Amlak Finance Plans Strategic Sale of Investment Properties
Amlak Finance P.J.S.C. announces a strategic move to sell investment properties, including Ras Al Khor plots, pending regulatory approval.
Summary
Amlak Finance P.J.S.C. plans to sell some investment properties, including Ras Al Khor plots, after regulatory approval, to streamline operations and enhance liquidity.
Amlak Finance P.J.S.C., a prominent finance company based in the United Arab Emirates, has announced a strategic decision to sell some of its investment properties, including the notable Ras Al Khor plots. This decision was made during a board meeting held on February 18, 2025, which saw the presence of six board members and achieved an impressive quorum of 86%.
The decision to divest these properties comes as a calculated move to streamline the company's operations and enhance its liquidity position. The sale is contingent upon obtaining the necessary approvals from relevant regulatory authorities, underscoring Amlak's commitment to compliance and strategic growth.
By authorizing the Executive Management to set a date for the shareholders' meeting and the publication of the invitation, Amlak Finance is demonstrating proactive governance and operational agility. This move is expected to unlock significant value for the company, allowing it to reinvest in core business areas and explore new growth avenues.
Amlak Finance, known for its adherence to Islamic Sharia’a principles, continues to focus on innovative financing and investing activities. The sale of these investment properties aligns with its broader strategy to optimize its asset portfolio and focus on high-yield opportunities.
Given the strategic nature of this decision and Amlak's robust governance framework, investors may consider holding their positions as the company navigates this transition. The anticipated liquidity boost from the property sales could potentially enhance shareholder value and support future growth initiatives.
Source
Summary
On 18 February 2025, Amlak Finance held a board meeting from 3:00 PM to 5:00 PM, with six board members present, achieving a quorum of 86%. The board decided to call a shareholders' meeting to approve the sale of some of the company's investment properties, including plots in Ras Al Khor, pending regulatory approval. They also authorized the Executive Management to set the meeting date and publish the invitation in coordination with regulatory authorities. Additionally, the board discussed regular business matters. The authorized signatory for the meeting was Lama Takieddin, the Head of Corporate Governance and Company Secretary.
