Emaar Properties is in a stronger position than it seems, due to a merger cancellation, assets abroad and alternative financing options, a Deutsche Bank report says.
The Dubai master developer, which is building the world’s tallest tower, last week announced the cancellation of merger plans with Dubai Properties, Sama Dubai and Tatweer, the property units of Dubai Holding.
The merger scrapping was welcomed by most analysts and Emaar shareholders. The company’s stock rose 15 per cent the next day to Dh2.94, the largest gain in 13 months.
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