A US$595mil (RM2.5bil) bid to take Damac Properties private by the firm’s founder Hussain Sajwani is the latest blow to the exchange, even as the Gulf city state’s property market showed signs of life in the first quarter. (File pic shows cars pass by the under construction DAMAC towers on Sheikh Zayed highway in Dubai, United Arab Emirates. - AP)
DUBAI’s stock market is set for another delisting, raising a question mark over the future of one of the Gulf’s major exchanges, which was launched two decades ago.
A US$595mil (RM2.5bil) bid to take Damac Properties private by the firm’s founder Hussain Sajwani is the latest blow to the exchange, even as the Gulf city state’s property market showed signs of life in the first quarter.
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