Category: General

FY 2017 revenue increased by 21% to AED 18.812 billion (US$ 5.122 billion)Shopping malls, hospitality and leisure and entertainment businesses account for 34% of revenue at AED 6.351 billion (US$ 1.729 billion)Successful listing of Emaar Development PJSC on Dubai Financial Market (DFM) by selling 20% of shareholding though initial public offering (IPO)Exceptional Dividend of AED 4 billion (US$ 1.089 billion) from the proceeds of Emaar Development IPO
Dubai, UAE; February 14, 2018: Emaar Properties PJSC (DFM: EMAAR) recorded a net operating profit of AED 5.704 billion (US$ 1.553 billion) during full-year (January to December) 2017, a growth of 16 per cent over the FY 2016 net operating profit of AED 4.917 billion (US$ 1.339 billion). Total revenue for FY 2017 increased by 21 per cent to AED 18.812 billion (US$ 5.122 billion), over FY 2016 revenue of AED 15.540 billion (US$ 4.231 billion).

In 2017, Emaar successfully listed its UAE build-to-sell property development business, Emaar Development, by selling its 20 per cent stake through IPO and raised AED 4.824 billion (US$ 1.313 billion) and also announced AED 4 billion (US$ 1.089 billion) of exceptional dividend from the proceeds of the IPO.

Emaar Development (DFM: EMAARDEV), majority-owned by Emaar Properties, reported total revenue of AED 8.863 billion (US$ 2.413 billion), a growth of 28 per cent compared to AED 6.899 billion (US$ 1.878 billion) in FY 2016. The Company also achieved record sales of AED 18.03 billion (US$ 4.91 billion) in FY 2017, an increase of 25 per cent over FY 2016 sales of AED 14.4 billion (US$ 3.92 billion). Emaar Development now has a sales backlog of around AED 41 billion (US$ 11 billion) as of December 31, 2017, highlighting the robust fundamentals of the company with more than 24,000 residential units to be delivered over the coming years.

Underpinning the success of Emaar’s business segmentation, its shopping malls, hospitality and leisure and entertainment businesses together accounted revenue of AED 6.351 billion (US$ 1.729 billion) representing 34 per cent of the total revenue of FY 2017, 6 per cent higher than FY 2016 revenue of AED 5.976 billion (US$ 1.627 billion).

Revenue from Emaar’s international development operations was AED 3.603 billion (US$ 981 million) during FY 2017, a growth of 35 per cent over FY 2016 revenue of AED 2.665 billion (US$ 726 million); global operations now account for 19 per cent of Emaar’s total revenue.

During the fourth quarter (October to December) 2017, Emaar Properties recorded a revenue of AED 5.360 billion (US$ 1.459 billion), 21 per cent higher than Q4 2016 revenue of AED 4.437 billion (US$ 1.208 billion). Emaar recorded a net operating profit of AED 1.357 billion (US$ 369 million) during the same period, 5 per cent higher than the net operating profit earned during fourth quarter 2016.

A commitment to value creation

Mohamed Alabbar, Chairman of Emaar Properties, said that the company’s strategic growth initiatives, underlined by the Emaar Development IPO as well as the expansion of its shopping malls and hospitality business, highlight Emaar’s commitment to long-term value creation for its stakeholders.

“The growth of our businesses in 2017, across all markets, reflects the success of our focus on delivering high quality lifestyle choices. Setting benchmarks in design, build quality and the choice of amenities, our property developments are sought-after by investors while our malls business is setting retail trends by serving as retail and leisure destinations of choice. Emaar’s hospitality and leisure operations have also gained further traction through geographic expansion and the creation of innovative experiences,” said Alabbar.

He added: “With our significant sales backlog and a robust development pipeline in the UAE and in high-growth international markets, we will continue to deliver on our founding objective of ‘shaping the future.’ In this journey, we derive our inspiration and guidance from the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President & Prime Minister and Ruler of Dubai, and remain committed to the transformational growth of our nation as a global business, leisure and investment hub.”

Creating prime property assets

A driver of the company’s growth, Emaar’s property development business achieved new milestones in project delivery during 2017. To date, the company has handed over 45,900 residential units in Dubai and global markets since 2002, with over 34,800 units delivered in UAE alone.

