Emaar Properties Proposes AED 12.6 Billion Buyout of Emaar Development Shares
Dubai developer plans to acquire the remaining public stake in its listed subsidiary through a AED 15-per-share cash offer, potentially bringing the business under complete ownership
Dubai, UAE – 4 November 2026
Emaar Properties has announced plans to strengthen its ownership of Emaar Development through a proposed cash acquisition of the shares it does not currently hold. The offer could involve an investment of approximately AED 12.6 billion ($3.4 billion), according to market estimates.
Under the proposal, Emaar Properties intends to offer AED 15 in cash for each eligible share in Emaar Development. The offer targets the outstanding shares not already owned by the parent company and its indirectly wholly owned subsidiary, Emirates Property Holdings Limited.
The proposed price represents a premium of approximately 7.9% over Emaar Development's closing share price of AED 13.90 on 3 November. Based on the offer price, the development company's overall valuation would stand at around AED 60 billion ($16.3 billion).
Emaar Properties already holds slightly more than 79% of Emaar Development, leaving approximately 21% of the business outside its ownership. Acquiring the remaining shares would allow the parent company to bring the development business entirely under its corporate structure.
Greater control over property development operations
The proposed transaction could give Emaar Properties additional flexibility in managing its financial resources and directing investment across its wider business portfolio.
Full ownership would allow the group to retain a larger share of the earnings generated by Emaar Development. It could also provide greater control over decisions involving future projects, capital allocation, international expansion and investments in businesses that generate recurring income.
Analysts have previously highlighted the potential strategic benefits of consolidating the subsidiary, particularly in relation to the management and distribution of capital within the wider group.
Emaar Development's Listing and Growth on the Dubai Financial Market
Emaar Development entered the Dubai Financial Market in 2017 through an initial public offering that raised approximately AED 4.77 billion ($1.3 billion). Its listing provided investors with an opportunity to participate directly in the company's property development activities.
Since then, the subsidiary has remained an important part of Emaar's real estate operations, focusing on residential development and major housing communities across Dubai.
The proposed buyout follows an earlier restructuring of the group's corporate portfolio. In 2021, Emaar Properties completed the process of taking Emaar Malls private through an all-share transaction.
A significant move amid changing market conditions
The latest proposal comes during a period of changing conditions in Dubai's property market. Regional economic uncertainty and shifts in investor sentiment have influenced market valuations, although demand for residential property in the emirate has continued to demonstrate resilience.
Population growth and ongoing interest from international buyers remain important factors supporting Dubai's residential real estate sector.
The proposed acquisition represents another major corporate development for Emaar Properties as it evaluates the structure and future direction of its businesses.
If approved and successfully completed, the transaction would give Emaar Properties full ownership of Emaar Development, strengthening its control over one of its most important property development operations.
The proposed offer remains subject to the required approval from Emaar Properties' board of directors. It should not be considered a completed acquisition.
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