Hussain Sajwani has made an offer to buy out the minority shareholders of the Dubai Financial Market-listed Damac Properties Dubai for Dh2.19bn ($599m). In a statement on 9 June, Damac said it had received an offer through a Sajwani-owned vehicle, Maple Invest Company, and that Sajwani had subsequently resigned as chairman and board director of Damac, to prevent a conflict of interest.
Subscribe to Gulf States Newsletter