Dubai’s Emaar eyes stake sale in India: Talks with Adani Group, others underway

The valuation and other terms of a potential transaction are not finalised.

Dubai-based real estate giant Emaar Properties has confirmed it is in talks with few Indian business groups, including the Adani Group, regarding the potential sale of a stake in its Indian subsidiary, Emaar India.

In a disclosure to Dubai Financial Market (DFM) on Thursday, January 16, Emaar said, “With reference to the media reports regarding the discussion with Adani Group about the Company’s business in India, the Company would like to confirm that it is currently in discussion with few groups in India including Adani Group for a potential sale of a stake in Emaar India.”

“The valuation and the other terms of a potential transaction are not finalised,” it added.

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The development comes after a report by Mint disclosed that Emaar is in advanced negotiations with the Adani Group for the acquisition of a majority stake in Emaar India, valued between Rs 4,000-5,000 crore. If finalized, this would represent Adani Group’s most significant foray into the real estate sector.

Talks between Adani Realty, part of Gautam Adani’s business empire, and Emaar India were first reported in September 2024.

Further updates on the outcome of the discussions are expected in the coming months.

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Emaar Properties, renowned for developing global landmarks like the Burj Khalifa, has a substantial presence in India. Its portfolio includes residential and commercial projects across major cities such as Delhi-NCR, Mohali, Lucknow, Indore, and Jaipur. Recently, the company diversified into the holiday home market with a project launch in Alibaug, Mumbai.

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