Investment Corporation Of Dubai Transfers Emaar's Entire Stake To Dubai Holding Subsidiary

(MENAFN- Khaleej Times) Investment Corporation of Dubai (ICD) has transferred its entire shareholding in Emaar Properties to Emirates Power Investment, a subsidiary of Dubai Holding, Emaar announced late on Monday.

In a statement posted on the Dubai Financial Market, where Emaar is listed, the developer said Emirates Power Investment now owns 22.2723 per cent of the total issued shares, while ICD no longer holds any shares in Emaar Properties.

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“Following completion of the transaction, the total shareholding of the Dubai Holding group in Emaar Properties has increased to 29.73 per cent,” the statement said.

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As a result of the transaction, Dubai Holding will become Emaar's largest shareholder and continue as a long-term investor, the company added.

“The transaction reinforces the strategic partnership between Emaar Properties and Dubai Holding, building on a long-standing relationship supported by continued collaboration across key joint ventures and other initiatives,” the statement said.

Earlier on Monday, Emaar Properties announced a net profit before tax of Dh7.2 billion ($2 billion) for the first quarter of 2026, marking a 33 per cent increase compared to the same period last year.

Total revenue for the period reached Dh12.4 billion ($3.4 billion), up 23 per cent year-on-year, supported by contributions from both UAE and international operations.

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