#Dubai's Emaar buys remaining 35% of resort developer Mirage: exclusive - The National

Dubai's Emaar buys remaining 35% of resort developer Mirage: exclusive - The National:

Dubai's blue-chip property developer, Emaar Properties, completed its buy-out of development management company Mirage Leisure and Development, taking the remaining 35 per cent of the business it did not already own for Dh66.5 million.

The developer secured a 65 per cent stake in Mirage in October 2015 for Dh123.5m, but financial statements filed last week show that it acquired the remainder of the firm at the end of April this year.

"Managing Mirage fully is the best fit for Emaar as the company performs exceptionally well and also manages the development of Emaar’s hospitality assets," a spokesman for Emaar Properties told The National.