Emaar Properties plans to buy the rest of Emaar Development, its listed residential arm, for AED 15 per share in cash. Emaar Properties told the Dubai Financial Market (DFM) on 4 November 2026 that it intends to make a voluntary cash offer for up to 100% of the Emaar Development shares it does not already own. The offer still needs approval from the Emaar Properties board.
Emaar Development builds and sells Emaar's homes in Dubai, including the off-plan launches in Dubai Creek Harbour, Dubai Hills Estate, The Valley, Grand Polo and Emaar South. If the deal goes ahead, the business that has been listed on its own since 2017 would come fully back under the parent company.
Credit: Emaar Properties
The Emaar Development Offer at a Glance
| Buyer | Emaar Properties PJSC |
|---|---|
| Target | Emaar Development PJSC, listed on the DFM since 2017 |
| Offer | Voluntary cash offer for up to 100% of the shares not held by Emaar Properties and its subsidiary Emirates Property Holdings Limited |
| Price | AED 15 per share in cash |
| Current stake | Just over 79%, held by Emaar Properties |
| Implied value | About AED 60 billion (USD 16.3 billion) for the whole company, according to Bloomberg |
| Cost of the remaining shares | Up to about AED 12.6 billion (USD 3.2 billion), according to Bloomberg |
| Status | Announced 4 November 2026; subject to Emaar Properties board approval |
What Emaar Announced
A cash offer, not yet final. The DFM disclosure, signed by Executive Director Ahmad Thani Rashed Almatrooshi, says Emaar Properties intends to offer AED 15 a share in cash. It gave no other terms, and the offer is subject to the board's approval.
A small premium, well below the peak. Bloomberg reported that AED 15 is above Emaar Development's last close of AED 13.90 before the announcement, but about 25% below the record it reached in February 2026.
A familiar move for Emaar. Gulf News noted that Emaar Properties took its listed malls business private in 2021 through an all-share deal. Emaar Development listed on the DFM in 2017 in an initial public offering that raised about USD 1.3 billion.
Why now. Bloomberg reported that Emaar Properties had sought legal and financial advice on ways to improve shareholder value. Analysts at CI Capital, quoted by Bloomberg, said owning all of the group's main cash generator would give Emaar more flexibility to put that money into rental assets, international growth and dividends.
The Market Backdrop
The offer comes as Dubai's property market slows during the regional conflict. Consultancy Cushman & Wakefield Core said off-plan residential transactions fell 71% year on year in the third quarter of 2026, and new project launches fell 67%. Emaar has also been more careful with new launches this year, and the developer's own figures below show far fewer units launched in 2026 than in 2024 or 2025.
Credit: Emaar Properties
Emaar's Delivery Record and Pipeline in Dubai
| Measure | Emaar |
|---|---|
| Projects handed over on time | 490 |
| Projects handed over late | 0 |
| Projects currently past their planned date | 4 |
| Historical on-time delivery (completed projects) | 100% |
| Overall delivery reliability (overdue counted as misses) | 99.2% |
| Median delay on the overdue projects | 462 days |
| Units delivered in 2025 / 2026 so far | 7,318 / 6,004 |
| Units launched in 2024 / 2025 / 2026 so far | 24,221 / 16,891 / 3,800 |
| Units planned for completion in 2028 / 2029 | 14,335 / 17,084 |
| Units under construction | 48,927 |
Source: DXBinteract (Dubai Land Department transaction data), as of November 2026.
What It Means for Buyers and Investors
Off-plan buyers. The DFM filing is about who owns Emaar Development's shares. It says nothing about changes to projects, sales or handover dates. Emaar's DLD record above, with no late completed projects and only a handful past their planned date, is the more useful guide for anyone buying an Emaar launch. As always, check the developer entity, escrow account and handover date in your sale agreement or Oqood.
Emaar Development shareholders. The AED 15 price is only an intention for now. Shareholders should wait for the formal offer document after board approval before deciding anything.
The wider market. A full buyout would give Emaar Properties direct control of Dubai's largest residential sales business and its cash flow. That matters for Emaar's pace of future launches in Dubai's master communities, which is one of the clearest signals for the off-plan market.
Talk to Luxwell Real Estate
Looking at Emaar launches or resale homes in Dubai Creek Harbour, Dubai Hills Estate, The Valley or Emaar South? Luxwell Real Estate is a boutique luxury brokerage in Business Bay. We can shortlist ready and off-plan options, share recent sales data and help you ask the right questions before you commit.
- Email: info@luxwellrealestate.com
- Website: www.luxwellrealestate.com
- Contact form: Contact Luxwell
Sources: Emaar Properties disclosure to the Dubai Financial Market (4 November 2026); Gulf News and Khaleej Times (4 November 2026); Bloomberg, as reported by the Hindustan Times (4 November 2026); MarketWatch (4 November 2026); DXBinteract.
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Frequently Asked Questions
What has Emaar Properties announced?
- On 4 November 2026 Emaar Properties told the Dubai Financial Market it intends to make a voluntary cash offer of AED 15 per share for up to 100% of Emaar Development's shares that it and its subsidiary Emirates Property Holdings Limited do not already own.
Is the Emaar Development offer final?
- No. The offer is subject to approval from the Emaar Properties board of directors, and the filing gave no further terms.
How much of Emaar Development does Emaar Properties own?
- Emaar Properties owns just over 79%. Bloomberg estimates that buying the remaining shares could cost up to about AED 12.6 billion (USD 3.2 billion).
What does the offer value Emaar Development at?
- Bloomberg reported that AED 15 a share values Emaar Development at about AED 60 billion (USD 16.3 billion).
Does the buyout affect people who bought Emaar off-plan homes?
- The filing concerns share ownership and does not mention any change to projects, sales or handover dates. Buyers should still check the developer entity, escrow account and handover date in their sale agreement or Oqood.
How reliable is Emaar at handing over on time?
- DXBinteract's Dubai Land Department data shows 490 Emaar projects handed over on time, none late and four currently past their planned date, an overall delivery reliability of 99.2%.
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