Business News
UAE property group looking to list on Singapore Exchange
Apr 11, 2007, 1:59 GMT
Singapore - Emirates International Holdings (EIH), a property group linked to the Sharjah royal family, is aiming for a listing on the Singapore Exchange, a published report said Wednesday.
The United Arab Emirates-incorporated company has been in discussions for several months, The Business Times reported.
The company is 36 per cent owned by Dubai-based Emirates Investments Group and has a portfolio of luxury residential and commercial property in the Gulf region.
EIH's parent Emirates Investments Group set up a representative office last year in Singapore and announced plans to invest 641 million US dollars in real-estate projects as part of a major expansion into Asia.
The chairman of EIH and Emirates Investments Group is Sheikh Tariq bin Faisal al-Qassimi, a member of the ruling family of Sharjah, one of the UAE's seven emirates.
The upcoming luxury Palazzo Versace Dubai resort, expected to be completed next year, is a joint venture between EIH, Gianni Versace and Australia's Sunland Group. EIH and Sunland built the world's first Palazzo Versace Hotel in 2000 on Australia's Gold Coast.
© 2007 dpa - Deutsche Presse-AgenturCOMMENT
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