Shares for Emaar Development will be added to the Dubai Financial Market general index (DFMGI) and to sector indices on Sunday.

The shares have been added to the DFM General Index and Real Estate & Construction sub-index. The inclusion of the shares lifts the number of companies included in the index to 37, according to UAE state news agency, WAM.

The number of outstanding shares of Emaar Development is 4 billion, while the percentage of free float shares as per the index rules is 25%. The number of shares included in the index sample is 1 billion shares.

In November, the parent company Emaar Properties sold a 20% stake or 800 million shares of Emaar Development in an IPO that raised $1.31bn.