UAE-based TECOM Group, a real estate subsidiary of Dubai Holding, will be listed on the Dubai Financial Market (DFM), it was announced on Tuesday.
The listing is part of a strategy to increase the size of the local stock market to 3 trillion dirhams ($816 billion), according to the Dubai Media Office in a post on Twitter.
“The listing is part of the Dubai Securities Exchange Higher Committee’s strategy,” the state agency said.
The emirate announced last month that it would be listing its main electricity and water utility company, Dubai Electricity and Water Authority (DEWA) and its road toll system Salik.
The TECOM portfolio consists of business communities including Dubai Internet City, Dubai Media City, Dubai Production City, as well as Dubai Design District, also known as D3.
(Reporting by Imogen Lillywhite; editing by Cleofe Maceda)
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