Dubai's Emaar to Buy Rest of Property Arm Post-War Slump Valuation

Hindustan Times · business

Dubai's Emaar Properties plans to acquire the remaining shares of its listed construction arm, Emaar Development, for 60 billion dirhams ($16.3 billion). The offer of 15 dirhams per share represents a slight premium to the last closing price but is 25% below its February high. Valuations for both entities have been impacted by regional conflict, which has reduced real estate demand. Emaar Properties currently owns over 79% of Emaar Development, and this full acquisition aims for greater financial flexibility.