DUBAI, June 7 Dubai's Emaar Properties
said on Wednesday it plans to offer up to 30 percent of its
United Arab Emirates real estate development business in an
initial public offering.
The decision to hive off the unit in a public share sale and
a listing on the Dubai Financial Market came after an internal
review of Emaar's asset values, Emaar said in a statement
published on the Dubai bourse website.
Subject to market conditions, the funds raised through the
sale of equity would be distributed to shareholders of Emaar
Properties, it said.
(Reporting by Hadeel Al Sayegh; Editing by Stephen Coates)