A conglomerate controlled by the ruler of Dubai said it has consolidated a number of its real estate business as part of a broader restructuring effort.
Dubai Holding, said on Saturday that consolidated its Dubai Properties Group, Sama Dubai and Tatweer divisions into what he called the “Property Vertical”.
Tatweer is perhaps best known for announcing plans to build a Tiger Woods designed golf course and other attractions, as part of Dubai land amusement complex. And the two property companies are expected to merge with other Dubai-based developer Emaar Properties.
Dubai Holding, said a second unit, the “vertical business parks”, consists of its media, technology and other office parks in Dubai.