Arabian Construction (ACC) is the latest among a string of developers weighing an IPO here at home. The family-owned property developer is reportedly sounding out banks for advisory roles on its potential public debut, Bloomberg reports, citing people it says are familiar with the matter.

What we know: The share sale could see the Abu Dhabi-based firm rake in “several hundred mn USDs,” the sources said. While there’s no publicly available information on either the size of the sale, or its timeline, Abu Dhabi-based firms usually choose ADX as their listing venue.

More construction + real estate firms have been eyeing IPOs recently: Alec Engineering & Contracting’s USD 500 mn Dubai listing, Dubai Holding’s plans to float two of its property portfolio units, and Sharjah-born Arada’s potential IPO are also planning their public offerings. The busy pipeline comes amid an ongoing real estate boom across the UAE, with Dubai, Abu Dhabi, and the northern Emirates all seeing a large increase in real estate transactions in 2024 and rising prices.

And the sector’s stocks have been performing well: Real estate stocks like ADX-listed Aldar Properties and DFM-listed Emaar Properties climbed about 70% over the past year, with companies reporting record earnings, Bloomberg reports.

About Arabian Construction: Founded in 1967 by the Mehrebi and Mikati families in Beirut, ACC has grown into one of the largest contracting firms in the region, specializing in high-rise developments, mixed-use projects, and infrastructure development. While the firm’s GCC operations are based in Abu Dhabi, ACC is headquartered in Beirut and operates across 12 countries within and beyond the MENA region. The company is behind projects like Abu Dhabi’s Sheikh Zayed Grand Mosque, Emirates Palace Hotel and the Address Sky View in Dubai.

ALSO IN THE PIPELINE-

  • ADQ-backed Etihad Airways was expected to kick off the region’s first IPO of a major airline in nearly a decade last week ;
  • Abu Dhabi conglomerate International Holding Company’s investment arm 2PointZero is gearing up for an IPO on the ADX ;
  • Abu Dhabi Investment Group (ADIG) is eyeing listings for its financial unit and energy subsidiary this year;
  • Dubizzle Group tapped banks for a 2025 IPO on the Dubai Financial Market (DFM);
  • Hospitality group Five Holdings also tapped advisors for a potential listing;
  • Amanat Holdings is planning to list its education and healthcare units;
  • Shisha producer Advanced Inhalation Ritual is also rumored to potentially IPO.
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