Emaar offers Dh15 a share for 100 per cent control of Emaar Development

Emaar had previously announced plans to increase its ownership of Emaar Development.

In March 2022, its board approved a proposal to raise its stake in the subsidiary by up to three percentage points.

Emaar raised Dh4.82 billion from the sale of a 20 per cent stake in its development business in November 2017, which at the time was the largest Dubai listing in three years.

Emaar Development, which also trades on the DFM, is the property development arm of Emaar, specialising in residential communities and build-to-sell projects in Dubai. Its portfolio includes developments such as Dubai Hills Estate, Arabian Ranches, Emaar South and The Valley.

The latest move comes as Dubai continues to navigate the economic fallout from the Iran war, which is now in its ninth month. The company’s ownership structure also shifted in May, when investment company Dubai Holding became the largest shareholder in Emaar Properties after acquiring a 22.27 per cent stake in the developer from the Investment Corporation of Dubai (ICD).

One of the largest real estate developers in the Middle East, Emaar has a portfolio spanning residential, commercial, hospitality and retail assets across the Middle East and North Africa, Asia and Europe.

Emaar, which has 90,000 units under production globally in 18 markets, is weathering the wave of geopolitical uncertainty and economic headwinds on the fundamental strength of its business.

In September, Emaar founder Mohamed Alabbar said that the property market in Dubai was set for a “nice balance” next year despite softening due to the Iran war, as the sector goes through a period of adjustment.

In June, Emaar said it would unveil an “extraordinary” Dh200 billion megaproject in Dubai, set to house nearly 150,000 people.

Emaar Properties reported a nearly 9 per cent annual increase in its second-quarter profit, as revenue rose during the period despite geopolitical uncertainty.

Net profit attributable to owners of the company for the three months to the end of June climbed to Dh3.7 billion ($1 billion), while revenue for the three-month period rose 18 per cent to Dh11.5 billion.

In the first half of 2026, net profit surged 22 per cent annually to Dh8.7 billion, as revenue rose 21 per cent to nearly Dh24 billion.

Emaar Development also reported a sharp rise in second-quarter profit to Dh2.6 billion, up 43.5 per cent. Revenue for the period surged 32 per cent to Dh6.5 billion. First-half profit rose 48 per cent to Dh5.5 billion and revenue climbed 34 per cent to Dh13.3 billion. Its property sales during the period reached 22.4 billion.