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Deyaar to become a public firm

Dubai Islamic Bank, the Gulf's third-largest Islamic bank by market value, said it planned to convert its real estate unit into a public joint stock company.

Deyaar, a wholly owned unit of DIB, has submitted an application to the United Arab Emirates regulator to complete the conversion, said a statement released on Sunday by the bank following its annual general meeting.
Deyaar acquires, develops, rents and manages real estate in the Gulf, according to its website.

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