In 2017, Emaar rolled out many new residential launches in Dubai Creek Harbour, Dubai Hills Estate, Emaar South, Arabian Ranches II and Downtown Dubai, all of them reporting strong investor response.

Continuing its track-record of on-schedule project management, Emaar has made significant progress in the construction of Dubai Creek Tower, the new global icon that will create a new skyline for the nation.

Creating prime property assets Redefining the retail and hospitality landscape

Emaar Malls (DFM: EMAARMALLS), the shopping malls and retail business majority-owned by Emaar Properties, recorded FY 2017 revenue of AED 3.629 billion (US$ 988 million), a growth of 12 per cent over FY 2016 revenue of AED 3.227 billion (US$ 879 million). Together, the malls and retail centres of Emaar Malls welcomed 130 million visitors in 2017, 4 per cent higher than the visitor turnout of 125 million during FY 2016.

The Dubai Mall, the flagship retail and leisure destination of Emaar Malls, welcomed 80 million visitors in 2017, similar to visitors it has welcomed annually since 2014. The Dubai Mall Fashion Avenue Expansion and the new Springs Village are set to open this year. In addition to the planned high-end retail district in Dubai Creek Harbour and the ongoing expansion of The Dubai Mall, Emaar announced the Dubai Hills Mall in Dubai Hills Estate. Emaar has also expanded its retail and leisure footprint in international market by opening of Emaar Square mall in Turkey in FY 2017.

Emaar’s hospitality & leisure, commercial leasing and entertainment businesses recorded revenue of AED 2.722 billion (US$ 741 million) in the FY 2017.

With three hotel brands – Address Hotels + Resorts, Vida Hotels and Resorts and Rove Hotels (joint venture with Meraas) – Emaar’s hospitality business recorded an average occupancy of 79 per cent, higher than Dubai’s industry average. Emaar Hospitality Group opened three new hotels in 2017 – Address Boulevard in Downtown Dubai, Rove Healthcare City and Rove Trade Centre – and will mark several new openings in the coming years. The Group now has a number of upcoming hotel projects in the UAE and other international markets including Saudi Arabia, Turkey, Egypt, Bahrain and The Maldives.

New GUINNESS WORLD RECORDS title achieved for light and sound show on a single building with Burj Khalifa show spanning over 109,252 sq metresOver a million visitors join the never-before celebration highlighted by mesmerising laser, light and musical fountain showCelebration highlights the achievements of the UAE and marks the Year of Zayed to commemorate the 100th anniversary of the birth of the late Sheikh Zayed bin Sultan Al Nahyan
The UAE once again captivated the world this New Year’s Eve with a dazzling spectacle to usher in 2018. Emaar’s ‘Light Up 2018’ Downtown Dubai celebration hosted more than a million visitors from across the world and reached an estimated 2.5 billion people worldwide through live television broadcast and social media livestreams.

The mesmerising laser, light and musical fountain show not only had a spellbinding effect on spectators, but Emaar’s ‘Light Up 2018’ also clinched the GUINNESS WORLD RECORDS title for the ‘largest light and sound show on a single building,’ staged on Burj Khalifa, the global icon. The record beats that set in Hong Kong in 2013 on the ICC Building which was over an area of 46,641.52 sq metres. ‘Light Up 2018’ on Burj Khalifa, by contrast, spanned an impressive surface area of 109,252 sq metres (about 27 acres, the size of about 20 football fields) – more than double that of the earlier record set.

New Year’s Eve in Downtown Dubai was about much more than the record-breaking event that was one component of the show, as brilliant laser beams in multiple hues enveloped the night sky over Downtown Dubai, complementing the new LED panel displays of Burj Khalifa with over 1.1 million pixels, and the musical water performance of The Dubai Fountain.

Taking five months of constant preparation, ‘Light Up 2018’ put Dubai and the UAE in the global spotlight through its futuristic approach to New Year’s Eve gala celebrations. Environmentally-friendly, safe and spectacular, it served as a testament to the ‘can do’ ability of the nation with an international team collaborating to create a never-attempted-before feat.

A highlight of the show was the visual tribute to the founding father of the UAE, the late Sheikh Zayed bin Sultan Al Nahyan, to coincide with the nation commemorating 2018 as the ‘Year of Zayed’ to mark the 100th anniversary of his birth.

