Emaar Properties, one of Dubai’s largest real estate developers based in the UAE, has announced that they are in talks with a few Indian groups to sell a stake of their local business. Adani Group has been named as one of them.

Emaar’s role in reshaping the skyline of Dubai as the builder of Burj Khalifa, and several large-scale projects, has earned the company a listing on the Dubai Financial Market.

Emaar, which started operations in India in 2005, has said that the terms of a potential deal and matters related to valuation have not yet been finalised.

Adani Realty of billionaire Gautam Adani’s Adani Enterprise is believed to be in serious talks to acquire a majority stake in Emaar India. – editor@nrifocus.com