Eshraq Properties to divest its stake in Ward Holdings

14/06/2017 02:47 AST

Eshraq Properties said that it has entered into an agreement divesting its equity representing 4.55 per cent of the total capital in Ward Holdings Limited, a company existing under the laws of DIFC (Dubai International Financial Centre) and whose main object is owning a hotel in DIFC for a total price of Dh68 million. Further details were not given.

Listed on Abu Dhabi Stock Exchange, Eshraq Properties has a capital of Dh2.325 billion and an extensive portfolio of residential, commercial and other real estate developments. Jassim Al Seddiqi is the chairman of the company.


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Eshraq Properties reported a net profit of Dh32.2 million last year compared to a net loss of Dh301 million in 2016.

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Abu Dhabi developers Eshraq Properties and Reem Investments in advance

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Abu Dhabi developers Eshraq Properties and Reem Investments on Wednesday said they were in advanced stages of merger talks to create the second-largest listed developer in the emirate.

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