Dubai: Dubai Holding and Investment Corporation of Dubai (ICD) have announced the completion of a transaction whereby Dubai Holding has acquired a 22.27% ownership stake in Emaar Properties PJSC from Investment Corporation of Dubai.
Accordingly, Dubai Holding's total stake in Emaar Properties has increased to 29.73%, becoming the largest shareholder in the company.
Emaar Properties, listed on the Dubai Financial Market (DFM), is one of the largest real estate developers in the Middle East, with a diversified portfolio that includes residential, commercial, hotel and retail assets.
The Group also has a strong presence in the Middle East, North Africa, Asia and Europe, supported by a strong development portfolio and high-quality, income-generating assets.
The transaction represents a strategic investment in Emaar Properties, reflecting Dubai Holding's confidence in the company's position, asset quality, long-term growth prospects, and confidence in the solid foundations of Dubai's economy and real estate sector.
The transaction also strengthens the strategic partnership between Dubai Holding and Emaar Properties, based on a long-standing relationship supported by multiple partnerships and ongoing collaborations across key joint ventures.
Dubai Holding is a diversified global investment company with investments in more than 30 countries and an extensive portfolio of over AED 500 billion in assets across key sectors including real estate, hospitality, entertainment, retail, media and investments.