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Dubai Holding completes property merger
Government-owned Dubai Holding announced on Saturday it had merged the portfolios of its property firms…
August 23, 2009 12:01 by kippreport
Government-owned Dubai Holding announced on Saturday it had merged the portfolios of its property firms Dubai Properties, Sama Dubai, Tatweer as part of the conglomerate’s long-awaited revamp, it said in a statement.
Dubai Holding also confirmed that the formation of the business part unit is complete.
Last week, the firm revealed it is undergoing significant restructuring to help cope with the effects of the economic crisis; it plans to organize its portfolios into four categories: property, business parks, hospitality and investments.
“Existing project plans will remain in place,” Dubai Holding said in the statement.