Billionaire Gautam Adani’s conglomerate is reportedly in the final stages of discussions to acquire real estate company Emaar India for an estimated enterprise value of USD 1.4–1.5 billion. This move aligns with Adani Group’s strategy to expand its presence in the real estate sector, sources revealed.
Emaar’s Journey in India
Dubai-based Emaar Properties entered the Indian real estate market in 2005 through a joint venture with MGF Development, investing Rs 8,500 crore. However, in 2016, Emaar decided to separate from its Indian partner through a demerger. Today, Emaar India owns a diverse portfolio of residential and commercial properties across Delhi-NCR, Mumbai, Mohali, Lucknow, Indore, and Jaipur.
Adani’s Growing Real Estate Footprint
Adani Group, through its Adani Realty and Adani Properties divisions, has been actively developing real estate projects in India. It has also taken on major redevelopment initiatives, including the Dharavi slum redevelopment project in Mumbai. More recently, Adani Properties Pvt Ltd (APPL) emerged as the highest bidder for the Rs 36,000 crore redevelopment of Motilal Nagar, a 143-acre housing project in Mumbai’s Goregaon (W).
Emaar’s Global Presence
Emaar Properties, listed on the Dubai Financial Market, is a prominent developer with a strong footprint in the Middle East, North Africa, and Asia. The company holds a 1.7 billion sq ft land bank globally and has developed iconic projects like the Burj Khalifa and Dubai Mall.
Awaiting Finalization
Both Adani Group and Emaar India have refrained from commenting on the deal. In January, Emaar confirmed discussions with multiple parties, including Adani Group, but stated that valuation and deal terms were yet to be finalized. The extent of Emaar’s stake sale in India remains uncertain. However, if the deal materializes, it would further cement Adani’s position as a key player in India’s booming real estate sector.
