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Dubai developer Emaar to take over mall unit as coronavirus weighs

India city Dubai 2020 pandemic Coronavirus
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Emaar Properties PJSC, the Dubai-based developer of the world’s tallest tower, plans to take over its malls unit as the coronavirus pandemic exacerbates a property downturn in the Middle East business and tourism hub.

The shares of both companies climbed.The developer, which already owns 85% of Emaar Malls, proposed to pay 0.51 share for every Emaar Malls share, valuing the business at 24 billion dirhams ($6.5 billion).

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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