The valuation and other terms of a potential transaction are not finalised
Dubai’s leading developer, Emaar Properties, announced on Thursday that it is engaged in discussions with several groups in India, including the Adani Group, regarding the sale of a stake in its Indian operations.
In response to media reports about negotiations with the Adani Group concerning its Indian business, Emaar confirmed in a stock exchange filing that it is currently in talks with a few Indian groups, including Adani.
Famous for constructing the tallest tower in the world, Emaar noted that the valuation and other specifics of a potential deal have yet to be determined. This announcement came after media speculation that Adani Realty, a part of the Adani Enterprise owned by Indian billionaire Gautam Adani, was in advanced negotiations to acquire a majority share in Emaar India.
Entering the Indian market in 2005, Emaar has developed both residential and commercial properties across various cities including Gurugram, Mohali, Lucknow, Jaipur, and Indore, as stated on its website.
Emaar Properties' ventures in India signify a strategic commitment to one of the world’s fastest-growing real estate markets, aligning with its broader growth objectives. The potential collaboration with Indian entities such as the Adani Group underscores Emaar’s approach to leveraging local expertise and investment to enhance its market position and optimize its portfolio in India.
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