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Dubai's Emaar in talks with Adani, others to sell stake in Indian business

The statement followed media reports on Wednesday stating that Adani Realty was in advanced talks to acquire a majority stake in Emaar India

Emaar India

Besides India, it operates internationally in other markets including Saudi Arabia, Turkey and the US.

Reuters

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Emaar Properties, Dubai's largest listed real estate firm, is in talks with "a few groups" in India including Adani Group to sell a stake of its Indian business, it said on Thursday. 
The builder of the world's tallest building, the Burj Khalifa, and other iconic parts of Dubai, said in a statement that the valuation and other terms of a potential deal were not finalised, without adding further details. 
The statement followed media reports on Wednesday stating that Adani Realty, the real estate unit of Indian billionaire Gautam Adani's Adani Enterprise, was in advanced talks to acquire a majority stake in Emaar India. 
 
Emaar started its operations in the country in 2005 and has a portfolio of residential and commercial properties in Gurugram, Mohali, Lucknow, Jaipur and Indore, according to its website. 
Besides India, it operates internationally in other markets including Saudi Arabia, Turkey and the US.   
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
 
 

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First Published: Jan 16 2025 | 6:49 PM IST

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