UAE’s Aldar raises foreign ownership limit to 49%

Aldar Properties, Abu Dhabi’s largest listed developer, has increased its foreign ownership limit to 49 percent from 40 percent, effective Sunday.

The increase in foreigner ownership limit comes after Aldar completed all regulatory formalities of the Abu Dhabi Securities Exchange following shareholders' approval in March, it said in a statement.

The increase in foreign ownership limit will support further growth of Aldar in international shareholding, as well as providing greater liquidity, said Talal Al Dhiyebi, chief executive officer, Aldar.