Tender offer by Emaar Properties PJSC

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EMAAR Properties PJSC (“EMAAR Properties”) has published the Offer Document for its Voluntary Tender Offer (“VTO”) to acquire up to 100% of the issued and paid-up shares of EMAAR Development PJSC (“EMAAR Development”) that EMAAR Properties does not already own.

If you are a shareholder in EMAAR Development and you decide to accept the Offer, you will be entitled to receive AED 15.00 in cash for each one share you hold in EMAAR Development on transaction closing (the “Offer Price”).

The Offer Price of AED 15.00 per share represents an attractive premium of:

  • 19.4% premium to the closing share price of AED 12.56 per share on 2 November 2026, being the last trading day before the Board meeting announcement

  • 18.6% premium to the 1-month Volume Weighted Average Price (VWAP) of AED 12.65 per share as of 2 November 2026, being the last trading day before the Board meeting announcement

  • 15.7% premium to the 3-month Volume Weighted Average Price (VWAP) of AED 12.97 per share as of 2 November 2026, being the last trading day before the Board meeting announcement

  • 148.8% premium to the subscription price of Emaar Development’s shares prior to its listing on the DFM in November 2017, which was AED 6.03 per share

Publication of Offer Document
5 November 2026
Offer opening date
06 November 2026
Offer closing date
3:00PM on 10 December 2026 (unless extended for 14 days)
Offer results announcement
11 December 2026 (unless extended for additional 14 days)
Expected Unconditional Date
Within one (1) month of the Closing Date
Payment of consideration to EMAAR Development Shareholders
Within 3 Business Days after the Unconditional Date
Emaar Development PJSC Shares registered in the name of EMAAR Properties
Within 3 Business Days after the Unconditional Date
Market
DFM
Website
EMAAR Development
 
Offer Document
FAQs
Acceptance and Transfer Form
 
Terms and Conditions
Transfer Form To Dubai CSD

To make the process seamless, we’ve prepared a short video with simple steps.

Authentication

Step 1 – Authentication

Validate your NIN
Fill application

Step 2 – Fill Application

Enter your shares details
Submit request

Step 3 – Submit Request

Submit and get confirmation
Transfer shares

Step 4 – Transfer Your Shares to the Depository Account with Dubai CSD

In case your shares are held via a broker, please instruct your broker to move your shares to the Dubai CSD account

Alternatively, should you wish to tender your shares in person, please visit one of the participating Emirates NBD branches listed below with your valid passport or Emirates ID.

  • Dubai Jumeirah Branch, Emirates NBD Building, Al Wasl Rd Intersection, Umm Suqeim 3, Jumeirah, Dubai
  • Abu Dhabi Khalifa Branch, Ground Floor, Al Neem Building, Shaikh Khalifa Street, Abu Dhabi

The Offer Document is available on the EMAAR Development website, and you may obtain more information by telephone on 800 3623 476.

The deadline for the tender process is 3 PM (UAE time) on 10 December 2026.

Disclaimer: The Capital Market Authority (CMA), the Dubai Financial Market (DFM) and Dubai Central Depository Company (DCSD) shall not be liable for the content of this message and shall not submit any confirmation in relation to the accuracy or completeness thereof, and hereby expressly disclaim any responsibility for any loss arising from the content of this message or from relying on any part thereof.

EMIRATES BRANCH Location Working Hours IPO Working Hours Contact
Dubai Jumeirah Branch Emirates NBD Building, Al Wasl Rd Intersection, Umm Suquiem 3, Jumeirah, Dubai Monday to Thursday
(8:00 AM - 3:00 PM)
Friday
(8:00 AM - 11:30 AM) 		Monday to Thursday
(8:00 AM - 1:00 PM)
Friday
(8:00 AM - 11:00 AM) 		800 ENBD IPO
(800 3623 476)
Abu Dhabi Khalifa Branch Ground Floor, Al Neem Building, Shaikh Khalifa Street, Abu Dhabi Monday to Thursday
(8:00 AM - 3:00 PM)
Friday
(8:00 AM - 11:30 AM) 		Monday to Thursday
(8:00 AM - 1:00 PM)
Friday
(8:00 AM - 11:00 AM) 		800 ENBD IPO
(800 3623 476)

  • The Offer is being made by EMAAR Properties PJSC (“EMAAR Properties”)

  • The Offeror currently owns, directly and indirectly, 80.1613% of EMAAR Development PJSC

  • EMAAR Properties has submitted an offer document to shareholders to acquire up to 100% of the issued and paid-up share capital of EMAAR Development not already held, directly and indirectly, by EMAAR Properties

  • This will be through a cash offer of AED 15.00 per share

  • The Offer price of AED 15.00 per share represents an attractive premium of 19.4% to the last share price close of AED 12.56 as of 2 November 2026 (the last trading day before the publication of the Board announcement), a 18.6% premium to the 1-month volume weighted average price of AED 12.65 and 15.7% premium to the 3-month volume weighted average price of AED 12.97.

  • The premium versus EMAAR Development listing share price of AED 6.03, in November 2017, is 148.8%.