Billionaire Gautam Adani’s group is in advanced talks to acquire Emaar India for an enterprise value of approximately USD 1.4-1.5 billion as part of its expansion into the property sector, news agency PTI reported quoting sources.
Emaar Properties, based in Dubai, entered the Indian real estate market in 2005 in partnership with India's MGF Development, investing Rs 8,500 crore through the joint venture, Emaar MGF Land. In April 2016, Emaar Properties ended the joint venture through a demerger process.
Emaar India boasts a large portfolio of residential and commercial properties across cities including Delhi-NCR, Mumbai, Mohali, Lucknow, Indore, and Jaipur. Sources indicate that talks between Emaar Properties and Adani Group are now in advanced stages, though both companies have declined to comment.
In January 2025, Emaar Properties confirmed that it was in discussions with several Indian groups, including the Adani Group, regarding the potential sale of a stake in Emaar India. However, the valuation and terms of the transaction have not yet been finalized. Sources revealed that while Emaar Properties is looking to sell a stake in the Indian arm, the extent of shareholding dilution remains undecided.
Adani Group is already active in India's real estate market through its subsidiaries, Adani Realty and Adani Properties, which have developed numerous projects across major cities.
The group is also involved in high-profile redevelopment projects, including the Dharavi slum redevelopment in Mumbai and has emerged as the highest bidder for the Rs 36,000 crore redevelopment of Motilal Nagar in Mumbai. The project spans 143 acres in Goregaon (W), and Adani Properties Pvt Ltd (APPL) is set to receive the Letter of Allotment (LoA) soon.
Emaar Properties PJSC, listed on the Dubai Financial Market, is one of the world’s largest real estate developers, known for iconic projects like the Burj Khalifa and Dubai Mall. The company has a land bank of approximately 1.7 billion sq ft across the UAE and key international markets.
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