A subsidiary of Aabar Investments has received regulatory approval to buy a further 100 million shares in Arabtec, strengthening the Abu Dhabi state-run fund's hold on the Dubai-listed builder, according to a bourse filing on Monday.

Should it buy the permitted number of shares, Aabar's stake would rise to 37.27 per cent. As of Sunday's market close, Aabar owned 35.6 per cent of Arabtec, data from the Dubai Financial Market shows.

Aabar must complete share purchases by July 25, 2014, the statement said. It is also not obligated to buy the shares.-Reuters