Emaar Properties, Dubai’s largest listed real estate firm, is in talks with “a few groups” in India including Adani Group to sell a stake of its Indian business, it said on Thursday.
The builder of the world’s tallest building, the Burj Khalifa, and other iconic parts of Dubai, said in a statement that the valuation and other terms of a potential deal were not finalised, without adding further details.
The statement followed media reports on Wednesday stating that Adani Realty, the real estate unit of Indian billionaire Gautam Adani’s Adani Enterprise, was in advanced talks to acquire a majority stake in Emaar India.
Emaar started its operations in the country in 2005 and has a portfolio of residential and commercial properties in Gurugram, Mohali, Lucknow, Jaipur and Indore, according to its website.
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