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Emaar Properties PJSC
Emaar Properties, the Dubai-based Public Joint Stock Company, is listed on the Dubai Financial Market and is part of the Dow Jones Arabia Titans Index. The company recently announced record revenue and net profits of AED5.079 billion (US$1.383 billion) and AED3.053 billion (US$0.831 billion) respectively, for the half year ended 30 June 2006. The revenue and profit for the second quarter of 2006 (April to June) were AED2.840 billion (US$0.773 billion) and AED 1.536 billion (US$0.418 billion) respectively.In December 2005 Emaar was awarded the Euromoney Gulf Real Estate Award for Best Overall Developer in the UAE as well as Best Residential Developer in the UAE. The awards, voted for by industry peers, took into account factors such as most consistent providers of high quality, profitable real estate projects and innovation as well as individual developments, both recently completed and those at the planning stage.Emaar has several real estate projects in its primary market of Dubai in various stages of completion. These include Dubai Marina, Arabian Ranches, Emirates Hills, The Meadows, The Springs, The Greens, The Lakes and The Views. The company has witnessed tremendous growth since its inception in 1997 and boasts a rapidly growing tenant base with more than 13,000 homes handed over to satisfied customers to date.Emaar has begun construction of its most ambitious project within the UAE, the AED 73 billion (US$20 billion) Burj Dubai Downtown development, which comprises Burj Dubai - stated to be the world�s tallest tower when completed in 2008; The Dubai Mall - the world�s largest entertainment and shopping mall; Burj Dubai Boulevard; Burj Dubai Business Hub; The Lofts; Burj Dubai Lake Hotel and Serviced Apartments; The Old Town; The Old Town Island; man-made lakes; landscaped parks and gardens.In line with its international expansion strategy, Emaar has joint ventures and projects across the region covering India, Egypt, Turkey, Morocco, Syria, Pakistan, Tunisia and Saudi Arabia. Major international projects include: Uptown Cairo in Egypt; Boulder Hills, a world-class leisure and residential community in Hyderabad, India; multiple resort projects in Morocco, including Amelkis II & III and Bahia Bay, luxury residential golfing communities; Eighth Gate project in Damascus, the city�s first master planned community; and Lakeside in Istanbul, a landmark development for Turkey�s cultural and commercial hub. One of Emaar�s most recent international developments is that of the 55 million square metres King Abdullah Economic City in the Kingdom of Saudi Arabia. As the single largest private sector investment in the Kingdom of AED 97.7 billion (US$26.6 billion), the mixed use City will extend along a 35 kilometre shoreline and is strategically located between the two Holy Cities of Makkah and Madina and the commercial hub of Jeddah. The City will create six distinct components - a modern world-class Seaport, Industrial District, Financial Island, Education & Healthcare Zone, Resorts and The Residential Area and up to 500,000 employment opportunities. While property development was the initial rider of Emaar, today, through its Vision 2010, the company is diversifying into retail, leisure, hospitality, health, education and finance to become one of the world�s most valuable companies in less than five years - further building value for its 59,000 shareholders, which includes the Government of Dubai.Recently the award winning property developer announced plans to aggressively expand into the retail sector with investments of over AED 15 billion (US$4 billion) to develop approximately 100 malls in the mega emerging markets of the Middle East, North Africa (MENA) and the Indian subcontinent. In addition, Emaar has teamed up with Giorgio Armani S.p.A to build and manage 10 Armani hotels and resorts across the world; an Armani hotel will feature in Emaar�s flagship Burj Dubai tower and other locations will include Milan, London, Shanghai, New York and Tokyo. Emaar owns and manages EMRILL, a joint venture with the UK-based Carillion which provides innovative property and facilities management services. Emaar also holds 30 per cent equity in Dubai Bank, focused on retail and commercial banking and is the majority shareholder in Amlak Finance, UAE�s leading Islamic home financing company.
Dubai
UAE
9714 3673333
9714 3673000
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 Real Estate & Property » Real Estate Developers
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