Dubai Ruler Gets Chunk of Developer Emaar in $2 Billion Deal

Emaar to buy Dubai Holding stake in the Creek Harbour project
Deal is latest in series of asset sales by state conglomerate

Sheikh Mohammed bin Rashid al-Maktoum, center, in Dubai in March. Photographer: Mahmoud Khaled/Getty Images

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By Adveith Nair and Zainab Fattah

August 12, 2022 at 5:47 AM UTC

Updated on

August 12, 2022 at 12:24 PM UTC

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Dubai’s ruler is set to become the second-largest shareholder in Emaar Properties PJSC as part of a 7.5 billion dirham ($2 billion) deal that will hand the real estate firm full control of a key development in the city.