Dubai Financial Services Authority is investigating matters connected to the management of the company
Emirates REIT will start a comprehensive review of its strategic options, including a potential delisting from Nasdaq Dubai.
“The advantages of remaining publicly listed are heavily outweighed by the disadvantages,” the company wrote in a statement on Sunday. It cited the “climate” in the United Arab Emirates’ stock markets and the “cyclical downturn” in the real estate sector.
Earlier on Sunday, Emirates REIT said the Dubai Financial Services Authority is investigating matters connected to its management.
Last month Emirates REIT filed an application in the Dubai International Financial Centre Courts to find out the identify of those behind “suspicious trades” in its shares.
While in May, the company said it found evidence of irregular trading activity by certain market participants and reported it to the regulatory authorities.