Aabar Increases Stake in Arabtec
Aabar Investments, through its unit Aabar Real Estate, has doubled its position in Arabtec to 10.45%. It is the biggest shareholder of Arabtec. In terms of market value, Arabtec is the largest builder in the United Arab Emirates.
Aabar Investments is owned by International Petroleum Investment Company (IPIC). It was delisted from the Abu Dhabi Securities Exchange on September 14, 2010 and converted to a private joint stock company.
In 2010, Aabar created a real estate subsidiary called Aabar Properties LLC.