Media reports had suggested the trip would begin as soon as Sunday and last two days
Dubai’s Damac Properties on Thursday said its board has unanimously recommended minority shareholders accept founder Hussain Sajwani’s offer to buy them out and delist the company.
If accepted, BlackRock, State Street and other minority shareholders will receive Dh1.4 ($0.38) in exchange for each share that they hold, according to the offer.
Sajwani, who in 2002 set up the developer that owns the only Trump-branded golf course in the Middle East, in September received regulator approval for his takeover bid.
The takeover is taking place amid a recent resurgence in Dubai’s high-end real estate sector, though S&P this month cautioned that demand was uneven across the sector where prices have long been weakened by excessive supply.
The board’s decision to endorse the offer was made by members who did not have a conflict of interest with the deal and following independent advice, Damac said.
Sajwani stepped down as chairman and from the board in June after the takeover bid was announced. — Reuters
Media reports had suggested the trip would begin as soon as Sunday and last two days
Visitors can enjoy movies with family favourites, including ‘The Jungle Book’, ‘Jumanji’ and ‘Zootopia’ to match the wild theme every evening from 8pm
Sheikh Mohamed conveyed his congratulations to all eight honourees, recognising their inspiring efforts and significant contributions in service to society
His father thanked everyone who participated in the search mission despite the challenges posed by flooding in various parts of the emirate
It will be humid by night and Sunday morning with a probability of mist formation over some coastal and internal areas
Nearly 6,000 volunteers linked to a single support group are working tirelessly across the country to help those affected
Real estate developer MAG pledges to cover all the costs of necessary repairs for affected residents
The substantial increase in charges left many residents financially burdened, as they strive to retrieve their stranded vehicles