Mohamed Alabbar, Chairman of Emaar Properties, said: “The UAE celebrates positivity and hope. The nation and its leadership inspire the world through breakthrough achievements while creating opportunities for people and businesses to thrive. The ‘Light Up 2018’ spectacle is our tribute to the nation, celebrating its accomplishments, and putting the UAE on the global map as a true hub where inspiring minds meet and connect.

“His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President & Prime Minister and Ruler of Dubai, urges us to push our boundaries and to be innovative and creative. With ‘Light Up 2018,’ we have set a new template for New Year’s Eve galas, where the focus is on leveraging the newest technologies to present a spectacle that is novel and breathtaking.”

On the spectacular event, Talal Omar, Country Manager, GUINNESS WORLD RECORDS, said: “As the global authority on record-breaking we have seen fascinating things from all over the world. However, we are always keen to find out what records Emaar plan to attempt each year, and to support them as they continue to push the boundaries of technology and innovation in these attempts.”

Record Breaking Numbers
Breaking the GUINNESS WORLD RECORDS title with ‘Light Up 2018’ required a total installation of lights, beams and accessories weighing over 118.44 tonnes, and more than 28.7 km of cables – including 7.7 km of power cabling and 21 km of network and signal cabling.

The show transformed Downtown Dubai into one of the world’s brightest spots, measuring 76.3 million lumens of brightness. Carefully choreographed lasers certified as completely safe to human eyes and energy-efficient LED bulbs were rigged using 25.3 km of ropes and supported by 20 tonnes of special customised-steel mounting equipment.

In all, more than 40 specially modified outdoor lasers as well as 230 high power Xenon searchlights and 280 outdoor beam moving lights were deployed, underpinned by the highest searchlight installation and highest laser installations in the world at 828 metres – the height of Burj Khalifa. More than 300 professionals worked on-site including 100 rope-access experts; collectively they travelled over one million kilometres to join the project.

A dazzling show to remember
Emaar’s ‘Light Up 2018’ kicked off with on-ground celebrations from 5pm with performances of The Dubai Fountain every 15 minutes and a live DJ keeping audiences entertained in the run up to midnight.

At two minutes to the New Year, ‘Light Up 2018’ began. Following a glittering display on Burj Khalifa – with powerful laser beams and LED lights creating inspiring motifs and patterns in myriad hues flickering up and down the entire height of the tower – it was time for the countdown. In the darkness, Burj Khalifa was the hero, coming alive to the colours of the UAE flag – red, green, white and black – with the seconds remaining in 2017 ticking down on the tower’s façade.

Ushering in the New Year, the celebration continued with a tribute to the UAE and Dubai, a mark of solidarity to the friendly GCC nations, a spectacular display to mark the ‘Year of Zayed’ as well as an abstract depiction of the elements of nature. The display also featured the free-flight of a falcon and a rendering of the upcoming icon by Emaar, the Dubai Creek Tower in Dubai Creek Harbour.

Special viewing platforms were set up across Burj Park, the primary venue of the event, as well as across Downtown Dubai. For the first time, a dedicated space was curated for People with Determination in South Ridge, overlooking Burj Park, that accommodated more than 100 people, offering them direct views of the celebration.

The entire show was displayed on big screens in Downtown Dubai. Live feeds of the event were telecast around the world in addition to a live Twitter feed and an online real-time feed at www.mydubainewyear.com

Dubai Department of Tourism & Commerce Marketing, Roads & Transport Authority, Dubai Police, Dubai Civil Defence and Dubai Health Authority, among other governmental entities, supported the event.

AS EMAAR READIES TO WELCOME HUNDREDS OF THOUSANDS OF VISITORS TO DOWNTOWN DUBAI FOR THE ‘LIGHT UP 2018’ SPECTACLE, PEOPLE AROUND THE WORLD HAVE THE OPPORTUNITY TO WATCH THE SPECTACULAR SHOW – A GUINNESS WORLD RECORD TITLE ATTEMPT – ON THEIR HOME-SCREENS OR ON THE GO.
While live feeds of the event will be telecast by television channels around the world, there will also be live Twitter feed that will enable a global audience to catch up with all the action in real time on their mobile devices. The experience can also be watched online at www.mydubainewyear.com

More than 300 experts, including over 100 rope access professionals, are on site with five months of preparation going into the design and installation of the diverse aspects of the ‘Light Up 2018’ spectacle. Together the team would have travelled more than 1 million kilometres to arrive in Dubai for the preparations.

