Dubai Holding has become the majority shareholder of Emaar Properties after acquiring a 22.27% stake from the Investment Corporation of Dubai. The company now holds 29.73% stake in Emaar Properties.
The deal brings a major shift in Dubai's government-linked investment network. The Investment Corporation of Dubai sold all its Emaar shares while Dubai Holding increased its holdings in one of the most valuable real estate development companies in the area.
Dubai Holding aims to support Emaar's growth potential and boost the Dubai real estate market. The entire transaction was completed through Emirates Power Investment, a subsidiary of Dubai Holding.
Emaar plays an essential role in Dubai's development projects through its activities on the Dubai Financial Market. The company developed landmark assets, including the Burj Khalifa and Dubai Mall, and continues to expand across residential, hospitality, and retail segments.
The latest move also deepens a relationship that has evolved over several years. In 2022, Dubai Holding became Emaar’s second-largest shareholder after divesting its Dubai Creek Harbour stake in exchange for cash and Emaar shares.
The government-backed organizations in Dubai are currently undergoing a complete restructuring process. Dubai Holding sold its entire 24% stake in Empower to DEWA for AED5.18 billion earlier this year. Market watchers believe that Dubai Holding will use its increased power over Emaar to advance major development projects and enhance operational efficiency. Major areas include
Infrastructure
Hospitality
Real-Estate activities
The latest Emaar deal shows that Dubai is consolidating key state-linked assets. Dubai Holding has also been exploring overseas expansion opportunities in markets including India, China, and the US.
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