Eshraq Properties PJSC (ADX:ESHRAQ) and Reem Investments are considering a potential merger to create the second-largest listed developer in the emirate. The deal, if completed, would be the latest in a series of mergers and consolidations within Abu Dhabi, as government agencies and large corporations tighten their belts in the wake of lower oil prices. The companies did not comment on when the deal is expected to be completed.

Shuaa Capital is advising Eshraq on the deal, while Reem is being advised by First Abu Dhabi Bank (FAB).