With over 7.7 km of power cabling undertaken, and over 25.3 km of rope used for rigging the various elements that go into the display, remarkable effort has gone in to make the celebration to be on a scale never-before witnessed.

‘Light Up 2018’ Downtown Dubai promises a dazzling experience that integrates music, visuals and the performance of The Dubai Fountain in a brilliantly choreographed show. As part of the preparation, several milestones have been reached by Emaar including the installation of the highest searchlight, while the entire length of network and signal cabling that traverses Downtown Dubai is more than 21 km.

Adding to the pride of the country, the entire show is choreographed to music by the UAE’s Dhabiwood Studios. More than 80 musicians from the UAE have come together for the musical composition that was recorded in studios in Dubai and Cairo.

Emaar has been working with the government authorities to ensure the seamless conduct of the event that celebrates the UAE’s achievements and pays tribute to the founding father of the nation, the late Sheikh Zayed bin Sultan Al Nahyan, to mark the ‘Year of Zayed’ in 2018.

‘Light Up 2018’ celebrations will kick off at 5pm starting with The Dubai Fountain shows and live deejay, and continue till 1am. The public are urged to be at the venue before 6pm. The event will be broadcast live on televisions globally and beamed on big screens in Downtown Dubai. The experience can be watched online at www.mydubainewyear.com

The event can be followed live on Twitter at live.twitter.com/MyDubaiNewYear and on @MyDowntownDubai. Join the conversation with the hashtag #MyDubaiNewYear that will unlock a customised Dubai-inspired emoji.

The live stream will also be accompanied by a Twitter timeline, featuring the New Year’s Eve related real-time conversation. Emaar will also have a Twitter Direct Message (DM) experience to assist viewers throughout their New Year’s Eve celebration. Once people send a DM via Twitter to @MyDowntownDubai, they will be directed to a series of automated steps to easily learn more about what’s happening around the festivities.

What: ‘Light Up 2018’ Downtown Dubai

When: December 31, 2017

Where: Downtown Dubai

The ‘Light Up 2018’ spectacle in Downtown Dubai to usher in the New Year is set to be an official Guinness World Records title attempt that will add to the UAE’s pride.

With preparations fully afoot for an innovative show with layers of surprises, Emaar’s bid for the Guinness World Records will be in the celebrations category, with specific details to be revealed in due course.

The ‘Light Up 2018’ spectacle will celebrate the UAE’s achievements and also pay tribute to the founding father of the nation, the late Sheikh Zayed bin Sultan Al Nahyan, to mark the ‘Year of Zayed’ in 2018. The festivities will span Downtown Dubai with Burj Khalifa, the global icon, taking centerstage with a never-before marvel.

Emaar is working closely with government and private sector entities in organising the event, with special viewing decks being set up for the public in Burj Park, South Ridge and the Mohammed bin Rashid Boulevard. A dedicated viewing platform for 100 people with determination will also be arranged.

The ‘Light Up 2018’ celebrations will kick off at 5pm starting with The Dubai Fountain shows and live deejay, and continue till 1am. The public are urged to be at the venue by 6pm.

The event will be broadcast live on televisions globally and beamed on big screens in Downtown Dubai. The experience can be watched online at www.mydubainewyear.com.

For further details, please visit www.mydubainewyear.com.

What: ‘Light Up 2018’ Downtown Dubai

When: December 31, 2017

Where: Downtown Dubai

A NEVER-BEFORE SPECTACLE AWAITS RESIDENTS AND VISITORS TO THE UAE THIS NEW YEAR’S EVE AS EMAAR PREPARES TO HOST ANOTHER EDITION OF ITS GALA CELEBRATION.

Emaar is celebrating the dawn of the New Year with its all-new ‘Light Up 2018’ spectacle in Downtown Dubai with festivities spanning Burj Khalifa, the global icon, and scintillating water-music performances at The Dubai Fountain.

The whole of Downtown Dubai will come alive to the celebrations that will have several surprises in store this year – unraveled only on New Year’s Eve to delight one and all!

The façade of Downtown Dubai’s iconic buildings will serve as the canvas for the spectacular show that is set to a specially choreographed music. The entire show is coordinated and produced by a team of world-class experts.

Celebrating the pride of the nation and the spirit of positivity that marks Dubai, #MyDubaiNewYear at Downtown Dubai also marks the coming together of several government and private sector entities joining hands with Emaar to deliver an evening of resplendence.

