Aldar Properties and Sorouh Real Estate, Abu Dhabi's two largest developers, moved a significant step closer to a US$15 billion (Dh55.09bn) merger last night as the pair began due diligence on the deal and appointed advisers. The firms have picked some
Due diligence process is under way on the potential state-backed merger of Abu Dhabi developer Aldar Properties and smaller rival Sorouh Real Estate, the two firms said, also naming financial advisers for the deal. Aldar and Sorouh said in March they
Aldar Properties PJSC and Sorouh (SOROUH) Real Estate Co., Abu Dhabi’s biggest developers, said the due diligence process for a potential merger will “take a number of months.” “A steering committee including representatives from Aldar and Sorouh has