The merger announced in June between Dubai’s two largest master property developers, Emaar Properties and Dubai Holding Commercial Operations Group, will change the shape of the industry in Dubai, says the ratings agency Moody’s Investors Service.

In its latest Dubai property report, Moody’s says the consolidation of Emaar and DHCG would create a dominant entity in thelocal market. Once the merger is concluded, most likely before the end of this year, the new company would have strengthened bargaining power with contractors and benefit from economies of scale, the report said. The merged company would also have access to a substantial land bank.

The National