Dubai’s leading property developer, Emaar Properties, that it is in negotiations with “several groups” in India, including the Adani Group, to sell a stake in its local operations.
Referring to reports in the media about discussions with the Adani Group regarding its Indian business, Emaar confirmed in a stock exchange filing that it is engaged in talks with multiple groups in India, including Adani Group.
Emaar, renowned for constructing the world’s tallest tower, clarified that the valuation and other details of any potential deal have not yet been determined.
This clarification comes after reports suggested that Adani Realty, the property division of Indian billionaire Gautam Adani’s Adani Enterprises, was in advanced discussions to acquire a controlling stake in Emaar India.
Emaar entered the Indian market in 2005 and boasts a portfolio of residential and commercial projects across cities like Gurugram, Mohali, Lucknow, Jaipur, and Indore, as per its official website.