Gautam Adani Asias second-richest person is reportedly in discussions to acquire the Indian business of Dubai-based Emaar Group for a deal of approximately $1.4 billion. This acquisition can help the Adani Group to improve its portfolio in the real estate sector. Emaar Group In India According to Emaar Groups website the company has 24 million square feet of developed property in India and 61 million square feet is under development. The firm is in cities like Delhi Punjab Uttar Pradesh Madhya Pradesh and Rajasthan where it develops residential and commercial properties. Emaar is known for its landmark projects like Dubais iconic Burj Khalifa and the Downtown Dubai area. Bloomberg has reported that discussions between the Adani family and Emaar Group are in the final stages. As part of this potential acquisition an unlisted unit of the Adani Group is expected to invest around $400 million. The agreement could be finalized as early as April though there is no guarantee the deal will be successful as discussions are ongoing. Adani’s Real Estate  Adani already has big real estate projects with him like redevelopment of Mumbais Dharavi slum one of the largest slum rehabilitation projects in Asia. The redevelopment project of Rs 360 billion (around $4.3 billion) to change Dharavi into a modern urban housing and commercial hub. Emaar’s India Operations  In January Emaar announced that it was in talks with several Indian business groups including Adani to sell its India unit Emaar India Limited. The Dubai-based company is known for its vast operations in real estate retail and hospitality worldwide.  If Adani successfully acquires Emaar’s Indian business it will be a big achivement in the groups real estate expansion strategy.