Dubai Department of Tourism & Commerce Marketing, Roads & Transport Authority, Dubai Police, Dubai Civil Defence and Dubai Health Authority, among other governmental entities, are supporting the event to offer a seamless experience for visitors.

Special viewing platforms will be set up across Burj Park, the primary venue of the event, as well as across Downtown Dubai. The public are invited to arrive early by 6pm and to use public transport; Dubai Metro will offer extended operating hours for their convenience.

The event will be broadcast live on televisions globally and beamed on big screens in Downtown Dubai. The experience can be watched online at www.mydubainewyear.com. A Twitter Live Stream can be viewed by following @MyDowntownDubai.

Lighting up the evening sky with #LightUp2018, Emaar is setting the stage for ushering in the New Year with a performance that will dazzle the world and put the global spotlight on the UAE and Dubai. For further details, please visit www.mydubainewyear.com.

• What: ‘Light Up 2018’ Downtown Dubai

• When: December 31, 2017

• Where: Downtown Dubai

Emaar Development PJSC (“Emaar Development” or the “Company”), the UAE build-to-sell (“BTS”) property development business of Emaar Properties PJSC (“Emaar Properties”), today listed its shares on the Dubai Financial Market (“DFM”) following a bell ringing ceremony by Mohamed Alabbar, Chairman of Emaar Development. The Company is now trading under “EMAARDEV”.

The shares of Emaar Development were priced at AED 6.03 per share, within the Company’s initial price range, giving the Company a market capitalisation of approximately AED 24.1 billion (US$6.56 billion) at the time of listing.

Final allocations were approximately 93.8% to qualified investors (the “Qualified Offering”) and 6.2% to inpidual and other investors (the “Retail Offering”).

Mohamed Alabbar, Chairman of Emaar Development, said: “Today is a transformative day for Emaar Development, and marks an important next step in our work of shaping cities of the future. Already a flagship brand and a market leader in Dubai, our successful IPO demonstrates that regional and international investors are excited by our proven business model; specifically, our backlog of AED 41 billion; our high cash flows; and our targeted pidend yield of 8.6% for the next three years, which the Company believes is higher than our competitors, and expected to increase in the future.”

“Additionally, today marks a milestone for the Dubai Financial Market, a maturing financial centre well-positioned to benefit from Dubai’s position as a global investment hub. I would like to express my gratitude to the Securities and Commodities Authority and the Dubai Financial Market for their excellent support and assistance during the IPO process. We are confident that this is just the beginning of a bright future for Emaar Development and our shareholders.”

BofA Merrill Lynch, EFG Hermes UAE Limited, Emirates NBD Capital, First Abu Dhabi Bank and Goldman Sachs International are the Joint Global Coordinators for the offering. Emirates NBD and First Abu Dhabi Bank are the Lead Receiving Banks.

Emaar’s strategic support for the club strengthens the national sports initiative, says Khalifa Saeed SulaimanOur support is aimed at building a highly competitive sports team in line with the aspirations of the leadership and the community, says Mohamed Alabbar
Dubai, UAE; September 25, 2017: Shabab Al-Ahli Dubai Club has signed a strategic partnership agreement with Emaar Properties PJSC marking the company’s sponsorship of the team for the current season. The agreement was signed by HE Khalifa Saeed Sulaiman, Director-General of the Department of Protocol and Hospitality in Dubai, and Mohamed Alabbar, Chairman of Emaar Properties, in the presence of senior representatives of both entities, at Emaar headquarters.

HE Khalifa Saeed Sulaiman thanked Emaar for its strategic partnership and its support to strengthening the sport in the UAE. He added that the sport will see significant strategic changes following the announcement by His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President & Prime Minister and Ruler of Dubai, merging Al-Ahli, Al Shabab and Dubai Clubs as one entity named Shahab Al-Ahli Club.

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, is the Chairman of the new club, with His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, as the First Vice Chairman; and His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of the Mohammed bin Rashid Al Maktoum Knowledge Foundation, as the Second Vice Chairman.

HE Khalifa said that the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum is to strengthen the sport, build the team’s skills further, and provide more opportunities for Emirati football to achieve significant accomplishments regionally and internationally at high-level tournaments.

