Emaar Properties is seeking to acquire the remaining shares in its Dubai-listed development subsidiary, Emaar Development, in a move that would consolidate its ownership of one of the UAE’s largest residential developers.
Emaar, who holds more than 79% of Emaar Development, proposed a cash offer of AED 15 ($4.08) per share for minority shareholders according to a Dubai Financial Market (DFM) filing on Wednesday.
The stock remains down more than 8% year to date. The offer remains subject to approval by Emaar’s board.
Development subsidiary
Emaar Development has operated within the Emaar group since its establishment in 1997, before being listed on the DFM in November 2017.
The proposed buyout comes as the UAE development business continues to deliver strong earnings growth, supported by its development pipeline and accumulated property sales.
Emaar Development reported first-half 2026 net profit of AED 6.7B, up 43% YoY while revenue increased 34%.
The company has delivered more than 84,000 residential units since 2002, with a further 51,000-plus homes under development.
Emaar Development had a market capitalisation of nearly AED 56B as of 3 November according to DFM data.
Emaar’s ownership structure
Founded by Emirati businessman Mohamed Alabbar in 1997, Emaar Properties listed on the Dubai stock exchange in 2000.
The firm’s shares have declined 16% year to date, leaving the company with a market capitalisation of AED 104B as of 3 November.
Dubai Holding, the investment company owned by Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum, is Emaar Properties’ largest shareholder.
The proposed transaction would further consolidate Emaar’s ownership of its UAE development operations as Dubai’s property market continues to support the group’s earnings and forward revenue pipeline.
Emaar Properties and Emaar Development are scheduled to announce their third-quarter 2026 results on Thursday.
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