Arab Today, arab today abu dhabi stocks in 2week high on aldar merger talks
Last Updated : GMT 06:58:51
Arab Today, arab today
Arab Today, arab today

Abu Dhabi stocks in 2-week high on Aldar merger talks

Arab Today, arab today

Arab Today, arab today Abu Dhabi stocks in 2-week high on Aldar merger talks

Abu Dhabi - Arabstoday

Abu Dhabi stocks rose the most in two weeks after Aldar Properties and Sorouh Real Estate, the emirate’s biggest developers, said they are considering a merger that may create a company with US$15bn in assets. Aldar, Abu Dhabi’s biggest property developer, and Sorouh, the emirate’s second-largest real estate firm, rallied to the highest in almost nine months. The benchmark ADX General Index rose 1.1 percent, the most since February 26, to 2,614.83, at the 2 pm close in the emirate. The Bloomberg GCC 200 Index fell 0.2 percent. The two companies, which are involved in Abu Dhabi’s drive to transform itself into a tourism and business hub, said in a joint statement yesterday that they set up a team to study a possible merger with the “blessing” of the sheikhdom’s government. The team will present a plan in the next three months. Aldar and Sorouh advanced 9.8 percent, the most since October 2008 and December 2009, respectively. They both closed at AED1.34, their highest since June. “The deal signals that the UAE government is committed to building a strong real estate development company that could withstand the current market turmoil in real estate,” said Nabil Farhat, a partner at Abu Dhabi-based Al Fajer Securities. “Both companies will eventually benefit under the new entity by getting new government projects, and access to cheap liquidity under the new structure. It is a win-win situation for all parties.”

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today abu dhabi stocks in 2week high on aldar merger talks Arab Today, arab today abu dhabi stocks in 2week high on aldar merger talks

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today abu dhabi stocks in 2week high on aldar merger talks Arab Today, arab today abu dhabi stocks in 2week high on aldar merger talks

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%

GMT 13:43 2017 Monday ,15 May

Oman share index declines marginally
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday