Emaar Properties, a Dubai-based real estate firm, has confirmed ongoing discussions with several Indian groups, including the Adani Group, regarding the potential sale of a stake in its Indian subsidiary, Arabian Business reported. The company stated that the valuation and other terms of a potential transaction have not been finalised.
Emaar commenced its operations in India in 2005 and has developed residential and commercial properties in cities such as Gurugram, Mohali, Lucknow, Jaipur and Indore.
This development follows reports that Adani Realty, the real estate arm of Indian billionaire Gautam Adani’s Adani Enterprises, is in advanced talks to acquire a majority stake in Emaar India.
Emaar’s potential divestment aligns with its strategic focus on core assets, as evidenced by past considerations to sell non-core assets in India, including hotels and land parcels.
The discussions are ongoing, and no definitive agreements have been reached. Emaar has emphasised that it will disclose further information as and when there are material developments.
