Discussions regarding the merger of Dubai mortgage companies Amlak Finance and Tamweel are nearing completion and should be announced soon, Sultan al Mansouri, the Minister of Economy, said today.
Mr Mansouri is serving on a special committee set up last month to co-ordinate a proposed merger between the two Dubai-based home finance companies, which have been adversely affected by the effects of the global financial crisis. Amlak and Tamweel were supposed to join under the umbrella of Real Estate Bank, according to announcements made in November.
“We are almost finalised with the issue now. And we will let you know,” Mr Mansouri said during a tour of the Abu Dhabi Co-operative Society at Abu Dhabi Mall.
No comments:
Post a Comment