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Dubai United Arab Emirates
The Board of Directors of Emaar Properties has finally approved an optional cash purchase offer of about $3.24 billion (AED 11.9 billion) to acquire all non-owned shares and its subsidiary in Emaar Development at a price of $4.08 (AED 15) per share, according to the Gulf newspaper.
The decision came after the Board of Directors was briefed on the legal and financial analysis it requested during its meeting on September 16, 2026, where it adopted the offer document in preparation for its delivery to the Board of Directors of Emaar Development.
According to the Gulf, the offer aims to buy about 793.55 million shares, representing about 19.83% of Emaar Development Capital, while Emaar Properties directly owns 3.166 billion shares, equivalent to 79.16% of the capital, in addition to 40 million shares owned by its subsidiary Emirates Property Holdings Limited, equivalent to 1%, bringing the total ownership to about 80.16%.
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