Dubai-based real estate developer Emaar Properties has clarified that it is “no longer considering the sale” of its stake in Emaar India. The statement, posted on the Dubai Financial Market (DFM) where the company is listed, follows reports suggesting that Emaar might pursue acquisitions in the US, India, and China. Instead, the developer said it is exploring joint ventures with major Indian conglomerates, including the Adani Group.
Focus on Strategic Partnerships
Earlier in 2025, Emaar engaged in talks with Adani and other groups regarding a potential sale of Emaar India, which has faced financial challenges. The subsidiary reported net losses of Rs1,340.8 million after tax for the financial year ending March 31, 2024, despite total revenues rising to Rs29,137 million from Rs18,319 million the previous year.
Emaar emphasised that future investment decisions will align with its strategic objectives, including maintaining a strong balance sheet and delivering positive returns for shareholders. “Any investment decision will be dependent on Emaar’s strategic objective of maintaining a strong balance sheet and positive returns to its shareholders, including dividends,” the company said.
Strong Financial Performance at Home
Emaar’s 2024 results highlight robust growth across its core operations. Property sales reached approximately Dh70 billion, up 72 per cent year-on-year, while total revenue rose to Dh35.5 billion, marking a 33 per cent increase. Net profit before tax grew 25 per cent to Dh18.9 billion, and the company’s revenue backlog from property sales surpassed Dh110 billion, supporting sustained future earnings.
The master developer also noted that it continues to evaluate strategic options, including international investments, to enhance shareholder returns. However, it confirmed that no transaction involving the sale of Emaar India is currently underway.
By pivoting from a potential sale to collaborative ventures, Emaar aims to combine its operational strength with the local expertise of Indian partners. This approach reflects the company’s strategy of global expansion while preserving robust financial performance.
