Emaar Development, a leading player in Dubai’s real estate sector, has finalized an agreement to acquire a substantial land parcel in the Ras Al Khor area. The AED 2.9 billion ($790 million) deal, inclusive of related transaction costs, was executed with Amlak Property Investment.
The acquisition was formally communicated to the Dubai Financial Market (DFM), where Emaar Development’s shares are publicly traded. The company emphasized the strategic nature of the purchase, underscoring its commitment to long-term expansion within Dubai’s property landscape.
Reinforcing Presence in Ras Al Khor
Emaar already maintains a prominent presence in Ras Al Khor through its landmark project, Dubai Creek Harbour. The development is widely recognized for its breathtaking views of the Burj Khalifa and Dubai’s skyline and is located near the serene Ras Al Khor Wildlife Sanctuary.
Supporting Future Growth and Expansion
In its statement, Emaar noted that the newly acquired land will significantly bolster its development pipeline. “This transaction supports our strategic growth ambitions by enhancing our land portfolio and enabling the launch of new real estate ventures aligned with our core business model,” the company stated.
Emaar anticipates concluding the transaction by July 31, 2025. The financial impact of the acquisition is expected to be reflected in either the second or third quarter results of the year. The company also confirmed that the purchase will be financed through internal resources.
Source: https://www.arabianbusiness.com/industries/real-estate/emaar-development-purchases-land-parcel-in-ras-al-khor-area-for-790mn
