Dubai: Fast becoming a Global City

View of Dubai Skyline
View of Dubai Skyline

On Friday Dubai Media  Office issued a statement that  four large development groups: Emaar Properties PJSC, Dubai Properties LLC, Sama Dubai LLC and Tatweer LLC have started merger talks aimed at facing up to the current challenges and also to transform Dubai into a Global city. The big four collectively hold  one of the largest land banks in  Dubai.

Dubai  Government investment arm Dubai Holdings  controls  Sama Dubai and Tatweer;  Dubai Government has a share of 32.5 of Emaar properties which is completing  Burg Dubai the World’s tallest Tower.

Emaar properties is been advised by Royal Bank of Scotland while Dubai Holdings is been represented by Merrill  Lynch International.

In  a  communiqué released  ;  discussions are being held with the relevant regulatory authorities , assessment of merits in relation to the proposed merger, valuation of the various entities and structures of the transactions.

Mohammad Al Gergawi, chairman of Dubai Holdings, said “Consolidating these three companies with Emaar is a natural progression in the evolution of the Dubai real estate landscape, providing benefits to all stakeholders. By joining forces, we will give the larger combined entity an unparalleled platform to optimise opportunities in its domestic and international markets. The combined entity has a clear and concise strategy, better positioning Dubai as a world-leading hub in real estate development and management”.

Mohammad Ali Al Abbar, chairman of  Emaar, said, “We believe that there could be exceptional synergies between Emaar and Dubai Holdings’ key real estate businesses. These comprehensive discussions are driven by a shared vision regarding the consolidation of our respective visible success stories to date and the creation of a world-class group which would be ideally positioned to dynamically help shape and support the ongoing development of Dubai as a world-leading hub. We look forward to working with Dubai Holdings with a view to completing these discussions soon and ensuring value accretion to our existing shareholders”.

Public Transport in Dubai

Dubai rings a bell when you are looking for an enthralling place to travel. However, it can be very expensive to stay in Dubai especially when you are not so familiar with how you can cut cost while enjoy the city at the same time.One of the things that can eat up your budget is the transportation expenses you will incur when you are in Dubai. To cut down on costs, you must get familiar with the different types of transportation in Dubai as you jump from one place to another.
Continue reading Public Transport in Dubai

Addictive Shopping in Dubai

gold soukWhenever we say the word Dubai, another word from the Oxford dictionary automatically gets affixed to it and i.e. ‘shopping’. Shopping in Dubai doesn’t always mean getting more for lesser money, but it also is the enjoyment and fulfillment that you derive from wandering and maybe getting lost in large malls :)  gold shopping in souks and buying smaller antiques on shopping streets.
Continue reading Addictive Shopping in Dubai