Discussions to attract more companies to the Dubai market

Discussions to attract more companies to the Dubai market
Discussions to attract more companies to the Dubai market
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Hamed Ali, CEO of the Dubai Financial Market and Nasdaq Dubai, confirmed that the market is currently in discussions with a number of companies listed in other regional and international markets with the aim of listing them independently or jointly on the Dubai Financial Market during the current year, according to the desire of companies that want to achieve better access. To international investors through the Dubai Financial Market.

Hamed, during press statements on the sidelines of the summit, expressed his great optimism about the performance of the economy – oil and non-oil – for the country and the Gulf region during 2023, and its reflection on the quality of subscriptions and the opportunities for diversification that this will create in the Dubai Financial Market, stressing the market’s keenness to continue focusing mainly on developing the structure Vital and developed regulatory framework for the capital market in cooperation with various market players.

He pointed out that the diversification of the portfolio of companies in the Dubai Financial Market and the diversification of the Dubai economy open strong opportunities for companies to access the markets and finance their growth operations. We would like to see companies from different sectors of the market that reflect the diversity of the emirate’s economy. He added: «The Dubai government dealt perfectly with the Corona pandemic, and this helped motivate companies to improve their governance and transparency practices and enhance the momentum of activity and growth. financial markets, but we will also be selective in offering operations.

The real estate sector

And he stated that the demand in the real estate sector is still good, which is reflected in the volume of real estate sales on a daily basis, expecting that the activity of the IPO market in Dubai will be reflected in the real estate sector, while attracting new segments of investors to work and live in Dubai. And he stated: «There is a demand for infrastructure and real estate units, and this demand is not only investment, but there is a demand from end users in conjunction with the increase in the population of the emirate, which increased by about 150,000 new residents last year, and this creates a demand in the real estate market as well. Dubai is the first in the region in the level of investments that entered the real estate market, and this will certainly reflect positively on the Dubai Financial Market. We would like to see more companies in the markets, of course, but the companies must specify the exact goals that they want to achieve through listing, and we are in constant dialogue with the companies in this regard.

Family companies

He stated that the recent legislative amendments, such as canceling the minimum limit for selling the company for subscription (the volume of free trading), had a major role in motivating many private companies that look to the markets for listing and had a strong impact in modernizing many private and family companies and encouraging them in general to think about listing in the market. Dubai Financial.

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investment funds

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Regarding the investment funds law that was issued last week, the CEO of the Dubai market explained that the infrastructure owned by the market allows the listing of new funds that enhance the financial instruments available in the market, saying: “We will not have any direction to the contrary because these funds enhance the market in terms of Product diversity.

Expectations

He added, “Despite the difficult circumstances the world went through last year, such as the rise in interest rates and others, it did not greatly affect the companies’ plans to list. We believe that these circumstances will not change our priorities and directions or the companies’ plans for listing. The last update of interest rates was last October, while our last listing was last November.

33%

Hamed Ali stated that 33% of the total stock subscriptions in the Dubai Financial Market last year for individuals took place through websites. We are continuing with these plans that will allow investors to subscribe at any time and anywhere in the world.

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