Dubai Holding becomes Emaar’s largest shareholder after acquiring ICD stake

Dubai: Dubai Holding has become the largest shareholder in Emaar Properties after acquiring a 22.27% equity stake from the Investment Corporation of Dubai (ICD), the companies announced Tuesday.

The deal increases Dubai Holding’s total stake in the Dubai-listed developer to 29.73%, solidifying its position as Emaar’s largest shareholder. While financial terms were not disclosed, officials described the move as a strategic consolidation reflecting confidence in both Emaar’s asset quality and the broader fundamentals of Dubai’s real estate market.

Get updated faster and for FREE: Download the Gulf News app now - simply click here.

Strategic consolidation

The transaction represents a shift in the ownership structure of one of the region’s most prominent real estate developers. Emaar has a diversified portfolio across the Middle East, Asia, and Europe.

According to company officials, the acquisition underscores Dubai Holding’s trust in Emaar’s long-term growth prospects and the enduring strength of Dubai’s economy. The move also reinforces the longstanding partnership between the two entities, which have collaborated on multiple high-profile projects over the past two decades.

The acquisition adds to Dubai Holding’s diversified global portfolio, valued at over Dh500 billion, with investments spanning real estate, hospitality, entertainment, retail, and media across more than 30 countries.