Amlak Finance, the pioneering Shari’a compliant property finance provider, decided resuming transactions on its shares in Dubai Financial market starting from June.
Transactions were halted on the company’s shares in November 2008 in the wake of the world financial crisis which hit U.A.E to leave Dubai properties prices falling by 50%.
Emaar Real Estate, one of the biggest real estate developers and based in Dubai, owns around 45% of Amlak Finance shares. It’s worth mentioning that Amlak’s share price reached 1.02 dirhams in November 2008 after plunging by 79%.
Amlak Finance recent declaration of transactions resumption led to Dubai’s index rise motivated by Emaar shares rise which hit 0.7% in addition to other companies shares flourish.