Dubai's Emaar plans buyout of development arm at 15 dirhams a share

Dubai property giant Emaar Properties said in a filing to the Dubai Financial Market on 4 November that it plans to make a voluntary cash offer of 15 dirhams ($4.08) a share for all shares in its listed development subsidiary Emaar Development that it does not already own, taking full ownership of the business.

Price and shareholding structure

Emaar Properties currently controls about 79.16% of Emaar Development, leaving 20.84% in the hands of other shareholders. At 15 dirhams a share, acquiring the remaining stake would cost about 12.5 billion dirhams ($3.4 billion), valuing Emaar Development at around 60 billion dirhams ($16.3 billion).

The proposed price is a premium of about 7.9% over Emaar Development's closing price of 13.90 dirhams on 3 November. The offer remains subject to approval by Emaar Properties' board of directors, and the final timetable and acceptance conditions have not yet been announced.

Consolidation as the property market cools

Emaar Development is behind some of Dubai's largest residential and mixed-use communities, including Dubai Hills Estate, Emaar South and The Valley. The company reported first-half 2026 net profit of 6.7 billion dirhams, up 43% year on year, while revenue rose 34%.

The buyout plan comes as Dubai's property market cools: according to property consultancy Cushman & Wakefield Core, off-plan residential transactions fell 71% in the third quarter from a year earlier, while new project launches declined 67%. Emaar Properties' second-quarter net profit rose 9% to 3.67 billion dirhams.

(Cover image: archive photo of the Dubai skyline.)