View of Dubai Skyline
On Friday Dubai Media Office issued a statement that four large development groups: Emaar Properties PJSC, Dubai Properties LLC, Sama Dubai LLC and Tatweer LLC have started merger talks aimed at facing up to the current challenges and also to transform Dubai into a Global city. The big four collectively hold one of the largest land banks in Dubai.
Dubai Government investment arm Dubai Holdings controls Sama Dubai and Tatweer; Dubai Government has a share of 32.5 of Emaar properties which is completing Burg Dubai the World’s tallest Tower.
Emaar properties is been advised by Royal Bank of Scotland while Dubai Holdings is been represented by Merrill Lynch International.
In a communiqué released ; discussions are being held with the relevant regulatory authorities , assessment of merits in relation to the proposed merger, valuation of the various entities and structures of the transactions.
Mohammad 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 optimise opportunities in its domestic and international markets. The combined entity has a clear and concise strategy, better positioning Dubai as a world-leading hub in real estate development and management”.
Mohammad Ali Al Abbar, chairman of Emaar, said, “We believe that there could be exceptional synergies between Emaar and Dubai Holdings’ key real estate businesses. These comprehensive discussions are driven by a shared vision regarding the consolidation of our respective visible success stories to date and the creation of a world-class group which would be ideally positioned to dynamically help shape and support the ongoing development of Dubai as a world-leading hub. We look forward to working with Dubai Holdings with a view to completing these discussions soon and ensuring value accretion to our existing shareholders”.
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Dubai seems like an exciting city. Always growing and with New innovations. Go Dubai!
I reside here in Canada and have watched the fascinating documentary on the Dubai’s construction of its mega cities, the tallest
buildings.When Dubai’s leaders have accomplished their visions,and filled those cities with millions of people, the two crticial things
Dubia would still constantly require would still be fresh water and food.How would their current visionaries meet this challenges?
Could they possibly move the vast sand dunes to create worlds largest freshwater lake? Would they next embark on building
“Agricultural city , where tall buildings could be build to grow genetically enginered food crops ? If Dubai’s leaders could accomplish
such frenzy of building mega cities,shouldn’t they incorporate these two critical multi-generational projects? If I was “their current
future vision” I would serioulsy venture to bring these two missing future needs into reality.But this is just a imagination thats
only being talked about yet no country,seriously had tackled this freshwater issue,except in case of Singapore,where its leaders
have most of its water from sea water,thats converted to fresh water.
Now that the World is going through unpredictable economic challenges,such visionary projects by any nation could be that
jolt that gets the world economy going again.Nation leaders have to think and create ever lasting generational projects that
would be so much appreciated by its people in not so distant future.
my initial thinking about Dubai was totally changed when i visited the City in 2007, its well planned and beautiful, i had dreamed to work in Dubai but unfortunatly could noy get any opening, i am again planning to visit my dream city in September 2009, and sure to find it more beautiful then before
kapan Indonesia berkembang seperti di Dubai…
Dubai kota impian yang akan saya kunjungi!
Dubai is one of the seven emirates and the most populous city of the United Arab Emirates. Dubai is always being growing and booming in present and also it will show great growth in the future. It has now become fast Global City.
me gustaria recibir informacion y fotos de dubai, gracias, saludos
me gustaria recibir informacion y fotos de dubai. saludos
I am from Bangalore, India , i have seen dubai in photo and internet, it is very beautiful, i have dream to see it real and work in dubai.
i m looking job in dubai,
I’ve heard lot about Dubai more than any city of the world in recent times. with fascinating structures taking creative architectural designs to a higher level, it’ll b a dream come through to see me there in nearest future.
Dubai is the city where i have stay 8 years of mu life 1991-1999 but it was not that beautiful then now i hav recently visited bubai 2months ago it was soo awsome and i hav also seen palm jumeira and Atlantis hotel at the island and the incridible long and straight burj al dubai tower which is seen in evry part of dubai but i m still waiting for job in dubai and i know one day i will achive my target….
I will be in Dubai for three days. What is the best that I can see in that time?
Could you let me know that when is the Shopping Festival?
Dubai Shopping Festival will be tentatively held from 01 Jan 2010 – 28 Feb 2010.
I am from China,I like Dubai.I will be in Dubai.
I will be in Dubai for three days. What is the best that I can see in that time?
Hello.
Dubai is bankrupt.
You use SLAVES to build your cities and now you’re OUT OF BUSINESS.
I heard so much about dubai that i myself decide to do a research,and yes someday i will loved to visit dubai.That will be a dream come true for me.”Beautiful Dubai”
i live in california, from here dubai looKS like a fiction movie zero green metal, metal, heavy metal every way ,GO TO COSTA RICA INSTEAD GREEN IS LIFE!!!
1 day Dubai is gonna beat many Asian cities but cities like Tokyo r always gonna beat the Sheikh of Dubai in d competition of developing.1 thing amazing about Dubai is dat it has developed Burj Dubai.Also Palm Jumeirah is a wonderful creation.Its better dan Abu Dhabin as rules r not strict in case of girls’ dresses.
well this fascinating city should face any challenges and establish its own distinct footstep in this world
well…. Dubai says that it’ll keep building lots of buildings ie; more malls, hotels etc…But how could they build if there’s some recession…I mean look at those tiring indian workers. They try to work all day in the heat. Yet when they have nothing to do, they just walk around the beaches or streets and stare at the women. It’s true. Most don’t care..they just do whatever they want. It’s as if they don’t like their job. Dubai is like Las Vegas. The only difference…it has a beach. I was so right. There are way too many buildings here and construction.
Great job in maintaining and updating your blog. You must have a resonably stable and fast broadband. Sigh
wish I can say the same with mine.
ive been in dubai its the best city in the whole wide world and im only 10 years old