The corporate logo of EMAAR is seen in Dubai, United Arab Emirates, December 28, 2018. Picture taken December 28, 2018. (Reuters)

PIF acquires 25% stake in Emaar Economic City

Saudi Arabia’s Public Investment Fund (PIF) acquired a 25 percent stake in the Emaar Economic City (EEC) on Monday. The PIF and Emaar announced the completion of the transaction; through which PIF will become a major shareholder in EEC with a 25 percent stake. The transaction was completed after obtaining required regulatory approvals. The transaction...

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