Category: Investor Relation

Dubai, United Arab Emirates – 22 April 2022: Emaar Development PJSC (DFM: EMAARDEV) held its Annual General Meeting (AGM) yesterday, 21 April 2022. Its Board of Directors reflected on the company’s 2021 robust performance and resilience during a time of great economic recovery from disruption caused by the Covid-19 pandemic.

The Board of Directors also expressed their commitment to delivering high-quality homes and communities to its customers and residents while ensuring that all future projects are completed within its stated time frames.

During the Annual General Meeting, the report by the Board of Directors on the activities and financial position of the company, and the Auditor’s report were also approved.

Emaar Development PJSC reported property sales of AED 27.440 billion (US$ 7.471 billion), an increase of 335% compared to 2020, with a net profit of AED 3.244 billion (US$ 883 million) which reflects a 96% growth compared to 2020. Emaar Development continues to maintain a healthy sales backlog of AED 28.616 billion (US$ 7.791 billion) which will be recognized as revenue in the coming years.

Emaar Development has delivered over 4,700 residential units in 2021 across prime locations, including Dubai Hills Estate, Dubai Creek Harbour, Downtown Dubai,  Emaar South and Emaar Beachfront.

Emaar Development is expected to deliver around 8,500 units in 2022 and over 24,500 residential units are currently under construction across various masterplans mainly in Downtown Dubai, Dubai Hills Estate, Dubai Creek Harbour, Emaar South, Emaar Beachfront etc.

Recognising Emaar Development’s record-breaking performance in the last fiscal year, Mohamed Alabbar, Founder, Emaar Properties, said: “Emaar Development is extremely proud to be the industry leader in development and construction and we remain committed to delivering our highly anticipated upcoming projects within the stated timeframes. Our success and year on year profit is due to the diligence of our shareholders, management and highly skilled staff and we look forward to continuous growth and success through digital innovation and the adoption of future-forward concepts.”

–Ends–

Note to Editors:

About Emaar Development PJSC:

Emaar Development is the leading developer of residential and commercial build-to-sell (BTS) assets in the UAE. The company is behind iconic freehold master-planned communities in Dubai including Emirates Living, Downtown Dubai, Dubai Marina and Arabian Ranches, and has delivered over 52,000 residential units since 2002. The company has a sales backlog of over AED 28.616 billion, and is a high cash flow generating business, highlighting the robust fundamentals of the company, with over 24,500 residential units under development to be delivered. For more information, please visit

https://properties.emaar.com/en/investor-relations/

For more information:
JES Media
emaar@jesmedia.ae
00971 (0) 4 567 6717

Dubai, United Arab Emirates; 21 April 2022: Emaar Properties PJSC (DFM: EMAAR) held its Annual General Meeting (AGM) yesterday, April 20, where its Board of Directors announced the company’s solid performance in 2021 and discussed the stringent measures it took to safeguard continued robust business performance during the year.

The dividend distribution proposal from the Board of Directors representing 15 per cent of the share capital was approved at the AGM, confirming Emaar’s keenness to ensure added value for its shareholders. During the meeting, the Board of Directors’ 2021 report on the company’s activities and financial position and the Auditor’s report were also approved.

Emaar continuously strives to maximize shareholders value through providing the best customer service and by safeguarding innovation across all products and services provided by the company. This led to the company achieving real estate sales of AED 33.762 billion (US$ 9.192 billion) in 2021, which is highest on record and is a testament to the clients’ trust in the Emaar brand. Additionally, Emaar reports substantial sales backlog totaling more than AED 46.057 billion (US$ 12.539 billion), which will be recognized as revenue over the next few years.

Emaar continues to work diligently to complete all ongoing projects for delivery within the timeframes specified and the company will retain its extremely strong position through strategic investment in its highly qualified talent, digital systems and additional resources which will safeguard all process efficiencies and align the company with its future vision.

Mohamed Alabbar, Founder of Emaar Properties, said: “The Group is optimistic for the year 2022 and is constantly focused on achieving operational excellence, increasing return on investments and enhancing customer satisfaction. To improve its performance, the company will increase its resources, increase its efficiency, and maximize its productivity. The foundations for future growth and long-term shareholder value will be laid by digital transformation, new product innovation, and market penetration.”

Emaar Properties PJSC recorded an EBITDA of AED 9.343 billion (US$ 2.544 billion) and total revenue of AED 28.270 billion (US$ 7.697 billion) for the fiscal year ended December 31, 2021. The performance reflects sustained interest from investors, both domestic and foreign with both local and international sales exceeding pre-pandemic levels.

Setting new benchmarks in design, build quality, and innovation, Emaar consistently offers premium experiences and lifestyle opportunities across market segments; and its properties continue to remain sought-after by investors at home as well as abroad.

