Gautam Adani, Founder and Chairman of the Adani Group, reportedly is in advanced discussions to acquire UAE’s largest premium developer, Emaar Group’s Indian division in a deal potentially valued at $1.4 billion. This move would significantly bolster the Adani family’s real estate portfolio within India.
Sources familiar with the matter indicate that the Adani family and Emaar are exploring various transaction structures, including a potential $400 million equity injection from an unlisted Adani entity. While talks are progressing, with a potential agreement as early as April, the deal’s completion is not guaranteed, reported Bloomberg.
Emaar had previously acknowledged discussions with several Indian groups, including Adani, regarding a possible stake sale in Emaar India Ltd. This acquisition would add to Adani’s already substantial real estate holdings, which currently include 24 million square feet of developed property and an additional 61 million square feet under development.
The Adani family has been actively expanding its real estate presence, recently emerging as the leading bidder for a major Mumbai housing redevelopment project estimated at 360 billion rupees. Furthermore, the group is undertaking the redevelopment of Mumbai’s Dharavi slum, a significant and high-profile project.
Emaar India develops residential and commercial projects across several Indian states, including New Delhi, Punjab, Uttar Pradesh, Madhya Pradesh, and Rajasthan. This potential acquisition signals Adani’s continued ambition to grow its real estate empire within the country.
