❗️Dubai's Emaar weighs $3 billion buyout of construction subsidiary Dubai-based real estate developer Emaar Properties is reportedly weighing a potential buyout of its construction subsidiary, Emaar Development, in a deal valued at up to $3 billion, Bloomberg News reported on Tuesday, citing people familiar with the matter. Emaar Properties, which already holds just over 79 percent of the subsidiary, could announce the proposed transaction within days. The company is scheduled to hold a board meeting this week to review the proposal and has sought legal and financial advice, although discussions remain ongoing and no final decision has been reached. Emaar Development has a market capitalization of $13.68 billion, according to LSEG data. The developer, known for building the Burj Khalifa, the world's tallest building, has played a major role in establishing Dubai as a regional business and tourism hub, particularly during the post-COVID-19 real estate boom. In June, Emaar announced plans for an urban development project worth nearly $55 billion in Dubai, designed to accommodate 150,000 residents.