Adani Realty will likely be one of the top five Indian realtors by revenue if it acquires Emaar India, the Indian arm of the Dubai-based Emaar group.
According to the discussion Emaar is likely to hold a company value between Rs. 4,000- and 5,000 crore. The deal will also be the largest real estate deal by Adani Realty, confirmed Emaar. The deal will strengthen Adani Realty’s stature in the market and will help it expand its footprints in the western part of India.
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“With reference to the media reports regarding the discussion with Adani Group about the Company’s business in India, the company would like to confirm that it is currently in discussion with few groups in India, including Adani Group for a potential sale of a stake in Emaar India. The valuation and the other terms of a potential transaction are not finalised,” Emaar Group said in a statement.
Headquartered in the United Arab Emirates and has fund backing from Dubai’s ruler Mohmmad Bin Rashid Al Maktoum and the Investment Corporation of Dubai. The investment Corporation is also the sovereign wealth fund amongst the largest shareholders.
In Gurugram, Emaar India holds a vast land parcel and has diverse verticals like residential and commercial.
Housing Sale in Top Eight Indian Cities Soar in 2024 Knight Frank Report
Indian real estate’s bull run continues as top Indian eight cities witness 7% rise in 2024. According to the Knight Frank India report, the figure marks 12-year high based on key major features. Including demand for luxury homes in India, stable interest rates, and economic growth.
The housing units sale figure rose from 329,097 in 2023 to 350, 613 in 2024 in top eight Indian cities.
Mumbai topped the list with highest sale volume of 96,470 housing units that is 4 percent high than 96,187 units in 2023. Followed by Bengaluru with a steep growth of 2% YoY (55,362 housing unit sale) at 10-year high.
Hyderabad and Pune marked highest of all time sale at 36,974 and 57,346 housing units respectively.