Dubai: Emaar Properties has announced the acquisition of a major land parcel in Ras Al Khor for AED 2.98 billion, further strengthening its land bank in Dubai. The purchase aligns with the company’s long-term strategic growth objectives and reinforces its position as one of the region’s leading real estate developers.
The seller, Amlak Property Investment—a DFM-listed entity—is offloading non-core assets as part of an ongoing financial and operational restructuring. This deal marks the second major land transaction in Dubai this week, following BinGhatti’s acquisition in Nad Al Sheba to support its AED 25 billion development portfolio.
In a statement, Emaar said: “This land purchase will support the company’s strategic growth objectives. Acquiring this site enables us to expand our land portfolio and launch new developments aligned with our core business.”
The Ras Al Khor acquisition complements Emaar’s 2022 move to fully acquire Dubai Creek Harbour from Dubai Holding in a AED 7.5 billion cash-and-share transaction. With its prominent high-rises and strong market demand, Dubai Creek Harbour continues to drive Emaar’s sales growth.
The developer is also seeing robust interest in newly launched communities like The Valley and The Oasis. As of Q1 2025, Emaar reported a revenue backlog of AED 127 billion—up 62% year-on-year—highlighting continued investor confidence and strong demand.
The Ras Al Khor transaction is expected to proceed on or before June 30, with final closing anticipated by July 31.
