Dubai Weighs IPO of Construction Firm ALEC Amid Property Boom
- Investment Corp. of Dubai is said to consider listing ALEC
- Dubai’s ICD bought ALEC from Abu Dhabi’s Al Jaber in 2017
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Dubai is considering an initial public offering of construction firm ALEC amid a property boom in the emirate that’s pushed commercial and residential real estate prices close to record levels.
State-backed Investment Corp. of Dubai has held early talks on a potential listing, people familiar with the matter said, asking not to be identified as the information isn’t public.