Emaar Properties, the United Arab Emirates’ biggest real-estate developer, is evaluating the assets of three Dubai Holding LLC companies before a planned merger, Managing Director Ahmed Al Matrooshi said.
'There are still a lot of parties working on an evaluation of the assets,' al-Matrooshi said in an interview today. 'It will take a little time.'
In June, Emaar said it was in talks to combine with three state-controlled competitors -- Dubai Properties, Sama Dubai and Tatweer -- as it aims to control the supply of new buildings amid a glut of homes. The developer has said the merger will generate 'exceptional' cost savings.