Aldar Properties PJSC and Sorouh Real Estate PJSC announced on 21 January 2013 that their respective boards of directors had voted unanimously to recommend a merger of the two companies to their shareholders. The proposed transaction is a merger of equals and would create a strengthened platform for sustainable growth.
The proposed merger between Aldar Properties and Sorouh Real Estate will, if effected, create a combined company with total assets of approximately AED 47 billion, including 77 million sq. m. of land. The boards of directors of Aldar and Sorouh believe that the combined company will benefit from diversified and growing recurring revenue, and a strong balance sheet and cash flow profile to support future growth.
