Real Estate Markets
Emaar Offers to Buy Out Construction Arm at $16.3 Billion Value
Takeaways by Bloomberg AI
Dubai’s Emaar Properties PJSC offered to take over its construction arm in a multibillion-dollar deal at a time when valuations for both firms have been weighed down by the monthslong regional war.
The firm plans to offer 15 dirhams per share ($4.08) for Emaar Development PJSC, valuing the company at 60 billion dirhams. While that’s a premium to the firm’s last close of 13.90 dirhams, it’s well below the levels it traded at before the war began.