Dubai Investments PJSC has picked banks to help list a unit behind one of the emirate’s largest mixed-use developments, according to people familiar with the matter, joining a wave of firms tapping the city’s property boom.
Banks including Citigroup Inc., Emirates NBD Capital and HSBC Holdings Plc are working on the potential initial public offering of Dubai Investments Park Development Co., the people said, requesting anonymity to discuss private information.
A spokesperson for Dubai Investments — which counts Investment Corporation of Dubai as its largest shareholder — as well as representatives for the banks, declined to comment.
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