Adani Realty and Dubai-based Emaar Group have reportedly ended discussions over the potential $1.4 billion sale of Emaar India Ltd.

due to disagreements on valuation, according to sources familiar with the matter. Talks between billionaire Gautam Adani’s real estate division and Emaar began earlier this year, with Bloomberg reporting in March that negotiations were underway. However, despite Emaar confirming interest from Indian buyers including Adani, the two sides failed to reach consensus on the company’s value. While talks have ceased for now, insiders suggest they could resume in the future. Adani Realty currently boasts a portfolio of 24 million square feet of developed property with an additional 61 million square feet under development. The acquisition of Emaar India would have significantly expanded Adani’s presence in India’s real estate market. Representatives from Adani declined to comment, while Emaar has yet to respond to requests for a statement on the matter.