The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Middle Eastern deal of the year 2013: Aldar/Sorouh merger

Aldar/Sorouh $2.3 billion merger
Advisers Goldman Sachs, NBAD (steering committee); Credit Suisse (Aldar); Morgan Stanley (Sorouh)
return to the Deals of the Year 2013 index

Abu Dhabi has regained confidence since Aldar and Sorouh’s merger. Real estate and equity indices have risen. There has been a surge in new deals from state investment fund Mubadala, the biggest Aldar shareholder (a position that in part led Mubadala to a loss in 2010, because of fair-value write-downs).

Aldar and the less leveraged Sorouh used to be among Abu Dhabi’s largest developers. Meanwhile, real estate projects in Abu Dhabi leading up to the 2008 and 2009 UAE real estate crash were at times even more ambitious than those in the federation’s second biggest emirate, Dubai.

"A strong and stable real estate sector is crucial to the realization of Abu Dhabi’s vision," says Greg Fewer, CFO of Aldar. "Now a national real estate champion can better utilize infrastructure and develop a single land bank with greater purpose and conviction than in a more fragmented sector."

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree