Dubai Group is in the process of selling its stake in Shuaa Capital and is also obliged to divest its holdings in EFG Hermes and Bank Muscat this year, the chief executive of Dubai Group's parent firm said on Tuesday.
Dubai-based Arzan Wealth said it has joined hands with US-based 90 North Real Estate Partners to acquire the North American headquarters of French building materials giant Saint-Gobain for $123 million.
The 65-acre campus located
Dubai Investments Real Estate Company (DIRC) has announced plans to launch Mirdif Hills, a mixed-use residential, commercial and retail development in the UAE emirate, at the upcoming Cityscape Global expo.
A real estate arm of Du
UAE-based Buroj Property Development plans to build a luxury resort on a mountain near Sarajevo, the capital of Bosnia and Herzegovina, at an investment of €2.3 billion ($2.6 billion), said a report.
The project will se
Leading UAE investment bank Shuaa Capital has appointed Dubai Group CEO Ahmed Al Qassim as a non-executive director with immediate effect.
Prior to his appointment at Dubai Group, Al Qassim, an Emirati national, was the director f
Financial services conglomerate Dubai Group has reached a final deal with creditors on restructuring $10 billion of debt, resolving the last major hangover from the emirate's financial crisis, its parent company confirmed.
Dubai Group has signed a $10 billion debt restructuring agreement, two sources with knowledge of the matter told Reuters on Thursday, bringing an end to the last major hangover from the emirate's 2009 financial crisis.
Dubai Financial Group, a subsidiary of diversified financial services company Dubai Group, has sold its 30.5 per cent stake in Bank Islam to BIMB Holdings, a Malaysia-based investment holding company.
The agreement was signed betw
Dubai Group, an investment vehicle owned by the emirate's ruler, will be spun off as an independent company with creditors owning an equity stake after its planned $10 billion debt restructuring, a top official said.
Dubai Group's $10 billion debt restructuring will be managed by the head of another state-linked firm while two banks will have a monitoring role to ensure more oversight from creditors, sources aware of the matter said.