Skip to content Skip to Search
Skip navigation

Adani in talks to buy stake in Emaar’s Indian subsidiary

A view of Emaar India's Gurgaon Greens project in Haryana. Adani Realty and Emaar executives are holding talks in Dubai Emaar India
A view of Emaar India's Gurgaon Greens project in Haryana. Adani Realty and Emaar executives are holding talks in Dubai

Adani Realty, owned by Indian billionaire Gautam Adani, is holding discussions with Emaar Properties to buy a stake in the Dubai-based developer’s Indian subsidiary, a news report said.

Adani Realty and Emaar executives are discussing a possible transaction for a stake sale in Emaar India in Dubai, Business Today magazine reported, citing unnamed sources.

The talks are in the early stages, the sources said.

Emaar India aims to invest almost $1 billion over the next four to five years, CEO Kalyan Chakrabarti told Hindustan Times, an Indian news daily, in February.

The Dubai developer entered the Indian real estate market in 2005 through a joint venture with India’s MGF Development by investing INR85 billion ($1 billion).

However, the partnership ended in April 2016 after a demerger, which received regulatory approval in 2018.

In August, Adani Ports agreed to buy an 80 percent stake in Dubai-based Astro Shipping Co for $185 million .

Gautam Adani was considering opening a family office in Dubai or New York to manage his wealth, Bloomberg reported in November 2022.

Latest articles

Gulf airlines, Gulf airlines conflict, Gulf conflict risk, Gulf flights cancelled rerouted

Conflict risk leads Gulf airlines to cancel regional routes

Gulf airlines are among airlines that have cancelled and rerouted flights across the Middle East as the conflict between Iran and Israel escalates. They are avoiding Iranian airspace and many have cancelled routes entirely following a major missile attack by Iran against Israel on Tuesday. Immediately after the attacks about 80 flights operated by carriers […]

Taaleem's schools offer 'exclusive educational experiences' including access to high-tech equipment profits

Dubai school operator Taaleem increases profit by 55%

Dubai school operator Taaleem has reported revenue of AED945.2 million ($257.3 million) for its 2023-24 financial year – a 15.5 percent year-on-year increase. More student enrolments and the opening of new schools helped Taaleem to increase net profit before tax by 55 percent, to AED182 million, in the financial year ending August. Taaleem’s shares were […]

Shein IPO

Mubadala-backed Shein courts investors before London IPO

Chinese fashion retailer Shein, which is backed by the Abu Dhabi sovereign wealth fund Mubadala, is courting European investors before an initial public offering on the London Stock Exchange. Shein is due to hold informal meetings to answer questions and test the investment appetite of major investors in the coming weeks, before its planned IPO […]

Despite challenges to the economy, Kuwait's bank sector remained resilient, the country's central bank says

Kuwait’s economy holds up against challenges, says central bank

Robust spending and “long-due” structural reforms expected to accelerate following “recent political developments” will help Kuwait’s economy overcome some challenges, according to the Central Bank of Kuwait (CBK). Kuwait faced multiple challenges in 2023 in the face of high inflation, rising global interest rates and bubbling geopolitical tensions in the region, according to CBK’s 12th […]