Visit emaar.com/en/investor-relations for more information.

–Ends–

Note to Editors:

About Emaar Properties

Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer and provider of premium lifestyles, with a significant presence in the Middle East, North Africa and Asia. One of the world’s largest real estate companies, Emaar has a land bank of 1.7 billion sq. ft. in the UAE and key international markets.

With a proven track-record in delivery, Emaar has delivered over 81,600 residential units in Dubai and other key global markets since 2002. Emaar has strong recurring revenue-generating assets with over 1,130,000 square meters of leasing revenue-generating assets and 32 hotels and resorts with 7,142 rooms (includes owned as well as managed hotels). Today, 45 per cent of the Emaar’s total revenue is from its shopping malls & retail, hospitality & leisure and international subsidiaries.

Burj Khalifa, a global icon, and The Dubai Mall, the world’s most-visited retail and lifestyle destination, are among Emaar’s trophy destinations.

Follow Emaar on: Facebook: www.facebook.com/emaardubai, Twitter: www.twitter.com/emaardubai, Instagram: www.instagram.com/emaardubai.

For more information:
JES Media
emaar@jesmedia.ae
00971 (0) 4 576 6717

Dubai, UAE, 24 December 2019: Emaar, the master developer of Burj Khalifa, will once again showcase the Emirate of Dubai and Downtown Dubai as a global hub.

Following the continued demand for the acclaimed show, Emaar has confirmed plans to once again host the world-renowned New Year’s Eve show with a firework display on the world’s tallest building.

As the clock strikes midnight ushering in a new decade. Emaar will continue its tradition of putting on a captivating choreographed show, incorporating fireworks, animation on Burj Khalifa LED Facade, music composition and a fountain show.

The Dubai Fountains at the foot of Burj Khalifa, will be showcasing the world’s longest choreographed fountain show ever. Making the surrounding areas of the Burj Khalifa and Downtown Dubai the place to be on the evening of the 31st December.

People across the city can head to either of the family viewing areas in Downtown Dubai to witness the iconic show, which is expected to attract hundreds of thousands of people and is viewed live by millions on television and online across the globe. Dozens of pop-up food and beverage stalls will be available for visitors to enjoy during their time counting down to NYE20.

Burj Khalifa will join a host of global landmarks in decorating the sky with colour to mark the dawn of a new decade. mydubainewyear.com.

mydubainewyear.com

Dubai, 5th November 2019 – Emaar, is pleased to announce the results of The Landmark Design Competition launched in May 2019.

The brief was to encourage architects to challenge their imagination process and come up with innovative and unique concepts to develop another iconic piece of architecture at the new world-class waterfront development in Dubai Creek Harbour.

Known for its incredible architectural feats, Emaar’s vision for Dubai Creek Harbour is to design an urban city that respects the culture and climate of Dubai, but also exposes children and families to new worldviews with various recreational activities creating a community feeling.

With more than 100 proposals received, Emaar has announced Of. Studio, a UK based architectural firm as the winner of the competition. Their theme, “garden in the coast” presented real architectural solutions, that enhances the experience of city life for people – to live, work and interact capitalizing on latest technologies; while also keeping in mind the culture and local values of the UAE.

With this competition, Emaar’s goal was to inspire the new generation to shape their imagination into a vision that provides new worldviews. The judging panel were impressed by entries proposing creative, innovative and iconic solutions respecting the urban context and further enhancing Dubai’s profile as a city with amazing building and structures.

The concept design submitted by Fabrica Architects won the second runner-up which will be developed by Emaar in Egypt, and the design submitted by the third runner-up, Ragaie Architects will be built in Mina Rashid.

The other shortlisted designs by various architects include Nurhayat Öz, Adnan Ihsan, TO Design, Tekuma Frenchman, A.Nouraldeen & L. Fraccalvieri, Melike Altinisik Architects and R. Sudheer & Ravichandar.

About Emaar Properties PJSC:

Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer and provider of premium lifestyles, with a significant presence in the Middle East, North Africa and Asia. One of the world’s largest real estate companies, Emaar has a land bank of 1.6 billion sq. ft in the UAE and key international markets.

With a proven track-record in delivery, Emaar has delivered over 56,000 residential units in Dubai and other global markets since 2002. Emaar has strong recurring revenue generating assets with over 880,000 square metres of leasing revenue generating assets and 21 hotels and resorts with 4,679 rooms (includes owned as well as managed hotels). Today, 46 per cent of the Emaar’s revenue is from its shopping malls & retail, hospitality & leisure and international subsidiaries.

