Emaar Properties offers 15 dirhams per share for Emaar Development
Business
Emaar Properties is set to buy out the rest of Emaar Development PJSC, offering 15 dirhams per share, more than the latest market price, but not quite what shares were worth before recent regional tensions.
This move follows Dubai ruler's group buying a big stake in Emaar and comes as the company looks to tighten its grip on its construction business.
Full Emaar Development ownership funds expansion
By owning 100% of Emaar Development (it already has over 79%), Emaar gets more freedom to expand globally and manage assets more flexibly, something analysts say could help deploy that money across recurring-income assets, international expansion, and dividends.
Despite some market uncertainty, Dubai's housing scene is still going strong, supported by population growth.