Dubai talks on Emaar merger

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Two Dubai government-related groups on Friday said they were in advanced talks to merge Emaar Properties, the Middle East’s largest real estate company, with three developers owned by the emirate’s ruler.

The move appears intended to deliver cost savings by merging Emaar, which is building the world’s tallest tower in Dubai, with Dubai Properties, Sama Dubai and Tatweer, the developer behind the Dubailand theme park, which is yet to be built.

The latter three companies are part of Dubai Holding, which is owned by Sheikh Mohammed bin Rashid al Maktoum, Dubai’s ruler.