The chairman of Dubai developer Deyaar on Monday declined to comment on a media report that Deyaar was preparing to merge with Union Properties.

'We do not comment on rumours or speculation,' Deyaar chairman Nasser Al-Shaikh told Reuters.  Separately, a spokeswoman with Union Properties said, 'We are unaware of the merger.'

Earlier on Monday, a news agency reported that Deyaar was mulling a $4.3 billion merger with Union Properties.-Reuters