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| Consolidating three firms with Emaar is a natural progression in the evolution of the Dubai real estate landscape |
Dubai's leading real estate developer, Emaar Properties PJSC (Emaar) and Dubai Holdings LLC (Dubai Holdings) said they are in advanced discussions for an intended combination of the real estate firms such as Emaar, Dubai Properties LLC, Sama Dubai LLC and Tatweer LLC.
HE Mohammed Al-Gergawi, Chairman of Dubai Holdings, said: "Consolidating these three companies with Emaar is a natural progression in the evolution of the Dubai real estate landscape, providing benefits to all stakeholders. By joining forces, we will give the larger combined entity an unparalleled platform to optimize opportunities in its domestic and international markets."
The merger talks come within the resolute dedication to transform Dubai into a global city since construction and development is a primary engine of growth. Dubai will thus rise up to the current challenges with hallmark agility and responsiveness. The consolidation of these leading real estate entities will not only build on the remarkable achievements in Dubai during the last three decades, but more importantly, marks the start of a new chapter in the annals of real estate globally.
