Emaar Development Acquires Land for $798 Million: Expanding Real Estate Opportunities in Dubai
Deal News | May 30, 2025 | Zawya
Emaar Development, the construction subsidiary of Emaar Properties, Dubai's largest publicly listed real estate firm, has acquired a significant plot of land in Ras Al Khor for AED 2.9 billion ($798 million) from Amlak Property Investment. The acquisition is part of Emaar's strategy to enhance its land bank amidst the emirate's thriving property market. Known for its major developments such as Downtown Dubai, Dubai Marina, and Dubai Creek Harbour, Emaar plans to finance this purchase entirely through internal resources, with the transaction completion projected by July 2025. This move aligns with Emaar Development's reputation as a leading developer of large-scale, build-to-sell properties, reinforcing its position by launching 12 new projects in the UAE during the first quarter of 2025.
Sectors
- Real Estate
- Construction
Geography
- United Arab Emirates – The article focuses on Emaar Development and its land acquisition in Ras Al Khor, Dubai, highlighting the UAE's vibrant real estate market.
Industry
- Real Estate – This article pertains to the real estate industry, as it discusses Emaar Development's acquisition of land for the purpose of launching new real estate projects in Dubai.
- Construction – Emaar Development is engaged in construction activities, notably through its build-to-sell assets and master-planned communities, making this sector relevant to the article.
Financials
- $798 million – The total cost of the land acquisition by Emaar Development, which includes the purchase price and associated transaction costs.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Emaar Development | Buyer | Company | The construction arm of Emaar Properties, responsible for acquiring the land in Ras Al Khor to expand its portfolio in the real estate market. |
| Emaar Properties | Parent Company | Company | Dubai's largest listed real estate firm, under which Emaar Development operates. |
| Amlak Property Investment | Vendor | Company | The company from which Emaar Development is acquiring the land in Ras Al Khor. |