Dubai’s DAMAC Properties PJSC has declared that its board will consider raising its stake in part-owned subsidiary DAMAC International Limited.
The company declared to Dubai Financial Market (DFM) that the matter would be considered at an executive gathering on Thursday.
DAMAC International Ltd claims Nine Elms Property Limited, the developer behind the London-based DAMAC Tower Nine Elms advancement.
DAMAC Properties confirmed by the end of the previous year that 85 percent of the company’s shares are still controlled by founder Hussain Sajwani and his family.
Sajwami the previous month asked patience, providing market recovery post-COVID-19 could be as far away as 2023, after DAMAC Properties 2020 dropping were provided costing to $297 million.