In a significant shake-up for Dubai’s corporate landscape, the Investment Corporation of Dubai (ICD) has offloaded its entire stake in Emaar Properties, transferring the shares to Emirates Power Investment, a subsidiary of Dubai Holding. This strategic move means that Emirates Power Investment now controls 22.27% of Emaar’s total issued shares. Consequently, Dubai Holding’s cumulative stake in the real estate giant has climbed to 29.73%, cementing its position as Emaar’s primary shareholder and long-term investment partner.

The consolidation of these shares is intended to bolster the long-standing synergy between Emaar and Dubai Holding, fostering deeper collaboration across their various joint ventures and future initiatives. This corporate restructuring follows an impressive financial start to the year for Emaar, which recently reported a 33% surge in first-quarter net profit to Dh7.2 billion, alongside a 23% revenue increase to Dh12.4 billion. As Emaar continues to deliver strong growth across both its domestic and international portfolios, this ownership shift marks a new chapter in the company’s integration within Dubai’s broader investment ecosystem.