On 24 November 2008, just two months after the Lehman Brothers crash, Emaar chairman Mohamed Alabbar was appearing on stage at a conference in Dubai, when someone dared to ask the question we had all been thinking: would Emaar and Nakheel consider merging?
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Alabbar surprised everyone with his response, saying: “Nakheel and Emaar are two separate entities, but we welcome collaboration. If there is a chance, I will welcome it.”
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Of course, the two companies never merged or even collaborated, and their fortunes over the five and a half years couldn’t have turned out more differently. Emaar went on to complete the iconic Burj Dubai, it successfully divested into retailing (the Dubai Mall being nothing short of spectacular), and even its long-battered share price is showing a 76 percent gain over the last twelve months.
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http://www.arabianbusiness.com/should-emaar-nakheel-work-together--488058.html
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