Alabbar said that Emaar’s support underlines its corporate social responsibility to partner in initiatives that add to the pride of the nation. “The private sector has a key role in supporting the sport in the UAE and in empowering the team to compete globally, thereby meeting the aspirations of our leadership and the community.”

He added that the UAE has a wealth of young football talent, and the strategic partnership with the Club is part of Emaar’s strategy to strengthen its role in promoting the sport. “Shabab Al-Ahli Dubai Club brings the combined strength of three Clubs. This integration marks the right direction in the growth of football in the UAE, and will enable the team to achieve remarkable success at various regional and international tournaments.”

Developed by Meraas, 20 million sq ft ‘Dubai Harbour’ features the iconic Dubai Lighthouse, cruise port & MENA’s largest marinaEmaar to develop 10 million sq ft of residences and an Address hotel project in Dubai Harbour, between Palm Jumeirah and JBRLocated between Palm Jumeirah and JBR, Dubai Harbour will integrate Sky Dive Dubai, Dubai International Marine Club and Logo Island in one spectacular tourist destination
Emaar Properties today announced that it will develop about 10 million sq ft of waterfront residences and a brand-new hotel project at Dubai Harbour, the 20 million sq ft destination developed by Meraas. Dubai Harbour was launched earlier this year by His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai.

Emaar’s residences and hotel development will have a spectacular waterfront location in Dubai Harbour, between the Jumeirah Beach Residences and The Palm Jumeirah. Drawing on its proven strength in developing and handing over high quality residential and hospitality projects, Emaar will focus on building a series of elegantly designed high-rise residential apartments overlooking the Arabian Gulf.

Emaar’s hospitality project will be operated by its Address Hotels + Resorts and will include branded residences. It will add value to destination through an extensive array of luxurious amenities, restaurants, as well as wellness and leisure facilities set in a breathtaking location.

Emaar’s new residential project will bring incredible value for residents as they become part of one of the region’s vibrant destinations that features the upcoming Dubai Lighthouse, a modern cruise port with two terminals and the Middle East and North Africa region’s largest marina. The residential neighbourhood developed by Emaar will be part of an integrated tourist destination, with the masterplan set to integrate Sky pe Dubai, Dubai International Marine Club and Logo Island under Dubai Harbour.

His Excellency Abdulla Al Habbai, Group Chairman of Meraas, said: “Meraas is committed to bringing innovative destinations and experiences to life that are aligned with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, and the strategic objectives outlined in Dubai Tourism Vision 2020 and Dubai Plan 2021. Developments such as Dubai Harbour are central to our efforts to define Dubai as a preferred place to live, work and visit and include several unique features that will create incremental value for the local economy and drive growth in the maritime tourism sector. We are confident that our collaboration with Emaar will reinforce our mission of creating a world-class destination that appeals to people around the globe.”

Mohamed Alabbar, Chairman of Emaar Properties, said: “Developing our share of land in Dubai Harbour, an iconic luxury waterfront destination, to create world-class residences and hospitality projects will add to our portfolio of prime developments in spectacular locations in Dubai. With its array of maritime-oriented lifestyle and leisure attractions, Dubai Harbour will be one of the vibrant leisure and tourism hubs of the city. It adds to the track-record of Meraas in delivering unique destinations. Adding to Emaar’s Dubai Real Estate Development business, the residences and hotel project in Dubai Harbour will create significant long-term value for our shareholders. Emaar’s new development will also complement the vision of HH Sheikh Mohammed bin Rashid Al Maktoum in establishing Dubai as a global tourism and lifestyle hub.”

Emaar’s plots of land on Dubai Harbour are ideally situated to develop a stylish community with the homes as well as the hotel project offering direct beachfront access. Residents and guests step out to a relaxing ambience by the beach in addition to a range of marina pursuits in easy proximity.

Emaar’s hotel project will stand out for the exceptional service standards offered by Address Hotels + Resorts, the flagship brand of Emaar Hospitality Group. Positioning its messaging as ‘Where life happens’, Address Hotels + Resorts offers a more personal and engaging experience to guests in a premium lifestyle environment, enriching the lives of its guests with luxury, style and elegance.

Dubai Harbour will feature an advanced multi-modal transport infrastructure comprising an excellent road network in addition to air and sea connectivity. There will also be a futuristic public transport system, water stations, pedestrian bridge, jogging and cycling tracks.

