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| Emaar Acquires John Laing Homes Emaar Properties, one of the world's largest real estate companies, has agreed to acquire John Laing Homes, the second largest privately held homebuilder in the U.S., creating one of the world's leading real estate developers in residential homebuilding. The AED 3.856 billion (US$1.050 billion) all cash transaction has been unanimously approved by the boards of directors of both companies and closed on June 1, 2006. John Laing Homes will be operated as a division of Emaar. John Laing Homes' corporate headquarters will remain in Newport Beach, CA, and continue to be managed by Larry Webb, who, along with the senior management team, have agreed to multiyear contracts. write your comments about the article :: © 2006 Construction News :: home page |