Adani Group Eyes Acquisition of Emaar India

Gautam Adani's group is reportedly in advanced discussions to acquire Emaar India in a deal valued between USD 1.4-1.5 billion. This move marks Adani's expansion in the real estate sector, following significant projects like Dharavi's redevelopment. Emaar's stake sale discussions with Adani are not finalized.

The Adani Group, led by billionaire Gautam Adani, is reportedly on the verge of acquiring real estate firm Emaar India in a significant move estimated to be worth between USD 1.4 to 1.5 billion, according to credible sources.

Emaar Properties, a Dubai-based entity that entered the Indian real estate market in 2005, collaboratively invested over Rs 8,500 crore with MGF Development. The two parted ways in 2016 through a demerger arrangement. Emaar India retains a substantial portfolio across major Indian cities.

Although both parties have declined to comment, the acquisition could mark a major stride for Adani in India's real estate sector, complementing recent high-profile projects. Emaar awaits finalization of terms in its broader discussion to sell parts of its Indian operations.

(With inputs from agencies.)