Emaar Properties, Dubai's largest listed real estate firm said in a statement that it is in talks with "a few groups" in India to sell a stake of its Indian business. However, aluation and other terms of a potential deal were not finalized yet.
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. Besides India, it operates internationally in other markets including Saudi Arabia, Turkey and the US.
As per the industry reports, Adani Realty, the real estate unit of Adani Enterprise, is in advanced talk to acquire a majority stake in Emaar India.
