Emaar Properties has proposed to buy the remaining public stake in Emaar Development for AED 15 per share, in a transaction reported to value the deal at about $3.4 billion.
The offer would give Emaar full control of its Dubai-listed residential development business and further consolidate its core real estate operations, according to reports from Arabian Gulf Business Insight, Arabian Business and The National.
Reports said the proposal is aimed at acquiring the shares Emaar does not already own in the unit.
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