the relation with investor base through many value added services such as workshops and informative guides to promote best practices of investor relations and corporate governance as well as the shareholders analysis report (eSAR), cash dividend, distribution services and general meetings solutions, etc. The accelerating pace of listings on DFM clearly indicates the sound fundamentals of the national economy's various sectors as well as investors' profound confidence in the economic outlook and the performance of companies. Moreover, this listing from Damac Properties as well as recent listings from a variety of economic sectors will further enhance the market depth with investors' accessibility to more diversified opportunities," H.E. Essa Kazim added.
Hussain Sajwani, Executive Chairman, DAMAC Properties said: "We believe that a DFM listing for DAMAC is a logical extension of our keen focus on the core markets where we operate and will enable us to further develop the Company's profile in the Middle East region and attract a broader investor base.
"The listing demonstrates both our confidence in our home market of Dubai and our commitment to the DFM, which we believe will provide sufficient liquidity to ensure a healthy aftermarket, as well as allowing our large domestic investor base to trade our shares on their local market."
-Ends-
About Dubai Financial Market
Dubai Financial Market (DFM) was established as a public institution with its own independent corporate body. DFM operates as a secondary market for the trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the market. The DFM commenced operations on March 26, 2000. Following its initial public offering in November 2006, when DFM offered 1.6 billion shares, representing 20 per cent of its paid-up capital of AED 8 billion, DFM became a public joint stock company. Following the IPO, the Government of Dubai retained the remaining 80 per cent of DFM Company through Borse Dubai Limited. www.dfm.ae
For further information, please contact: Atef Fathy, Vice President - Head of Media & Public Relations, Dubai Financial Market. Tel: 04-3055334.
Email: afathy@dfm.ae
About DAMAC Properties
For over a decade, the rich and diverse real estate portfolio of DAMAC Properties has been at the forefront of the Middle East's luxury real estate market. With an enduring passion for design and quality, the company has built a reputation for creating some of the most iconic and desirable properties in the UAE, Qatar, Saudi Arabia, Jordan and Lebanon.
Established in 2002, DAMAC has delivered almost 12,000 units to date and currently has a development portfolio of over 39,000 units at various stages of progress and planning as of September 30th 2014, which includes over 10,000 hotel rooms and serviced hotel apartments.
Always at the forefront of visionary concepts, DAMAC has relationships with Paramount Hotels & Resorts, (the official licensee of Paramount Pictures), Italian fashion houses Versace Home and FENDI Casa for branded residential apartments & villas and The Trump Organisation for the development & operations of the Trump International Golf Club, Dubai and The Trump Estates within the AKOYA by DAMAC development.
In Mid-2013, DAMAC Properties introduced the 'AKOYA by DAMAC' master plan development in Dubai. This includes mansions, villas, luxurious apartments and a retail centre all surrounding 'The Trump International Golf Club. Within the AKOYA by DAMAC, living experiences include 'The Trump Estates', a limited collection of 100 luxurious mansions. Also set within the heart of the community is a global first, with the launch of FENDI fashion-styled villas. AKOYA by DAMAC is also the home of Golf Veduta - serviced hotel apartments and DAMAC serviced Villas by Paramount Hotels and Resorts.
Following the unprecedented success of AKOYA by DAMAC, AKOYA Oxygen was launched in August 2014. The 55 million sq ft development in Dubailand and will include the most lush, green living area in the region. The project also includes a five-star international Hotel, a luxury desert-style wellness centre, globally-recognised retail brands, leisure & entertainment offerings, and organic market places all set within beautiful manicured and peaceful landscaping.
As a global leader in branded real estate, the company is also developing a US$1 billion hotel and luxury serviced residences in the Burj Area of Dubai, called 'DAMAC Towers by Paramount Hotels & Resorts', which will comprise the first Paramount Hotel & serviced Residences in the region.
Within the hospitality sector, DAMAC's in-house hospitality team is responsible for managing the Company's growing portfolio of over 10,000 units of leisure assets in its serviced hotel apartment developments. The division provides complete hospitality management through its own hospitality operating brands 'DAMAC Maison Hotels and Hotel Apartments and NAIA by DAMAC.
As DAMAC continues to innovate and bring new concepts to the market, the Company is determined to build on its powerful performance to date. With vision and momentum, DAMAC is building the next generation of Middle East luxury living.
Further information is available at www.damacproperties.com or join DAMAC Properties on Facebook, Twitter (@DAMACOfficial) and YouTube.
For more information please contact: Niall McLoughlin, Senior Vice President - Corporate Communications, DAMAC. Tel: +971 4 3732190 │ Fax: 00 9714 3732335 │Email: niall.mcloughlin@damacgroup.com
© Press Release 2015
