So Dubai-Inc creeps towards becoming a world dominating entity. In fact, one news report claimed that the upcoming "merger" of Dubai Holding's real estate entities in to Emaar (they're being swallowed, come on, they sacked all their staff months ago) would create the largest corporation on earth.
Well, we have the biggest building, why not shoot high...
The news caused Emaar stocks to plummet, ostensibly because of the lack of data around the actual value of the assets being incorporated. It's a fair comment, as there is precious little information on any of them, as they're all private companies.
As the dust starts to settle in the sandpit and the bare bones of the restructure start to become visible, one just wonders whether anyone really knows what it's going to look like when it's done. I used to have faith that they did. I'm not so convinced anymore.
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