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Damac increases its stake in overseas subsidiary unit from 20% to 45% Waheed Abbas/Dubai Photo: Wam Dubai’s largest private developer seeks to strengthen its international operations Damac Properties, the largest private developer in Dubai, on Monday announced that it increased stake in its overseas subsidiary Damac International Ltd from 20 per cent to 45 per cent. The move comes following a bid to strengthen its international operations. A board meeting was held on Sunday, which gave the approval for increasing the stake in the company. The Dubai-listed developer said Damac International Ltd indirectly owns 75 per cent of Nine Elms real estate project in London and is also working on a resort project in the Maldives.

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