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Aldar raises synergy estimate from Sorouh mergerAbu Dhabi-listed developer Aldar Properties has raised its estimate of the value of synergies from its merger with another property firm, Sorouh, by 45 per cent to Dh145-150 million ($39.5-40.9 million) annually. The company&rsquo More… |
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Aldar, Sorouh merger takes effectThe merger between Abu Dhabi’s Aldar Properties and Sorouh Real Estate became effective at the close of trade on June 27, a statement said. This follows the publication of a ministerial resolution by the More… |
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Aldar, Sorouh see merger closing by June 30Abu Dhabi property firms Aldar Properties and Sorouh Real Estate said the two companies expect to close their state-backed merger by June 30, pending a ministerial resolution approving the deal. More… |
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Abu Dhabi property firms' Q1 income fallsAbu Dhabi's Aldar Properties, set to come together in a state-backed merger with Sorouh Real Estate, reported lower quarterly earnings on Tuesday in a fresh indication of continued weakness in the UAE capital's property sector. More… |
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Shareholders approve Aldar-Sorouh mergerShareholders of Abu Dhabi's Aldar Properties have approved the developer's plans to merge with rival Sorouh Real Estate at a meeting on Sunday, a spokesman for Aldar said. The boards of both state-linked firms proposed a m More… |
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Mubadala converts Aldar bonds to boost capitalAbu Dhabi's Aldar Properties , which plans to merge with smaller rival Sorouh Real Estate, on Tuesday said its largest shareholder Mubadala converted bonds in the company to shares, boosting its capital by nearly 10 percent More… |
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Sorouh Q4 net profit jumps 21pcAbu Dhabi's Sorouh Real Estate , which has agreed to merge with Aldar Properties, has reported an 21.2-per cent rise in fourth-quarter net profit, driven by income from government projects and higher leasing revenue. Abu Dhabi More… |
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Aldar, Sorouh merger vote on Feb 21Shareholders of Abu Dhabi state-linked firms Aldar Properties and Sorouh Real Estate will vote on the proposed merger next month and the deal is expected to be completed by end-June, the companies More… |
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Sorouh hits new high on Aldar merger dealAbu Dhabi's Sorouh Real Estate jumped to a 25-month high on Monday after the company reached a long-awaited merger agreement with Aldar Properties , but most regional markets fell. Trading v More… |
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UAE property firms agree to $15bn mergerAbu Dhabi's two biggest property firms, Aldar Properties and Sorouh Real Estate, have agreed on a state-backed, all-share merger that would create a firm with $15 billion in assets and could help to stabilise the emirate More… |
