Emaar to buy out Emaar Development at AED 15 a share: what the AED 60bn deal means for buyers

Emaar Properties has offered to buy every Emaar Development share it does not already own for AED 15 in cash. The offer covers 20.84% of the company, costs about AED 12.5bn and values the whole unit at roughly AED 60bn. For buyers of Emaar homes, contracts and construction schedules do not change.

What exactly has Emaar offered?

On 4 November 2026 Emaar Properties announced a cash offer for the remaining shares of Emaar Development, which is listed on the Dubai Financial Market. The parent holds about 79.16% of the unit; public shareholders own the other 20.84%.

The price of AED 15 represents a premium of about 19.4% to the 2 November close, the last trading day before the announcement. The offer is open until 10 December 2026 and may be extended by 14 days.

What is Emaar Development?

It is the arm that builds and sells Emaar’s homes in Dubai: Dubai Hills Estate, Dubai Creek Harbour, Emaar Beachfront, The Valley and other master plans. It is the entity a buyer signs with when purchasing an Emaar apartment or villa.

The parent, Emaar Properties, is broader, with malls, hotels, entertainment and international projects. More on the portfolio is on our Emaar developer page.

Why does Emaar want full control?

Full consolidation brings land, buyer payments and construction cash flow into one structure with no outside shareholders. Decisions on launches, pricing and profit distribution no longer need to account for minority investors.

Buying out minorities at a premium also signals confidence: companies do this when they believe the asset is undervalued. In October, S&P affirmed Emaar’s BBB+ rating, as we covered in our report on Emaar’s credit rating and backlog.

Does anything change for Emaar home buyers?

No. Sale and purchase agreements remain valid, and off-plan payments still sit in project escrow accounts supervised by RERA. The share offer concerns ownership of the company, not its obligations to buyers.

• Handover dates and payment plans on existing purchases stay the same.
• DLD registration and Oqood certificates are unaffected.
• New launches continue under the Emaar brand.

What happens to Emaar Development shareholders?

Each shareholder decides whether to accept. Emaar has warned that if many accept, the free float will shrink, shares may become harder to sell and prices more volatile. It has not promised a second offer.

Frequently asked questions

How much is Emaar paying for Emaar Development shares?

AED 15 per share, about AED 12.5bn in total for 20.84% of the company.

When does the Emaar Development offer close?

On 10 December 2026, with a possible 14-day extension.

Is it safe to buy an Emaar property during the buyout?

The share transaction does not affect buyers: off-plan money is protected by escrow, and the contracting entity stays the same. Choose a project on location, price and payment terms.

Emaar projects on sale and on the resale market are listed on our Emaar developer page.