Emaar cancels plans to merge with Dubai Holding

Posted On Thursday, 10 December 2009 02:00 Published by
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Dubai giant property developer Emaar said it has cancelled plans to merge with the government-owned Dubai Holding, saying it was 'economically unfeasible.'

DUBAI, - Dubai giant property developer Emaar said Wednesday it has cancelled plans to merge with the government-owned Dubai Holding, saying it was "economically unfeasible."

"The board of directors has decided today not to go ahead with the plan to merge the company with Dubai Holding, which was announced few months ago... Studies have proven that the plan to merge is economically unfeasible at the moment," the statement said.

Source: AFP


Publisher: I-Net Bridge
Source: I-Net Bridge

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