LUXEMBOURG (dpa-AFX) - Aroundtown subsidiary Grand City Properties does not intend to pay a dividend for 2023. The company justified this in a statement published in Luxembourg on Tuesday with further increased uncertainties on the markets. The Board of Directors has now decided to take this step. It is unclear what impact the uncertainties will have on debt, transactions, valuations and financing. Against this background, it makes sense to proceed conservatively. Grand City Properties wants to continue to focus on debt reduction. The Group had already announced a dividend waiver in mid-March. Aroundtown, which is listed on the MDax, would have been the main beneficiary of the dividend. Grand City Properties itself is listed on the SDax./jha/gl