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Leading real estate developer FAM Holding has announced plans to list on the secondary market of the Abu Dhabi Stock Exchange (ADX), joining a growing number of family businesses listed on the UAE Stock Exchange.
Dr Faisal Ali Mousa, Chairman of FAM Holding, said: “We are delighted to continue the process of listing the company on the ADX Secondary Market under the name ‘FAM Holding’. The company has been transformed into a private joint-stock company with a previous acquisition of Abu Dhabi Securities Following the approval of the exchange, the capital is AED 50 million ($13.6 million) and we hope to get final approval as soon as possible.”
Dr Mousa added: “Since its establishment in 2009, FAM Holding has grown rapidly and has become one of the top real estate companies in Sharjah. In recent years, it has further expanded its presence in the northern emirate, including Ajman and Ras Al Khaimah. “
“With the UAE leading the list of countries recovering from the pandemic, the local economy has shown significant growth over the past 18 months. Non-FAM is expected to already have significant business in the oil sector such as real estate,” he added.
The listing offers multiple prospects for the company’s expansion, especially as there is a growing demand for freehold real estate from a large number of investors, whether for personal or investment purposes, to take advantage of high rental returns.
“Listing on the ADX Secondary 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 industry with a portfolio worth AED2 billion and 5,750 residential apartments in the UAE. It is always in its best interest to expand within the industry, especially as it has excellent growth prospects. FAM Holdings’ main objective is to maximise revenue and sales; its plan to go public will create long-term value for shareholders,” said Dr. Moussa .
FAM Holding is one of the fastest growing real estate 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 foreign investors keen to invest in the UAE real estate market.
As part of its long-term strategy, the company intends to expand into multiple markets in the region. – arab trade news agency
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