| 02.06.2009 - Nakheel to merge with DMCC property arm |
| From FT: The real estate arm of Dubai Multi Commodities Centre has merged with Nakheel, the offshore developer behind the Palm Island off Dubai’s coast, in another property merger as the emirate’s real estate sector continues to take a beating. The merger, announced late on Sunday by both companies, illustrates ongoing consolidation in the sector as government-owned companies streamline operations amid the real estate crash.........Full Article (Subscription Required) : Source |