DAMAC Properties, which specialises in the Dubai luxury market, is to float on the London stock exchange.
The company, which sold a large number of Dubai properties to British buyers at the height of the boom, was badly hit by the property market collapse which wiped 50% off peak 2008 prices.
DAMAC now thinks it could raise some £310m on the stock exchange.
The firm is currently building golf courses in Dubai with Donald Trump, plus a Hollywood-themed residential and retail complex.
DAMAC, founded in 2002, gave away yachts and Lamborghini cars to tempt buyers during the downturn, but it has now taken stalled projects out of mothballs and announced new ones as the market recovers.
Property prices and rents have risen by more than 20% in the last year – prompting speculation about a new bubble, with a warning from the International Monetary Fund.
However, DAMAC chairman Hussain Sajwani said: “We think Dubai is in the beginning of a growth cycle. Demand is now exceeding supply, which is why rents are going up.”
DAMAC expects to list its shares early next month after roadshows to attract investors in London, the Gulf and the US.
DAMAC has chosen London rather than Dubai for a listing because the firm wants a larger investor base.
So far this year, Foxtons, Countrywide and house builder Crest Nicholson have floated on the London stock exchange. Their shares are up 35%, 57% and 75% on their offer prices.
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