Emaar says has sufficient resouces to pay for Emaar Development shareholders

09/11/2026 05:18 AST

Emaar Properties said it has sufficient resources to pay in full the cash consideration due to Emaar Development shareholders under its Dh15-a-share voluntary offer.

Emaar Properties and its subsidiary, Emirates Property Holdings Limited (EPHL), already hold 80.1613 per cent of Emaar Development. The offer covers the remaining 19.8387 per cent.

The confirmation appeared in the Offer Document published on the Dubai Financial Market, where it is listed.

Emaar Properties has announced plans to make a voluntary cash offer to acquire up to 100 per cent of the issued and paid-up share capital of Emaar Development that it does not already own.

The Dubai-based masterdeveloper last week offered Dh15 per share in cash to Emaar Developments shareholders.

According to the Offer Document, Emaar will buy all shares tendered, provided the offer's conditions are met or waived. It will also complete the deal without reaching the 90 per cent threshold needed to compulsorily acquire remaining shares.

If it does reach that threshold, Emaar intends to buy out the rest at Dh15, convert Emaar Development into a private joint stock company and delist it from the Dubai Financial Market (DFM).

The offer opened on November 6 and closes at 3pm UAE time on Thursday, December 10, unless extended by 14 days. Results will be announced on Friday, December 11.

The offer is expected to become unconditional within one month of closing. Payment follows within three business days after that, so cash could reach shareholders as late as mid-January 2027.

Emaar Properties reported an 18 per cent increase in net profit before tax to Dh19.8 billion for the first nine months of 2026, supported by strong property sales, construction progress and growth across its recurring income businesses. It recorded revenue of Dh37.5 billion for the nine months ended September 30, up 13 per cent from Dh33.1 billion during the corresponding period last year.

Khaleej Times