Emaar plans $40bn London listing

Property giant Emaar is planning to float on the London Stock Exchange next year, in a listing that could value the company at $40 billion, ArabianBusiness.com can reveal in a world-exclusive.

The company's chairman Mohammed Alabbar revealed the news in the exclusive interview with Arabian Business, which is to be published on Sunday 18 November.

In the interview, Alabbar confirms: "Emaar is considering listing on the London Stock Exchange and the estimated timeline is the next twelve months."

The magazine cites sources close to the company speculating that the listing will be in the form of a "mother company', covering the entire Emaar empire - its Dubai Financial Market listing, its India listing and its 30% stake in Saudi Arabia's Economic City.

With the DFM listing worth $21 billion, India $17 billion, any London listing is - on today's figures - likely to top the $40 billion mark.

Any such listing would instantly propel Emaar into the FTSE100, making it one of the top five valued listed Arab companies anywhere in the world.

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