Published • loading... • Updated
Emaar Offers Dh15 a Share for 100 per Cent Control of Emaar Development
The offer could value the remaining stake at up to $3.2 billion and would give Emaar full control of its listed development arm, Bloomberg said.
- On Wednesday, Emaar Properties announced a voluntary cash offer to acquire up to 100 per cent of Emaar Development, offering Dh15 per share to take full control of its subsidiary.
- Emaar currently owns over 79 per cent of Emaar Development, which manages major residential communities including Dubai Hills Estate, Arabian Ranches, Emaar South, and The Valley.
- The potential buyout could cost Emaar as much as $3.2 billion, according to Bloomberg, and is subject to board approval in a filing to the Dubai Financial Market.
- Dubai Holding, which became the largest shareholder in Emaar in May, remains the primary stakeholder as the developer navigates economic fallout from the Iran war.
- Founder Mohamed Alabbar expects the property market in Dubai to reach a "nice balance" next year, as Emaar continues production on 90,000 units globally across 18 markets.
Insights by Ground AI
11 Articles
11 Articles
Emaar Offers to Buy Out Construction Arm at $16.3 Billion Value
·New York, United States
Read Full Article
Coverage Details
Total News Sources11
Leaning Left0Leaning Right3Center5Last UpdatedBias Distribution63% Center
Bias Distribution
- 63% of the sources are Center
63% Center
C 63%
R 37%
Factuality
To view factuality data please Upgrade to Premium
