DUBAI, March 16 Dubai's Emaar Properties
expects the listing of its retail unit to occur within
months, while it is also preparing its Egyptian unit for an
initial public offer in Egypt, Emaar chairman Mohammed Alabbar
said on Sunday.
The timetable for the retail listing "is definitely less
than a year. We're hoping within months," Alabbar told Al
Emaar is in the final stages of discussions with banks on
the best way to conduct the listing, he added.
Dubai's largest listed property developer said on Saturday
that it planned to list 25 percent of its shopping malls and
retail unit in an offer expected to raise between 8 and 9
billion dirhams ($2.18-$2.45 billion).
Alabbar did not give details of his plans for the IPO of the
fully-owned Egyptian unit, Emaar Misr, which is a major foreign
investor in Egypt's real estate sector and claims an investment
portfolio of 53 billion Egyptian pounds ($7.6 billion).
(Reporting by Mirna Sleiman; Editing by Andrew Torchia)