DAMAC Properties (DAMAC) has confirmed that the proposals made by the company to expand its alliance with US President-elect Donald Trump had been declined, due to conflict of interest. This is according to a statement made by Niall McLoughlin, Senior Vice President with the company. The proposals were worth a combined USD2bn. DAMAC’s existing portfolio of Trump-branded properties are thus not expected to further grow in the near term. (Gulf News) DAMAC (DU): AED2.69 as of 11 Jan, Rating: Neutral, TP: AED2.30/share, MCap: USD4,434mn, DAMAC UH/DAMAC.DU
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