October 24, 2017 / 10:49 AM / 7 months ago

Emaar chairman expects special dividend pay out from real estate listing by Jan

RIYADH, Oct 24 (Reuters) - Emaar Properties Chairman Mohamed Alabbar said on Tuesday he expects to issue a special dividend in January from the proceeds of the partial listing of the Dubai property developer’s real estate unit.

Emaar announced this week it would list up to 20 percent of Emaar Development.

He told a news conference in Riyadh that he “would love” to work on real estate projects with the Public Investment Fund (PIF), Saudi Arabia’s top sovereign wealth fund, though no such discussions were underway.

He also said he would be interested in being involved in a transnational business and industrial zone across Saudi Arabia, Egypt, and Jordan, announced earlier on Tuesday by Saudi Crown Prince Mohammed bin Salman. (Reporting by Katie Paul and Hadeel Al Sayegh, writing by Alexander Cornwell, editing by David Evans)

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