Hopes for a mammoth merger of real estate developers have buoyed Abu Dhabi's stock market in the last several months, but the market may now be strong enough to perform well even if the merger does not go through.
The emirate's two biggest developers, Aldar Properties and Sorouh Real Estate, announced in March that they were in talks on a state-backed merger that could create a company with about $15 billion in assets.
A tie-up between the firms, which have been hit hard by Abu Dhabi's property market slump, could benefit the stock market in several ways. Most importantly, it could help to support real estate prices in the emirate.
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