Cookie Consent by Privacy Policies Generator website Emaar Signs a Deal with Dubai Holding to Fully Acquire Dubai Creek Harbour : GoDubai.com

GoDubai
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>

 
  Share

Dubai - 12, August 2022:  Emaar Properties PJSC (DFM: EMAAR) announced today it would fully acquire Dubai Creek Harbour, the major development located along the historic Dubai Creek waterfront, from Dubai Holding for a consideration of AED 7.5 billion to be paid equally in cash and shares of Emaar Properties PJSC, thus making Dubai Holding the second largest shareholder of Emaar. 


Emaar recorded sales of AED 4.2 billion in 2021 and AED 3.6 billion sales in Dubai Creek Harbour in the first half of 2022. Dubai Creek Harbour has approximately 100 million sq. ft of future development which will provide future profit potential to Emaar. 


A spokesperson of Emaar said: “The purchase agreement with Dubai Holding represents another important achievement in Emaar's rich history as we continue to expand our strategic land bank and build sustained value for our shareholders. We are determined to support the Government's vision for sustainable urban development in Dubai while providing a redefined experience for residents and visitors.”


A spokesperson of Dubai Holding said: “We are pleased to announce the sale of Dubai Creek Harbour to Emaar, subject to finalisation. This is a landmark transaction that benefits both parties. As joint venture partners, we have created meaningful value in Dubai Creek Harbour, and the transaction represents a significant monetisation for us. We look forward to our investment in Emaar as a reference shareholder and the diversification benefits it offers, and we are confident that Dubai Creek Harbour will continue to reach greater heights and success.” 

 



Posted by : GoDubai Editorial Team
Viewed 7507 times
Posted on : Friday, August 12, 2022  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Summary-of-Weekly-Real-Estate-Transactions-for-the-Week-Ending-05-August-2022'
Next Story : Summary-of-Weekly-Real-Estate-Transactions-for-the-Week-Ending-29-July-2022
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
  • Dubai Municipality Continues to Hold Discussions with Customers and Investo... [5404-Views]
  • George Clooney and Hyun Bin Wear The OMEGA Speedmaster '57 [5371-Views]
  • Office Essentials With Catrice Cosmetics [5350-Views]
  • Introducing Moratti Jewellery [5027-Views]
  • Mohammed Bin Rashid Library Welcomes a Delegation from Mohammed Bin Rashid ... [4830-Views]
  • Expo Centre Sharjah to Host International Jewellery Designers Forum [4649-Views]
  • Etihad Airways Rated One of the World's Most Punctual Airlines Amid Challen... [4096-Views]
  • Danube Properties Launches My Dubai, My Home Campaign to Promote Home Acqui... [4043-Views]
  • Age in Reverse with Dr. Belmeur's New Total Youth Biome Range [3969-Views]
  • 92% of Parents in the UAE Say that play' is a Key Component in Helping Chi... [3915-Views]
  • UAE ranked #1 Destination Across Middle East, Africa and Asia to Relocate f... [3907-Views]
  • Discover What's Trending at The Home [3788-Views]
  • Etihad Rail Signs Memorandums of Understanding at Innotrans 2022 with Leadi... [3743-Views]
  • Enjoy Terrace Dining, Tunes and Turkish Delights as Ruby Passion for Meat G... [3735-Views]
  • Portento Sofa by Natuzzi Editions A Perfect Head-to-Toe Relaxation [3698-Views]
  • Sharjah Excellence Award Discusses Latest Developments for Upcoming Edition... [3641-Views]
  • Savour Flavourful Mediterranean Cuisine and Celebrate Great Food at Majlis ... [3440-Views]
  • Startup Sharjah Hackathon In Khorfakkan Equips 150 Youth With Business-buil... [3374-Views]
  • The UAE Banks Federation Holds its Third CEOs Advisory Council meeting in 2... [3366-Views]
  • Moving Towards A Greener Future With Sustainable Waterparks: How Are Waterp... [3141-Views]
  • The Largest Showroom of Malabar Gold & Diamonds in Abu Dhabi to Open in Maz... [3112-Views]
  • Ladies Collection [3100-Views]
  • Your Signature Style with Pandora. [3087-Views]
  • Seatrade Maritime Event Returns to Dubai in 2023 [2981-Views]
  • Gold Price Hits a Two Year Low: Best Time to Invest in Gold [2964-Views]
  • Dubai Muscle Show Champions Female Bodybuilding Talent By Offering a Stagge... [2870-Views]
  • Prepare Your Closet for Winter with Springfield's New Fall/Winter 2022 Coll... [2694-Views]
  • Mansoor is World Champion After Drama in Portugal [2677-Views]
  •  [2649-Views]
  • Dubai Customs Organizes 3rd DCCC Meeting 2022 Amid Expectations of More Eco... [2571-Views]
  • Instagram Launches New Parental Supervision Features for Teens in the MENA ... [2554-Views]
  • Rise Every Day: Mashreq redefines its role with historic new identity and c... [2546-Views]
  • Drive Home The All-new Kia Carens, Now Available at Al Majid Motors [2530-Views]
  • Treating Idiopathic Scoliosis Without Surgery [2480-Views]
  • Start-Up of Unit 3 of Barakah Nuclear Energy Plant Accelerates Achievement ... [2452-Views]
  • The UAE Ranks First in the MENA Region and 11th Globally in UNIDO's Quality... [2431-Views]
  • Dubai Cares' vision for global education transformation takes center stage ... [2407-Views]
  • Trade-in Responsibly with Virgin Megastore Switch! [2271-Views]
  • The International Council For Open and Distance Education [2267-Views]
  • Sharjah International Book Fair Returns for Its 41st Annual Run on 2nd Nove... [2263-Views]
  • Abu Dhabi Festival Presents the First ever inshad' Concert of its Kind at ... [2247-Views]
  • Kalyan Silks' 6th Showroom in UAE Inaugurated in Sharjah by Prithviraj Suku... [2234-Views]
  • ENEC Strengthens UAE-France Cooperation in Nuclear Energy Sector Through Ne... [2173-Views]
  • Sharjah Sustainable City Commences Handover Process for Villas in Phase 1 o... [2165-Views]
  • Timeless Round Sunglasses [2165-Views]
  • Samsung Pop-up Store Opens in Dubai Mall to Showcase Latest Foldable Series [2140-Views]
  • VFS Global Rolls Out First-ever Indonesia Fast-track Visa On Arrival Servic... [2116-Views]
  • Codebreakers Wanted! Unlock The Bremont Vault [2103-Views]
  • Celebrate New Goals with Hyundai Back to School Offers [2095-Views]
  • Dubai Municipality Participates in Ru'ya, Careers UAE Redefined 2022 [2091-Views]