Deal off after it was initially expected to complete by the end of 2017
Eshraq Properties delayed merger with Reem Investments is off after the two companies failed to reach agreement on “commercial matters” relating to the deal.
Abu Dhabi’s Eshraq Properties announced that it was an advanced stage for a potential acquisition of Reem Investment’s – a privately-owned master developer with assets including Najmat on Reem Island and Rawdhat in Abu Dhabi – entire business and assets in September last year.
“The strategic investment of Reem Investments in Eshraq Properties will not be completed,” Eshraq Properties announced in a statement on their website. “Further to discussions and deliberations, the parties have not been able to agree on major commercial matters underpinning the deal.”