Emaar bids for the rest of Emaar Development. What DLD sales say about its biggest communities
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What happened
On 4 November, Emaar Properties told the Dubai Financial Market that it plans a cash offer of AED 15 a share for the part of Emaar Development it does not already own. Emaar holds just over 79%, so the offer covers about 21%. The offer still needs approval from Emaar Properties' board. Bloomberg puts the cost at as much as AED 12.6 billion. It also reports that AED 15 is above Emaar Development's last close of AED 13.90, but about 25% below its February high.
What the DLD data says
The offer is about the company's shares, not about homes. Still, the share price is a bet on the same market that buyers see, so we looked at ready resales in six large communities that Emaar developed, some of them with partners.
Ready-sale price index, 2026 Q3 (mix-adjusted, DLD sales):
| Community | vs 2025 Q3 | vs peak since 2025 | New-lease rents vs 2025 Q3 | Off-plan share of sales, last 12 months |
|---|---|---|---|---|
| Downtown Dubai | −4.8% | −7.3% | −15.0% | 42% |
| Dubai Hills Estate | −0.7% | −6.8% | −9.5% | 67% |
| Dubai Creek Harbour | −4.1% | −6.7% | −9.9% | 74% |
| Arabian Ranches | −4.6% | −5.1% | −3.1% | 1% |
| Arabian Ranches 2 | −7.1% | −9.3% | −6.5% | 0% |
| Arabian Ranches 3 | −7.1% | −11.2% | −9.9% | 52% |
- Every one is below last year. In 2026 Q3 the ready-sale index was between 0.7% and 7.1% lower than a year earlier, and 5% to 11% below its peak since early 2025.
- Rents fell too, most of all in Downtown (−15% for new leases year on year).
- Off-plan dominates the newer communities. In Creek Harbour, Dubai Hills and Arabian Ranches 3, most sales in the last 12 months were off-plan, so ready resales there compete with new launches.
Arabian Ranches 2 had only 79 ready sales in 12 months, so its index moves more from quarter to quarter.
What it means
- A market price, not a home price. The offer sets a value on the company. It does not change what a flat in Downtown or a villa in the Ranches is worth. For that, look at the sales of the same building or project.
- Year-old asking prices may be stale. Ready prices in these communities are below where they were a year ago. A price that matches 2025 Q3 comparables is no longer a discount.
- Check rent before yield. Rents for new leases fell faster than prices in Downtown, Dubai Hills and Creek Harbour. A yield based on last year's rent may be too high.
Sources
- The National, 4 November 2026, and Bloomberg, 4 November 2026 (links above), for the offer.
- FairSqft analysis of Dubai Land Department open data (transactions and Ejari rent contracts) published on data.dubai, as of 26 October 2026. Index method: https://fairsqft.com/method/