The upcoming Dubai Lighthouse will add further economic value to the neighbourhood in addition to creating a new skyline. An architectural icon, the 135-metre-high Dubai Lighthouse will have an observation deck offering 360 degree views of Palm Jumeirah and Bluewaters, home of Ain Dubai, the worlds’ tallest and largest observation wheel.

Among other features of Dubai Harbour, developed by Meraas and that make Emaar’s residential projects attractive to investors, are the 1,100-berth marina that accommodates small, medium and superyachts, a cruise ship port and two terminals that can welcome around 1.2 million passengers annually, a shopping mall of 875,000 sq ft, an events arena, and innovative food and beverage concepts.

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• Sky Walk is a 30-metre-long cantilever structure with 45 metres of walking distance opening to spectacular views of Burj Khalifa and The Dubai Fountain

• Adventure seekers can take in the spectacular views from 200 metres high as they navigate Sky Walk in safety harnesses

• Half-oval shaped structure is fabricated using 350 tonnes of structural steel; raised using strand jacking technology by a global team of experts

Emaar Properties today announced the launch of an exhilarating tourist attraction that will especially appeal to adventure lover with the new Sky Walk, a 200-metre high cantilever observation corridor in the Address Sky View development in Downtown Dubai. Sky Walk offers the unique experience of taking in spectacular views from a height of 200 metres as the visitors navigate the observation corridor in safety harnesses, walking literally ‘outside the building.’

Sky Walk joins the league of Emaar’s other iconic attractions such as At the Top, Burj Khalifa SKY. It opens to the entire expanse of Downtown Dubai including its famed attractions such as Burj Khalifa and The Dubai Fountain. The views expand further afield to the upcoming new icon Dubai Creek Tower and of the Arabian Gulf. At level 53 of Address Sky View, and suspended at the imposing height of 200 metres, Sky Walk is another first-of-its-kind in Downtown Dubai.

Address Sky View, a residential and hospitality project, also features the iconic 85-metre-long Sky Bridge, at 220 metres high, featuring eight units of luxurious Sky Collection Duplexes, a 70-metre-long infinity pool and other amenities.

A global team of over 300 engineering, construction and design experts worked on the project over a period of one year to achieve a new milestone as the Sky Walk, weighing over 350 tonnes of structural steel, has been lifted to position using customised strand jacking technology.

The 30-metre long cantilever Sky Walk, fixed to the structure of one of the two Address Sky View towers, is a half-oval structure offering 45 metres of walking distance. To ensure maximum comfort level of visitors, high-tech tuned damping parts are being fixed underneath the Sky Walk.

Mohamed Alabbar, Chairman of Emaar Properties, said: “Address Sky View is one of the prestigious upcoming developments in Downtown Dubai that not only features a world-class hotel and serviced residence but also the iconic Sky Bridge and now a new Sky Walk. Appealing to adventure seekers, Sky Walk will add to the touristic appeal of the city and offer visitors a never-before experience. Lifting the Sky Walk in place is a true engineering feat accomplished seamlessly by a team of experts from across the world. Sky Walk is another demonstration of the global collaboration that our nation promotes.”

The international team working on the project had to address several design challenges for Sky Walk from the use of extensive loads of steel to the ambient temperature difference. They introduced several innovative approaches for the on-schedule progress of Sky Walk construction.

Among the engineering features, a 4-metre high steel girder was designed to hold the huge load of the Sky Walk that will be transferred to the core walls of the Address Sky View tower. The main body was assembled and erected in situ using high-capacity cranes that are not commonly used in the region.

The Sky Walk Steel Structure was divided into two main pieces, the girder with a total weight of almost 250 tonnes, and the Sky Walk with a total weight of almost 350 tonnes. Special high-capacity hydraulic jacks were imported from Switzerland to lift the two main steel pieces.

Each element was assembled on the ground over a period of three months from May to August 2017 and lifted into position using Strand Jacking Technology. The Sky Walk truss, the heaviest component, was lifted to the height of 200 meters using high-capacity hydraulic jacks and cables.

