Emaar Properties intends to offer AED 15 a share for Emaar Development
Emaar Properties intends to offer AED 15 a share in cash for Emaar Development shares it does not already own, subject to its board's approval.
Emaar Properties intends to make a voluntary cash offer of AED 15 per share for up to 100% of Emaar Development shares not already owned by it and its subsidiary EPHL, according to a DFM disclosure on 4 November 2026. The intended offer is subject to approval by the Emaar Properties board.
- Emaar Properties intends to offer AED 15 per share in cash for Emaar Development shares it and EPHL do not already own.
- The intended offer covers up to 100% of Emaar Development's issued and paid-up share capital not already held by the group.
- It is subject to the required approval of the Emaar Properties Board of Directors.
- The letter does not disclose Emaar Properties' current stake, the offer's total value, a premium or a timetable.
- Emaar Development closed at AED 13.90 on 3 November, up 10.67%, according to DFM data.
Emaar Properties PJSC said on Wednesday that it intends to make a voluntary cash offer of AED 15 per share for up to 100% of the issued and paid-up share capital of Emaar Development PJSC not already owned by Emaar Properties and its indirect wholly owned subsidiary, Emirates Property Holdings Limited (EPHL), according to a Dubai Financial Market disclosure.
What happened
Emaar Properties disclosed the intention in a letter to the Dubai Financial Market dated 4 November 2026 and published on the exchange at 05:40 GST. The letter describes the proposal as a voluntary cash offer at AED 15 per share in cash and says it is subject to the required approval of the Emaar Properties Board of Directors.
The letter, addressed to DFM Chief Executive Officer Hamed Ali, was signed by Executive Director Ahmad Thani Rashed Almatrooshi and copied to the Capital Market Authority.
The letter does not disclose Emaar Properties' current shareholding in Emaar Development, the total value of the offer, any premium to the market price, or a timetable.
Who is exposed
The intended offer covers Emaar Development shares not already owned by Emaar Properties and EPHL. Emaar Development trades on the Dubai Financial Market under the symbol EMAARDEV and Emaar Properties under EMAAR.
Emaar Development shares closed at AED 13.90 on Tuesday, 3 November, up 10.67%, according to DFM data.
What to watch next
The offer remains an intention and requires the approval of the Emaar Properties board. The letter does not say when the board will consider it or give further offer terms.