Emaar Properties Proposes $16.3 Billion Buyout of Development Subsidiary

Dubai-based real estate developer Emaar Properties PJSC has officially announced a plan to acquire the remaining shares of its construction and development subsidiary, Emaar Development. The proposed transaction, which aims to consolidate the parent company's ownership, values the subsidiary at approximately 60 billion dirhams ($16.3 billion). Emaar currently holds a majority stake of just over 79% in the firm and is offering 15 dirhams per share to purchase the outstanding minority interest.

The move comes as the regional property market navigates the economic pressures of a months-long conflict. While the offer price of 15 dirhams represents a premium over the subsidiary's recent closing price of 13.9 dirhams, it remains significantly lower than the stock's peak valuation recorded earlier this year before the onset of regional instability. The total cost for the remaining shares is estimated at roughly 12.6 billion dirhams ($3.4 billion).

Analysts suggest that the acquisition is a strategic effort to streamline operations and gain full control over a primary cash-generating entity. By bringing the development arm entirely under its umbrella, Emaar Properties could achieve greater flexibility in capital allocation and long-term financial planning. The proposal is currently subject to approval by the Emaar Properties board.

This development follows a period of significant structural change for the parent company, including a major shift in shareholding earlier in 2026 when a subsidiary of Dubai Holding became the largest shareholder. Despite the broader regional challenges, the Dubai real estate sector has shown signs of resilience, with a notable increase in project completions reported during the first half of the year. Emaar has not yet confirmed whether it intends to delist the construction arm from the Dubai Financial Market following the completion of the buyout.