The lifting of Sky Walk was accomplished through detailed planning, team work and the use of advanced technology. It had to take into consideration high wind speeds and the high ambient temperature during summer. Each element was lifted and erected following the highest standards of safety and security

Linked directly to The Dubai Mall Metro station through a travellator, the 60-floor Address Sky View towers are 260 meters high, and offers spectacular views of Downtown Dubai and the city. It is designed by Skidmore, Owings and Merrill, the architects of Burj Khalifa, and will feature 169 luxurious hotel rooms on 12 levels with amenities including restaurants, lounges, a world-class event venue, meeting rooms, three pools including a rooftop pool and a spa. Address Residences Sky View will have 551 serviced residences that are fully furnished with floor-to-ceiling windows.

Address Sky View hotel and Address Residences Sky View are operated by Address Hotels + Resorts, the premium luxury hotel and serviced residences brand under Emaar Hospitality Group, a subsidiary of Emaar Properties.

For more details on Address Sky View, log on to:www.emaar.com

Set directly at the periphery of the Central Park, 17 Icon Bay homes offers direct views of Burj Khalifa, Dubai Creek Tower and the Ras Al Khor Wildlife Sanctuary6 sq km Dubai Creek Harbour is only 10 minutes from Dubai International Airport; Sale of 17 Icon Bay homes to commence on August 29
Dubai, UAE; August 29, 2017: Emaar Properties brings an elegant new residential choice, defined by its picturesque setting in the heart of the Island District of Dubai Creek Harbour, the 6 sq km mega-development only 10 minutes from the Dubai International Airport.

A 43-storey sleek residential tower, 17 Icon Bay, the new project to be launched for sale on August 29, 2017, stands out for the direct views it offers of Burj Khalifa, the global icon; Dubai Creek Tower and the Ras Al Khor Wildlife Sanctuary, protected by the UNESCO Ramsar Convention and home to over 67 species of water birds.

The serene setting of the 17 Icon Bay homes is complemented by a focus on wellness and living in harmony with nature through family-oriented spaces including walking trails by a dense grove of trees, children’s play areas, a swimming pool, landscaped leisure deck, multi-function room and modern fitness facilities.

With about 300 apartments featuring 1, 2 and 3 bedrooms, 17 Icon Bay is strategically located by the tip of the Central Park neighbourhood, and offers effortless access to a wide range of retail, F&B and leisure that are set along a 4.5 km-long Creek Boardwalk. It is also in close proximity to event spaces, galleries, parks, water attractions and a trendy Vida hotel in Dubai Creek Harbour. Furthermore, 17 Icon Bay is located within walking distance from Dubai Creek Tower, the new icon that will feature the world’s highest observation decks.

Ahmad Al Matrooshi, Managing Director of Emaar Properties, said: “Dubai Creek Harbour is one of the most sought-after residential destinations in the city, its value underpinned further by the Dubai Creek Tower, the new global icon, and a dedicated retail district. 17 Icon Bay, our newest residential project, offers three distinctive advantages – its central location on the Island District, spectacular views of the Dubai skyline, the iconic Dubai Creek Tower, the historic creek and the Ras Al Khor Wildlife Sanctuary, and ease of access to a wide range of wellness and leisure amenities. The homes will offer a serene getaway right in the heart of the city.”

17 Icon Bay has an elegant architecture with vertical elements that accentuate the height of the tower, The interior spaces are thoughtfully designed to ensure the utmost comfort of residents and to maximise the views.

A podium space on the first floor provides communal and active areas interconnected with the residential tower. It includes dedicated zones for a variety of leisure activities that ensure the privacy and comfort of the residents. Ample vegetation is incorporated within the podium landscape to encourage all-day usage of the space, and offer shaded areas.

The sale of 17 Icon Bay residences in Dubai Creek Harbour, developed as a joint venture with Dubai Holding, will commence on August 29, 2017. Customers can visit the Dubai Creek Harbour Sales Pavilion in Ras Al Khor, Emaar Sales Centre at Downtown Dubai, the Dubai Hills Estate Sales Centre on Umm Suqeim Road and the Emaar Sales Centre in Abu Dhabi at the Al Nahda Tower on 4th Street, Corniche.

For more information, call 800 36227(UAE) or +9714 3661688 (International); or email: Sales_Enquiry@emaar.ae. Also, visit the online sales centre at www.emaar.com

Emaar offers long-term investors and end-users the opportunity to register for the Emaar Preferred Access programme, at www.emaar.com. More information on the project is also available through the new ‘Online Sales Centre’ feature on Emaar’s e-Services App that can be downloaded on iPads and iPhones.