Arabian Business reported that Dubai based construction giant Emaar is planning to float on the London Stock Exchange next year in a listing that could value the firm at USD 40 billion. Arabian Business quoted Mr Mohammad Alabbar chairman of Emaar as saying that "Emaar is considering listing on the London Stock Exchange and the estimated timeline is the next 12 months."

Sources close to the Emaar said that the listing would be in the form of a mother company covering the entire Emaar Empire, its Dubai Financial Market listing, its India listing and its 30% stake in an economic city under construction in Saudi Arabia.

Emaar's projects include Burj Dubai, an under construction tower which is already the world's tallest building, and the sprawling Dubai Mall. Outside the United Arab Emirates, it is developing the USD 26 billion King Abdullah Economic City on the Red Sea coast of Saudi Arabia.