The US$13 billion (Dh47.74bn) merger of Abu Dhabi's largest developers could free up stalled projects in the city as the new merged entity rethinks its strategy.
Yesterday, Aldar Properties and Sorouh Real Estate agreed to form one company. It will be known as Aldar Sorouh, the third-biggest property company in the Middle East.
The companies also said that the Abu Dhabi Government had agreed to pay Sorouh Dh3.2bn for 700 to 800 flats at its The Gate scheme on Reem Island.
Abu Dhabi's new property giant could breathe life into stalled projects - The National
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