Damac's board nods to raise ownership in Damac International

Dubai – Mubasher: The board of DAMAC Properties has approved to raise the company's ownership of the outstanding share capital of DAMAC International Limited to 45% from 20%.

In December, the company's board nodded to an increase in the company's ownership of the outstanding share capital of Nine Elms in London from 20% indirect ownership to 40% total ownership.

It is noteworthy to mention that in 2020, the company incurred AED 1.039 billion net losses, compared to AED 37 million in 2019.

Mubasher Contribution Time: 07-Mar-2021 06:41 (GMT)
Mubasher Last Update Time: 07-Mar-2021 06:41 (GMT)