Investment Corporation of Dubai, the principal investment vehicle of the Dubai government, has transferred its full shareholding in Emaar Properties to Emirates Power Investment, a wholly owned subsidiary of Dubai Holding.
A 22.2723% stake in the company’s total issued shares was transferred to Emirates Power Investment, positioning Dubai Holding Group as the largest shareholder in the developer behind Burj Khalifa, according to a confirmation issued by Emaar on Monday.
Emaar stated that the Investment Corporation of Dubai no longer retains any ownership stake in the company.
Following the completion of the transaction, Dubai Holding’s ownership in Emaar has risen to approximately 29.73%.
The move reflects a strategic reallocation of government-linked assets between two of Dubai’s leading investment entities. Dubai Holding maintains a broad portfolio spanning sectors including hospitality, retail, and technology.
