Emaar Confirms No Stake Sale in India, Focuses on Strategic Joint Ventures
Dubai-based Emaar Properties has clarified that it has no plans to divest its stake in its Indian operations, while exploring potential joint ventures with leading Indian business groups, including the Adani Group. The announcement comes amid ongoing speculation about the company’s strategy in India and signals a renewed focus on growth through partnerships rather than asset sales.
In a filing to the Dubai Financial Market, Emaar stated that it is no longer considering the sale of any stake in its Indian entity. The company also noted that it is exploring collaboration opportunities with large Indian groups to expand its footprint in the country. Among potential partners, the Adani Group is highlighted as a key contender, reflecting its growing real estate presence through ventures like Adani Realty and Adani Properties, including redevelopment projects such as Dharavi in Mumbai.
Emaar first entered the Indian market in 2005 through a joint venture with MGF Development, investing approximately Rs. 8,500 crore under the Emaar MGF Land partnership. The company exited this joint venture in April 2016 through a demerger process but retained a significant presence in the country. Since then, Emaar India has developed a substantial portfolio of residential and commercial properties across major cities including Delhi-NCR, Mumbai, Mohali, Lucknow, Indore, and Jaipur.
Globally, Emaar Properties PJSC is recognized as one of the top real estate developers, with operations spanning West Asia, North Africa, and Asia. The company manages a land bank of around 1.7 billion square feet across the UAE and other key markets and has delivered more than 1,22,000 residential units since 2002. Emaar’s landmark projects, such as the Burj Khalifa and Dubai Mall, have reinforced its reputation as a global real estate powerhouse.
Industry analysts note that Emaar’s strategy in India is aimed at leveraging its brand strength while forming strategic alliances to accelerate growth. By exploring joint ventures, the company can expand into both residential and commercial sectors without undertaking a full-scale stake sale, thereby preserving long-term interests in the Indian market. Potential collaborations with established Indian conglomerates like the Adani Group could provide access to additional land, development expertise, and financing support.
Emaar’s clarification also comes amid increasing competition in India’s real estate sector, where both domestic and international developers are seeking partnerships to manage risk and optimize investments. Analysts suggest that joint ventures may allow Emaar to focus on high-value projects and large-scale developments while mitigating exposure to market volatility.
