FAM Holding, a leading property developer, has announced plans to list its shares on the Abu Dhabi Securities Exchange (ADX) Second Market, joining a growing number of family businesses listed on the Emirates Stock Exchange United.
Dr. Faisal Ali Mousa, Chairman of FAM Holding, said: “We are pleased to continue the process of listing the company on the ADX secondary market, under the name of “FAM Holding”. The company has been transformed into a private joint-stock company with a capital of AED50 million ($13.6 million) after receiving approval from the Abu Dhabi Stock Exchange, and we expect to receive final approval. soon.
Dr Mousa added: “Since its inception in 2009, FAM Holding has grown rapidly to become one of the leading real estate companies in Sharjah. In recent years it has further expanded its operations in the northern emirates covering Ajman and Ras Al Khaimah”.
“With the UAE topping the list of countries recovering from the pandemic, the local economy has shown significant growth over the past 18 months. This growth is expected to continue to increase over the coming years, fueled by growing momentum in non-oil industries such as real estate, where FAM already has a substantial presence,” he added.
This listing offers various prospects for business expansion, especially with the growing demand from a large number of investors for freehold real estate, for personal or investment purposes, in order to capitalize on the rental yield. raised.
“Listing on the second ADX market is the beginning of a new period of growth and development for FAM Holding. The company has been a major player in the real estate sector, with an investment portfolio worth 2 billion of AED and 5,750 residential apartments in the UAE. The company has always had an interest in growing within its sector, especially because it has exceptional growth prospects. The main objective of FAM Holding is to maximize revenue and sales; and its stock listing plan will create long-term shareholder value,” said Dr. Mousa.
FAM Holding is one of the fastest growing property developers in the UAE. The company focuses on developing quality properties at affordable prices for middle-income families, with flexible payment terms ranging from 6 to 10 years. The company has attracted domestic and international investors willing to invest in the UAE real estate market.
As part of its long-term strategy, the company intends to expand into several markets in the region. – TradeArabia Press Service