Emaar plans to delist construction unit after board approves $3.3 billion buyout

The buyout offer is being driven by 'strategic considerations'

• Emaar Properties plans to delist its construction unit, Emaar Development, from the Dubai Financial Market through a $3.3 billion buyout.
• Emaar Properties is offering $4.09 per share for the nearly 19 per cent of Emaar Development it does not already own, a 19.4 per cent premium on its last closing price.
• The buyout aims to consolidate Emaar's domestic development business under a single capital allocation framework, simplifying the group's overall structure.
• Emaar Development reported a sharp rise in third-quarter profit to $953 million, up nearly 8 per cent annually, with revenue surging 14 per cent.
• The acquisition "would allow Emaar Properties to simplify and consolidate the group's structure and to manage the domestic development business on a fully integrated basis within the wider group," the company said.

Dubai's Emaar Properties plans to delist its construction unit from the emirate's stock exchange after its board approved a Dh12 billion ($3.3 billion) buyout plan aimed at streamlining the group's business.

The company is offering Dh15 for each share it does not own in Emaar Development, Emaar Properties said in a filing on Thursday to the Dubai Financial Market.

Emaar Development has four billion ordinary shares, of which Emaar Properties and its subsidiary EPHL hold more than 3.2 billion, or nearly 81 per cent. The remaining shares it they do not own amount to more than 793.5 million which brings the buyout offer to more than Dh11.9 billion.

The offer is a 19.4 per cent premium on Emaar Development's closing price of Dh12.56 on November 2, the last trading day before the board meeting announcement. Emaar Development's shares settled about 0.4 per cent lower to Dh14.52 on Thursday.

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"It would bring the UAE development business fully within the group, allowing it to be managed and funded under a single capital allocation framework, in line with Emaar Properties’ established strategy of disciplined capital allocation and long-term value creation," it said.

"Acquiring the shares in Emaar Development that Emaar Properties and EPHL do not already own would allow Emaar Properties to simplify and consolidate the group's structure and to manage the domestic development business on a fully integrated basis within the wider group."

Emaar Development on Thursday also reported a sharp rise in third-quarter profit to Dh3.5 billion, up nearly 8 per cent annually. Revenue for the period surged 14 per cent to Dh8.8 billion.

UAE property sales for the first nine months reached Dh26.2 billion and international development sales were Dh8.5 billion for the period.

Emaar Properties, meanwhile, reported a 5.6 per cent annual increase in its third quarter profit, with revenue backlog and sales from new project launches supporting earnings, despite Iran war-driven uncertainty.

Net profit attributable to owners of the company for three months to the end of September climbed to Dh4.6 billion, the company said in a DFM filing. Revenue rose nearly 3 per cent on annual basis to Dh13.6 billion.

Updated:

November 05, 2026, 4:46 PM