DAMAC Properties PJSC , a leading UAE developer, announced that Morgan Stanley Capital International (MSCI) have added the stock to its UAE index, effective from June 1, 2017.
DAMAC Properties has joined the benchmark which includes 23 emerging markets countries, including the United Arab Emirates. The MSCI United Arab Emirates (UAE) Index is designed to measure the performance of the large and mid cap segments of the UAE market, and now consists of ten listed companies across a range of sectors including real estate, financial, industrial and telecommunications, amongst others.
Amr Aboushaban, Head of Investor Relations, DAMAC Properties said: “DAMAC’s inclusion in the MSCI is testament to the confidence that institutional investors have in the strength of our company, backed by robust fundamentals and track record, and its leading position in the regional real estate sector.”
“We are indeed proud of this achievement as it clearly exemplifies our solid financials and high growth potential and further supports our positioning as a high-yielding stock. This provides the opportunity for us to be accessible to a wider range of global investors and enhances our efforts to diversify our shareholder base, while improving overall our stock liquidity and unlocking value.”
Source: Damac Properties