Dubai's Amlak to resume trading in H2 2014- UAE Econ Min

DUBAI, March 24 Mon Mar 24, 2014 4:42am EDT

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DUBAI, March 24 (Reuters) - Dubai's indebted mortgage lender Amlak, whose shares have been suspended since 2008, will resume trading on Dubai's bourse in the second half of this year, the United Arab Emirates' economy minister said on Monday.

"Our target is to list the company in the second half of this year," Sultan bin Saeed al-Mansouri told reporters on the sidelines of an event in Abu Dhabi.

Amlak has not traded since November 2008, when its shares were suspended along with rival Tamweel, as credit markets dried up and Dubai real estate prices began a slump which would see them fall more than 50 percent from their peak. (Reporting by Stanley Carvalho, Writing by Praveen Menon; Editing by Matt Smith)

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