Construction
Arabtec Surges Amid Talks to Combine With Abu Dhabi’s Trojan
(Bloomberg) — Arabtec Holding shares soared in Dubai after the company started talks to merge with Abu Dhabi-based Trojan Holding.
The stock advanced as much as 13%, the steepest intraday gain since July 2017, as Arabtec said the entities began a study to potentially combine their construction businesses and may merge after technical, financial and legal reviews. It didn’t provide further details.
The talks come as a property-market slowdown weighs on companies in the United Arab Emirates. Property prices in the UAE, the second-biggest Arab economy, have dropped about 27% since October 2014 amid excess supply and sluggish economic growth.
S&P Global Ratings expects prices in Dubai, the Middle East’s business hub, to fall by another 5% to 10% this year.
Arabtec’s first-half profit plunged 49% as contracts dried up. The company, controlled by Abu Dhabi’s Aabar Investments PJS, said last year it’s working with Moelis & Co. on restructuring debt.
Arabtec shares were up 11% at 12:51 p.m. local time, trimming their year-to-date decline to 6.8%. The stock has underperformed Dubai’s benchmark index, which is up 14% in 2019.
–With assistance from Filipe Pacheco.
-
Economy3 weeks agoNumber of Workers in GCC Countries Increase From 2021 to 2025
-
OER Magazines1 month agoDossier Oman: Banking, Finance & Insurance Special Edition
-
Banking & Finance2 months agoSohar International Contributes OMR100,000 to Support Those Affected by Al Masarrat Weather Conditions
-
OER Magazines2 months agoOER, March 26
-
Oman2 weeks agoREVIEW: WHOOP and the Rise of Performance Luxury
-
Magazines2 weeks agoOER Magazine April 2026 Issue
-
Economy1 month agoOPINION: War, Climate, and the Costs We Choose Not to See
-
Alamaliktistaad Magazines2 months agoAl-Iktisaad, March 26

You must be logged in to post a comment Login