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Dubai's Emaar in Talks with Indian Groups, including Adani, to Sell Stake in Local Business

The logo of Dubai's Emaar Properties on a building under construction in Dubai, UAE, March 3, 2016. (Reuters)
The logo of Dubai's Emaar Properties on a building under construction in Dubai, UAE, March 3, 2016. (Reuters)
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Dubai's Emaar in Talks with Indian Groups, including Adani, to Sell Stake in Local Business

The logo of Dubai's Emaar Properties on a building under construction in Dubai, UAE, March 3, 2016. (Reuters)
The logo of Dubai's Emaar Properties on a building under construction in Dubai, UAE, March 3, 2016. (Reuters)

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 finalized, without adding further details, Reuters reported.

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.

Besides India, it operates internationally in other markets including Saudi Arabia, Türkiye and the US.

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Egypt's GDP Growth at 4.3% in Second Quarter vs 2.3% a Year Earlier

Residents of Ezbet Hamada in Cairo's El Matareya district peer from their balconies to celebrate a mass break-fast, "Iftar" during the holy fasting month of Ramadan in Cairo, Egypt, Saturday, March 15, 2025. (AP)
Residents of Ezbet Hamada in Cairo's El Matareya district peer from their balconies to celebrate a mass break-fast, "Iftar" during the holy fasting month of Ramadan in Cairo, Egypt, Saturday, March 15, 2025. (AP)
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Egypt's GDP Growth at 4.3% in Second Quarter vs 2.3% a Year Earlier

Residents of Ezbet Hamada in Cairo's El Matareya district peer from their balconies to celebrate a mass break-fast, "Iftar" during the holy fasting month of Ramadan in Cairo, Egypt, Saturday, March 15, 2025. (AP)
Residents of Ezbet Hamada in Cairo's El Matareya district peer from their balconies to celebrate a mass break-fast, "Iftar" during the holy fasting month of Ramadan in Cairo, Egypt, Saturday, March 15, 2025. (AP)

Egypt's GDP growth rate increased to 4.3% in the second quarter of its 2024/25 year compared with 2.3% in the same period a year earlier, the planning ministry said on Wednesday.

GDP grew along with total investments, though public investments were below 40% of the total. Several sectors supported growth, including non-oil manufacturing activity, which was up by 17.74%, and tourism activity, which surged 18%. The fiscal year began on July 1.

Some sectors contracted in the second quarter of fiscal 2024/25, including the Suez Canal, where activity fell by 70%.

Extraction activity growth fell 9.2%, on the back of oil extraction activity, which slipped 7.6% and gas by 19.6%.