Asset SalesData
Emaar Properties offers Dh15 per share for full Emaar Development control
Voluntary cash offer targets remaining 21 percent stake in listed development subsidiary, with transaction subject to board approval.
Emaar Properties disclosed plans to make a voluntary cash offer of Dh15 per share to acquire up to 100 percent of Emaar Development shares it does not already own, according to a filing to the Dubai Financial Market on 4 November 2026. The offer covers shares not held by Emaar Properties and its indirect wholly owned subsidiary Emirates Property Holdings Limited, and is subject to approval from the Emaar Properties board.
Transaction value and ownership structure#
Emaar Properties currently owns just over 79 percent of Emaar Development. With Emaar Development valued at more than Dh60 billion at current share price, the acquisition of the remaining stake could cost Emaar Properties as much as Dh12.6 billion. Emaar Development shares rose 4.9 percent on the day of the announcement to their highest level in more than four months. The company filing provided no further details on timing or conditions beyond board approval.
Emaar Development portfolio and performance#
Emaar Development trades on the Dubai Financial Market as the property development arm of Emaar Properties, specialising in residential communities and build-to-sell projects in Dubai. Its portfolio includes Dubai Hills Estate, Arabian Ranches, Emaar South and The Valley. The subsidiary recorded Dh22.4 billion in property sales in the first half of 2026, while net profit increased 43 percent to Dh6.7 billion. Emaar Properties raised Dh4.82 billion from the sale of a 20 percent stake in the development business in November 2017.
Ownership history and prior stake increases#
In March 2022, the Emaar Properties board approved a proposal to raise its stake in the subsidiary by up to three percentage points. The company's ownership structure shifted in May 2026 when Dubai Holding became the largest shareholder in Emaar Properties after acquiring a 22.27 percent stake from the Investment Corporation of Dubai. Emaar Properties reported net profit before tax of Dh10.4 billion in the first half of 2025, compared to the same period the previous year, with revenue of Dh19.8 billion.
Sources3 sources across 3 domains
- thenationalnews.comThe NationalDh15 per share offer price, 79 percent current ownership, Dh12.6 billion potential cost, board approval requirement, November 2017 IPO raising Dh4.82 billion, March 2022 board approval for three percentage point increase
- khaleejtimes.comKhaleej Times4 November 2026 filing date, 4.9 percent share price rise, Dh22.4 billion H1 2026 property sales, Dh6.7 billion net profit with 43 percent increase, Dh10.4 billion H1 2025 net profit before tax, Dh19.8 billion revenue
- arabianbusiness.comArabian BusinessVoluntary offer structure targeting remaining stake in listed development arm
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