Emaar is set to acquire Dubai Creek Harbour through a deal with Dubai Holding.
Dubai Creek Harbour is a major development located along the Dubai Creek Waterfront.
The landmark has been sold for Dhs 7.5 billion, paid in cash and shares of Emaar Properties PJSC, making Dubai Holding the second largest shareholder of Emaar.
The partnership between Emaar and Dubai Holding started in 2013, to develop the Dubai Creek Harbour.
A spokesperson for Emaar said, “The purchase agreement with Dubai Holding represents another important achievement in Emaar’s rich history as we continue to expand our strategic land bank and build sustained value for our shareholders. We are determined to support the Government’s vision for sustainable urban development in Dubai while providing a redefined experience for residents and visitors.”