Aldar Properties has raised its Foreign Ownership Limit (FOL) to 49%, from the previous 40%, following shareholder approval at Aldar’s 2018 annual general meeting, Zawya reports, adding that the raise was implemented starting from April 15 by the Abu Dhabi Securities Exchange (ADX).

“Active engagement with international investors has been an important focus for Aldar over the past few years and we have seen significant growth in our international shareholding over this time,” Talal Al Dhiyebi, CEO of Aldar, said.

He added that the increase in FOL will support further growth in the company’s international shareholding, as well as providing greater liquidity in the stock.

Last month, Aldar participated in a roadshow to New York, among other Abu Dhabi Securities Exchange listed companies, presenting Aldar’s equity proposition to a broad range of investors.