Dubai’s Leading Developer Confirms Potential Deal with Adani Group. 

Emaar Properties, currently the biggest property developer in Dubai, has indicated that negotiations are still ongoing with Indian companies involving a possible stake sale in its Indian operations, which besides the Adani Group include other Indian entities. The company confirmed this in an extraordinary announcement to the Dubai Financial Market, maintaining that no valuation and terms of the deal have yet been finalized.  

emaar sell stake in indian subsidiary

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This announcement comes after a report by the Indian financial daily Mint, which revealed that Emaar and Adani Group are in advanced negotiations over a stake sale. According to the report, Adani Group could acquire a majority stake in Emaar India for a sum ranging from INR 40-50 billion ($462 million-$578 million).  

Sources told Mint census data indicates many of Emaar’s projects are located in prime locations that will impact their valuations positively. This factor enhances Emaar’s portfolio in India in the eyes of investors, with increasing demand for high-quality real estate developments in India.  

Emaar began in the Indian real estate market in 2005 through a joint venture with MGF Development of India, with the Dubai developer committing INR 85 billion ($1 billion). However, the partnership came to an end in 2016 after the company was demerged; regulatory approval for the move was granted only in 2018. Emaar has functioned independently in India since then, carrying on business.  

If the deal with Adani Group comes off, it would be the largest new purchasing deal of Adani’s foray into the real estate sector. Timing becomes ever more relevant given this potential transaction coincides with the ongoing legal battles that Gautam Adani, a billionaire owner of the Adani Group, and several others face in the United States. Still, the deal would signify a bold step by the Adani Group to bolster its foothold in the competitive real estate market. 

The discussions come at a time when Emaar is on a path of tremendous financial growth. In November 2024, the company announced a stunning 30% year-on-year increase in revenues such that within the first three quarters of the year 2024 alone, it earned about AED 23.8 billion ($6.5 billion). A large part of that growth was due to a 60% growth in the sale of real estate, with sales rising in that category to AED 50 billion over the period.  

Emaar’s strong financial performance highlights the developer’s ability to deliver premium real estate projects that appeal to a wide range of investors. The company’s focus on prime locations and high-quality developments has helped Emaar rise to a leader in the global real estate market.  

If finished, the merger would change the real estate landscape for both Emaar and Adani Group, opening Emaar to expand its operations in India while providing Adani with a foot in the sector. The partnership will not only create financial gains for both but will also indicate a further push into a growing international collaboration within the real estate industry.