Emaar - Business Outrank

It has been reported that the Adani Group is in advanced talks to buy the Indian operations of the real estate developer Emaar Group based in Dubai. The potential deal which is expected to be $1.4 billion may help Adani Group to strengthen its position in the Indian real estate sector. The structure of the transaction is being prepared and it has been reported that an unlisted Adani unit is likely to pump in about $400 million as equity for the acquisition. It should be noted that the talks are still ongoing and the final agreement may be signed as early as April though the deal is not yet guaranteed. Emaar had previously announced in January that it was in discussions with various entities, including Adani, for the possible disposal of its shares in Emaar India Ltd. If the acquisition happens, it will enhance Adani’s real estate portfolio. The company today holds 24 million sq ft of developed assets and has 61 million sq ft of development pipeline. Adani Group has recently come forward as the leading bidder to reconstruct one of the largest housing complexes in Mumbai, worth approximately Rs 36,000 crore. Also, Adani is leading the effort to transform Dharavi, one of the most crowded slums in the world, thus expanding its role in India’s urban development. Emaar India has also played a significant role in the real estate sector of the country and is present in different parts of the country including the national capital New Delhi, Punjab, Uttar Pradesh, Madhya Pradesh and Rajasthan. The company has introduced international standards in property development and thus helped in the development of India's infrastructure. Adani Group and Emaar have not yet released any statement regarding the deal as of now. The industry is eagerly waiting for the next developments as the negotiations are still in progress.

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