Adani Eyes Major Stake in Emaar India


Adani Eyes Major Stake in Emaar India

Report says Emaar and Adani Realty are negotiating a deal worth Rs 4,000-5,000 crore for a significant stake in the Indian subsidiary of Dubai's Emaar Properties

 
emaar

January 18, 2025 - Dubai's leading real estate developer, Emaar Properties is in talks with Adani Group and several other firms to sell more than 50% stake in its Indian subsidiary. If the deal with Adani Group is finalised then it would mark Adani Realty's biggest transaction into the real estate sector, under the leadership of Gautam Adani. Currently, the Adani Group’s presence in the estate sector in the country is limited to Mumbai and west India.

Emaar has informed the Dubai Stock Exchange that the discussions are in the initial stages.

“With reference to media reports regarding the discussion with the Adani Group about the company’s business in India, the company would like to confirm that it is currently in discussion with a few groups in India, including the Adani group, for a potential sale of stake in Emaar India. The valuation and other terms of a potential transaction are not finalised,’’ Emaar said in a regulatory filing to the Dubai Stock Exchange.

The price and terms of the deal have not yet been finalised. Earlier, a media report had said that Emaar and Adani Realty are negotiating a deal worth Rs 4,000-5,000 crore for a significant stake in Emaar India. According to people involved in the matter, this deal is expected because most of Emaar's projects are located in premium locations, which can fetch better prices.

Emaar first entered the Indian real estate market in 2005. At that time, Emaar invested Rs 8,500 crore in a joint venture with Indian company MGF Development. This partnership ended in 2016.

To join us on Facebook Click Here and Subscribe to UdaipurTimes Broadcast channels on   GoogleNews |  Telegram |  Signal