Emaar makes Dh15-a-share cash offer to take full control of Emaar Development

06/11/2026 02:13 AST

Emaar Properties has announced plans to make a voluntary cash offer to acquire up to 100 per cent of the issued and paid-up share capital of Emaar Development that it does not already own.

In a disclosure to the Dubai Financial Market (DFM), Emaar Properties said it intends to offer Dh15 per share in cash. The proposal covers shares not already held by Emaar Properties and its indirectly wholly owned subsidiary, Emirates Property Holdings Limited. It is subject to approval from the Emaar Properties board. The company gave no further details in the filing.

Bloomberg earlier reported that the offer values Emaar Development at Dh60 billion ($16.3 billion).

Emaar Properties owns just over 79 per cent of Emaar Development, so buying out the remainder could cost it as much as Dh12.6 billion ($3.2 billion), according to Bloomberg.

Emaar Development shares rose 4.9 per cent on Wednesday to their highest in more than four months.

Emaar Development recorded Dh22.4 billion in property sales in the first half of 2026, while its net profit up 43 per cent to Dh6.7 billion.

Emaar was recently awarded the prestigious Dubai-it Award.

The award in the category of 'excellence in the real estate sector' has been given to the company for "embracing Dubai's philosophy of action, from project development and delivery to management and service quality, building a reputation worthy of Dubai".

The annual award recognises individuals, projects, companies and institutions that embody the 'Dubai-it' approach. It also "celebrates achievement while inspiring the next generation of transformative success".

Emaar Properties' net profit before tax increased to Dh10.4 billion in the first half of 2025, a growth of 34 per cent compared to the same period last year, driven by robust performance across development, retail, hospitality, and international operations.

The master developer reported revenue increasing to Dh19.8 billion, marking a growth of 38 per cent over the same period last year.

Khaleej Times