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Emaar, Dubai Holding merger to create real estate giant worth $ 52.8 bln

Posted on 29 June 2009

From Khaleejtimes.com: Emaar Properties PJSC, the Middle East’s largest real estate developer, on Sunday said its merger with three Dubai companies would create a giant real estate group with an asset base of AED 194 billion (US$ 52.8 billion) and a debt of AED 13.4 billion, or roughly 7 % of the total assets.

In a letter posted Sunday on the Dubai Financial Market’s Web site, Chairman of Emaar Mohammed Al Abbar said its proposed merger with Dubai Holding subsidiaries Dubai Properties LLC, Samar Dubai LLC and Tatweer LLC would take up to four months……..Full Article: Source


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