Abu Dhabi’s Eshraq considers Tadawul cross-listing

14/05/2018 Argaam

 

Abu Dhabi-based developer Eshraq Properties is considering to cross-list its shares in the Saudi Stock Exchange (Tadawul) and is in the process of appointing a financial adviser, the company said in a statement.

 

“Eshraq’s development projects in Abu Dhabi and Dubai are on track and within the estimated budget,” the statement said.

 

Construction in the Marina Rise tower in Abu Dhabi is expected to be complete by Q2 2020.

 

Eshraq will also appoint a new contractor for its project in Jumeirah Village Circle by Q2 2018, and is in the final stages of awarding the design contract for Gateway project in Abu Dhabi by the end of Q2.

 

The UAE real estate developer also cited its “healthy financial position” which enables it to capitalize on investment opportunities in UAE.

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