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Abu Dhabi realty firms advance merger talks

Posted on 08 November 2012

Abu Dhabi’s top two developers - Aldar Properties and Sorouh Real Estate - said their government-backed talks were at an advanced stage. The two companies also both reported higher quarterly profit, albeit with impairments and asset writedowns as valuations fell, highlighting glum conditions.
Their merger talks were started against the backdrop of continuing oversupply and declining house prices. Prices in Abu Dhabi were expected to fall 5% this year, a Reuters poll found………………………………………..Full Article: Source


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