UAE's Emaar Properties moots IPO in India

Dubai, Dec 11: UAE-based real estate developer Emaar Properties, which has taken up projects in India, is mulling initial public offerings in the high-growth Indian market, a top official said.

Tapping the Indian stock market would raise funds for Emaar's planned projects in the country, company Regional Managing Director Nader Mohammed said.

''It is something we're considering along with various other options in places like Egypt and India. We have not ruled out IPOs,'' Gulf News reported him as saying.

Emaar has invested around 60 billion dollars in international projects in the last two years, since the company ventured outside the UAE.

UNI