Dubai: Emaar Properties expects to complete the planned merger with its retail arm Emaar Malls by year-end, adding that progress is being made to get the regulatory clearance from the UAE’s Securities & Commodities Authority.
It was in March this year that the Dubai master-developer confirmed such a plan of action, which would give it considerably more clout in leveraging the potential of Emaar Malls in a future valuation of Emaar Properties.
The statement by Emaar will dispel some doubts that had crept into investors’ minds after the SCA launched a review of another major stock market move – that of Hussain Sajwani owned Maple Invest acquiring the whole of Damac Properties. Maple Invest was offering Dh1.3 a share to investors holding the Damac share.