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.
Emaar downplays debt burden of Dubai property merger (AFP via Yahoo! News)
Dubai real estate giant Emaar Properties said on Sunday that the debt of the entity to be created through its merger with three other property developers will not exceed 3.64 billion dollars, seven percent of combined assets.
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