Real estate related economic and financial news covering the MENA region.
Merger candidates Aldar, Sorouh fall back on profit booking
Jun 14, 2012
The Abu Dhabi equity measure ADXGI closed insignifcantly lower at 2,446.42 points. Abu Dhabi National Energy Company or Taqa gained against the trend, closing 1.70% higher at Dhs1.18. The emirate's largest developers and merger candidates Aldar Properties and Sorouh Real Estate fell 0.90% and 0.97%, respectively, after both firms recovered significantly in recent days on news that their merger talks were advancing. Some 45.7m shares were traded, valued at Dhs81.9m.