The Dubai Creek divides Deira and Bur Dubai, two important neighborhoods that have contributed significantly to the development of Dubai into the megacity it is today, in the city’s center. Although the Creek is simply a saltwater inlet, it has evolved through time into the center of the city’s economic and residential activities. These Dubai Creek facts will enlighten history fans and people who enjoy all things vintage about one of the city’s most popular tourist spots. We will talk further about the acquisition deal of Dubai Creek Harbor.
Some Fun Dubai Creek Facts
Historically, Dubai Creek was well-known for beginning in the Ras Al Khor Wildlife Sanctuary and running between Deira and Bur Dubai. The waters of the creek now run through Business Bay and Jumeirah after being widened into the Dubai Water Canal. Most people imagine Dubai Creek when you say old-style buildings, a mystical vibe, and traditional-style wooden displays, but it’s more modern than you may imagine. You may enjoy this location’s magnificent park with your family and friends. Check out our article about the great things to do at Creek Park Dubai for more information.
Dubai Holding, One Side of the Acquisition deal of Dubai Creek Harbor
Over 20,000 individuals are employed by Dubai Holding, a diverse international investment business with activities in 13 nations. Dubai Holding, founded in 2004, has a significant impact on the lives of millions of residents and visitors to Dubai through its broad portfolio of more than AED 130 billion in assets. These resources help Dubai’s economy diversify and grow sustainably across ten important industries, including education, real estate, hospitality, media, ICT, leisure & entertainment, design, retail, science, and manufacturing & logistics.
Emaar Properties, the Other Side of the Acquisition deal of Dubai Creek Harbor
A worldwide Emirati real estate development firm with offices in the United Arab Emirates is called Emaar Properties or Emaar Developments. One of the most prestigious and renowned real estate development firms in the world, Emaar Properties is well-known for its work on several significant initiatives, including the construction of the Burj Khalifa, the highest structure in the world. We have provided information about living in Burj Khalifa Dubai, feel free to check it out if you are interested. Emaar develops new lives with a focus on top-notch construction, outstanding design, and prompt delivery. The business has proven experience in hotels, leisure, real estate, and shopping centers. We also have provided information about fascinating Emaar projects if you are really interested.
The acquisition deal of Dubai Creek Harbor
Dubai Holding will become Emaar Properties PJSC’s second-largest shareholder as a result of today’s announcement that Emaar Properties PJSC (DFM: EMAAR) will fully acquire Dubai Creek Harbor, the significant development situated along the historic Dubai Creek waterfront. The purchase price of AED 7.5 billion will be split equally between cash and shares of Emaar Properties PJSC.
In 2021, Emaar made AED 4.2 billion in sales, while in the first half of 2022, Dubai Creek Harbor made AED 3.6 billion in sales. Future construction at Dubai Creek Harbor will add about 100 million square feet, giving Emaar the chance to generate money down the road.
Emaar Properties’ View Regarding the Acquisition Deal of Dubai Creek Harbor
A spokeswoman for Emaar stated: ” The deal with Dubai Holding to purchase Emaar is yet another significant milestone in the storied history of the company as we work to grow our strategic land bank and provide shareholders long-term value. We are committed to helping the government realize its goal for Dubai’s urban growth while offering both residents and visitors a new kind of experience.
Dubai Holding’s View Regarding the Acquisition Deal of Dubai Creek Harbor
“We are delighted to announce the sale of Dubai Creek Harbor to Emaar, subject to finalization” stated a representative for Dubai Holding. This historic deal is advantageous to all sides. We have added tremendous value to Dubai Creek Harbor as joint venture partners, and the sale represents a sizeable profit for us. We are excited about the benefits of diversification provided by our reference shareholder investment in Emaar, and we are convinced that Dubai Creek Harbor will continue to achieve greater success.
A Few Last Words About the Acquisition Deal of Dubai Creek Harbor
Here was the most recent information on Emaar Properties’ acquisition deal of Dubai Creek Harbor, which pointed to a promising future for Dubai Creek. Potential buyers and investors may find more homes for sale in Dubai than anyplace else, ranging from luxurious flats to upmarket villas. For more information check out Dubai off plan projects and Dubai properties for sale if you want to buy or rent a satisfying property in Dubai.
Given how greatly this neighborhood is improving, Dubai Creek Harbor is a paradise for anyone searching for luxury apartments in Dubai for their family. There are many Dubai Creek Harbour properties for sale in this lovely area of the city, whether you’re seeking for a family home to settle in Dubai or interested in buying investment properties in Dubai.