Emaar Properties to merge with Emaar Malls.

Emaar Properties, an Emirati multinational real estate development company, agreed to merge with Emaar Malls, a developer of premium shopping mall and retail assets. Emaar Malls shareholders (excluding Emaar Properties) will receive 0.51 Emaar Properties shares for every one Emaar Malls share, representing a remium of 7.1% to the closing price of Emaar Malls on March 1, 2021. On September 6, 2021, Securities & Commodities Authority issued its final approval pertaining to the proposed merger of the two companies.