The Dubai Mall. Shutterstock.
Developer Emaar Properties has completed its merger with retail arm, Emaar Malls, in a deal that delists the mall operator, the Emirati multinational announced Nov. 22.
Emaar Properties’ shareholders greenlit the move last month at a general meeting, Arabian Business reported. The deal entails that the transfer of Emaar Malls’ assets and liabilities to a wholly-owned subsidiary of Emaar Properties, which will result in the latter’s share capital reaching $2.2 billion.