Furthermore, Emaar Properties and Emaar Malls confirmed to merge on 21 November 2021, according to a filing to Dubai Financial Market. Once the merger is complete, all assets and liabilities of Emaar Malls will belong to Emaar Malls Management, which is a wholly-owned subsidiary of Emaar Properties. This merge will see a increase in the share capital of Emaar Properties to AED 8.17B (USD 2.2B)
As reported by the real estate adviser CBRE Group Inc., average residential property prices in Dubai are increasing at the fastest-moving pace since February 2015 and, at the same time, its transaction volumes boosted 77% in August on an annual basis. The majority of buyers are also acquiring larger spaces amidst the latest trend for remote working due to the pandemic.