Dubai Holding and Investment Corporation of Dubai announced on 11 May the completion of a transaction under which Dubai Holding acquired a 22.27% equity stake in Emaar Properties from ICD. This move strengthens Dubai Holding’s position as the largest single shareholder in Emaar Properties, increasing its total shareholding in the company to 29.73%.
Emaar Properties stated that ICD transferred its entire stake in the company to Emirates Power Investment, a wholly owned subsidiary of Dubai Holding. The transaction was executed through the Dubai Central Securities Depository, according to a statement published on the Dubai Financial Market.
Following the transaction, Emirates Power Investment now holds a 22.27% stake in Emaar Properties, while ICD no longer owns any shares in the company. The transaction represents a change in shareholding of more than 10%.
The timing of the transaction coincides with a period of strong performance for Emaar Properties. In the first quarter of 2026, the company reported revenue of AED 12.4 billion ($3.4 billion), marking a 23% year-on-year increase. Property sales also rose by 16% to AED 22.4 billion ($6.1 billion).
This strategic move by Dubai Holding reflects Dubai’s broader ambition to strengthen its position as a global hub for real estate investment. Emaar has long been regarded as a bellwether in the emirate’s real estate sector and has played a key role in shaping Dubai’s skyline with iconic developments such as the Burj Khalifa and several master-planned communities.
The acquisition is expected to enable Dubai Holding to play a more active role in Emaar’s strategic direction and development initiatives, while further supporting Dubai’s policies, infrastructure growth, and tourism sector in attracting investors and residents to the UAE.
Emaar Properties, listed on the Dubai Financial Market, is among the largest real estate developers in the Gulf region. The company has a diversified portfolio comprising residential, commercial, hospitality, and retail assets.
Emaar has established a strong presence across the Middle East, North Africa, Asia, and Europe, supported by a robust development pipeline and a high-quality portfolio of recurring income-generating assets.
Dubai Holding is a diversified global investment company established in 2004. The company has investments across more than 30 countries and employs over 45,000 people worldwide.
Its portfolio includes assets worth more than AED 500 billion, contributing to the growth and diversification of Dubai’s economy across 10 key sectors, including real estate, hospitality, entertainment, retail, media, and investments.
Investment Corporation of Dubai (ICD) is the principal investment arm of the Government of Dubai. It was established in May 2006 under Decree No. (11) of 2006 and is mandated with the consolidation and management of the Government of Dubai’s portfolio of commercial companies and investments.
ICD also provides financial and strategic oversight to its portfolio companies to support the long-term economic interests of the Emirate of Dubai.
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