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Emirates’ Emaar Properties is considering the acquisition of the remaining share of its subsidiary, Emaar Developments, listed on the Dubai Financial Market, in a potential deal worth about $3 billion, amid assurances that no final decision has been made on its implementation so far.
According to sources familiar with the matter, Emaar Properties is considering plans to acquire the entire shares of its development arm, and may announce the details of the potential deal in the next few days, while consultations are still ongoing on its structure and value.
The sources, who asked not to be identified due to the confidentiality of the information, explained that the discussions have not yet reached a final decision, while the possibility remains that the company will not implement the deal.
Emaar Properties’ share in Emaar Development is about 79.16% of the total shares, compared to 20.84% owned by the general shareholders, while the market value of the subsidiary exceeds $ 14 billion according to the current share prices.
Al-Arabiya quoted Emaar as saying that it had not made a final decision on the acquisition of all Emaar Development shares, while representatives of Emaar Properties did not respond to the requests for comment referred to by Al-Sharq Bloomberg.
Emaar Development shares rose by 10.7% during today’s trading
Emaar Development Shares jump 10.7%
Emaar Development shares rose by 10.7% during the day, closing at AED 13.90 per share, in conjunction with the news of the potential acquisition deal.
The total shares of the company amount to 4 billion shares, of which about 833.6 million shares represent the shareholding of 20.84%, and its market value is about 11.6 billion dirhams, based on the closing price recorded today.
Emaar Properties offered 800 million shares of Emaar Development to the Dubai Financial Market in November 2017, at a price of AED 6.03 per share.
Expected meeting of Emaar Properties Board of Directors
The study of the potential acquisition comes after Emaar Properties announced, more than a month ago, a review of a set of proposals aimed at achieving additional value for shareholders, without disclosing the details of those proposals.
The Board of Directors is scheduled to hold a meeting on Thursday, November 5, 2026, to consider the results of the analyses related to ways to benefit from the various activities of the Group and enhance the returns to shareholders.
The Council discussed these proposals during its meeting on September 16, 2026, and requested more legal and financial studies on some of them, in preparation for the final decisions.
Previous experience of acquiring Emaar Malls
Emaar Properties previously carried out a similar operation in November 2021, when it acquired all of Emaar Malls’ shares and cancelled their listing from the Dubai Financial Market, nearly seven years after offering their shares at the end of 2014.
The process was carried out through the merger of Emaar Malls with Emaar Properties, through the issuance and allocation of 0.51 new shares in the parent company for each of Emaar Malls shares, with the exception of shares originally owned by Emaar Properties.
The merger resulted in an increase in Emaar Properties’ capital, in a previous experiment to restructure the group’s subsidiaries.
The potential acquisition of Emaar Development remains under consideration, without announcing a final agreement on its value or mechanism of implementation.
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