DUBAI (Zawya Dow Jones)–The merger of Dubai’s Emaar Properties Emaar Properties PJSC (EMAAR.DFM) and three state-controlled property firms could prompt a wave of consolidation in the struggling emirate, analysts say.
Emaar’s Merged Entity to Have $3.65 Billion in Debt (Update1) (Bloomberg)
June 28 (Bloomberg) — Emaar Properties PJSC , the Middle East’s largest real-estate developer, said the entity created by its merger with three state-controlled competitors will have 13.4 billion dirhams ($3.65 billion) in debt obligations. Emaar shares dropped the most since November.
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