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Significance
On the same day, its new USD450mn desalination project, publicised as the most sustainable in the region, was reported to be on track for completion. DEWA, the emirate’s principal provider of power and desalinated water, is seeking to attract investors as it gears up to launch the first in a run of new major initial public offerings (IPOs) in Dubai.
Impacts
The reliance of companies targeted for IPOs on service charges levied on Dubai’s majority-expatriate population may deter some investors.
Dubai will showcase future deals to advertise its claim that it is still the most attractive investment location in the Gulf.
The IPO push will be personally driven by Dubai’s deputy ruler, Maktoum bin Mohammed bin Rashid Al Maktoum.
Keywords:
United Arab Emirates,
ME/NAF,
Gulf states,
Saudi Arabia,
economy,
industry,
politics,
social,
equities,
private sector,
public sector,
electricity,
water,
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2021
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