Burj Khalifa, a global icon, and The Dubai Mall, the world’s most visited retail and lifestyle destination, are among Emaar’s trophy developments. Emaar has now announced, Dubai Creek Tower, a magnificent icon that will serve as the centrepiece of the Dubai Creek Harbour development, as well as Dubai Square, the retail metropolis of the future. For more information, please visit our website www.emaar.com

Follow us: www.facebook.com/emaardubai; www.twitter.com/emaardubai; www.instagram.com/emaardubai

  • Spectacularly located on the Creek Beach with direct access to the beach, Vida Residences Creek Beach is adjacent to the Vida Creek Beach Hotel
  • The first high-rise building in Creek Beach District, the 33-storey tower offers elegantly designed beachside residences and a limited collection of 1, 2 and 3-bedroom apartments with breathtaking views of Burj Khalifa, Ras Al Khor Wildlife Sanctuary, and Creek Island
  • Sales of Vida Residences Creek Beach launched on December 5, 2019

 

Dubai, UAE – December 11 2019: The ultimate waterfront lifestyle awaits at Vida Residences Creek Beach with new residential apartments offering breathtaking views of the city now available for purchase.  Announced as the last property launch in the community, the new residential apartments are located on Creek Beach and within the Dubai Creek Harbour. The award-winning 33-storey tower brings a new dimension to city-living, seamlessly blending the best waterfront experience with mainland convenience.

Bright and sophisticated, Vida Residences Creek Beach has a luxurious collection of 1, 2 and 3-bedroom apartments offering spectacular views of the Dubai Creek Harbour Observation Tower, Burj Khalifa, Creek Island and canal as well as the Ras Al Khor Wildlife Sanctuary. The developer is offering investors the freedom to choose the perfect scenic view for them.

Vida Residences Creek Beach apartments are elegantly designed with architecture inspired by the Moorish style of Alhambra, Seville and Cordoba, with light, air and water undertones culminating in the residence’s picturesque identity. The understated luxury of the interiors serves as a tribute to the beauty of its waterfront setting.

The apartments also make for the perfect vacation residence, providing direct access to dining experiences, shopping outlets, and a luxury spa at the adjacent Vida Creek Beach Hotel. Residents can also enjoy a plethora of amenities such as 24×7 concierge service, a fully equipped gym, private courtyards and barbecue areas, whilst benefitting from exclusive hotel rates. Residents also have exclusive access to a 300-metre private beach as well as the Creek Marina, a city-harbour getaway with a world-class yacht club and other amenities, offering residents both urban and beach experiences.

To purchase your dream home, visit Dubai Creek Harbour Sales Centre in Ras Al Khor; Emaar Sales Centre in Downtown Dubai; Dubai Hills Estate Sales Pavilion located on Umm Suqeim Road; Emaar South Sales Centre on the DWC Peripheral Road in Dubai South; and the Abu Dhabi Sales Centre on the ground floor of Al Nahda Tower on 4th Street, Al Muroor Road. The sales centres are open from Sat. to Thurs., 9.30am to 7pm, and on Fri. from 2pm to 7pm in all locations except the Abu Dhabi Sales Centre. Alternatively, call 800 36227 (UAE) or +9714 3661688 (International); or email: sales_enquiry@emaar.ae.

 

About Emaar Properties PJSC:

Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer and provider of premium lifestyles, with a significant presence in the Middle East, North Africa and Asia. One of the world’s largest real estate companies, Emaar has a land bank of 1.6 billion sq. ft in the UAE and key international markets.

With a proven track-record in delivery, Emaar has delivered over 56,000 residential units in Dubai and other global markets since 2002. Emaar has strong recurring revenue generating assets with over 880,000 square meters of leasing revenue generating assets and 21 hotels and resorts with 4,679 rooms (includes owned as well as managed hotels). Today, 46 per cent of the Emaar’s revenue is from its shopping malls & retail, hospitality & leisure and international subsidiaries.

Burj Khalifa, a global icon, and The Dubai Mall, the world’s most visited retail and lifestyle destination, are among Emaar’s trophy developments. Emaar has now announced, Dubai Creek Tower, a magnificent icon that will serve as the centerpiece of the Dubai Creek Harbour development, as well as Dubai Square, the retail metropolis of the future. For more information, please visit our website www.emaar.com

Follow us: www.facebook.com/emaardubai; www.twitter.com/emaardubai; www.instagram.com/emaardubai

 

About Dubai Holding:

Dubai Holding is an investment conglomerate with operations in 24 countries employing over 22,000 people. Established in 2004, Dubai Holding today manages an AED 130 billion portfolio of assets, which supports the strong development of Dubai’s non-oil economy across sectors including; tourism, hospitality, real estate, media, ICT, education, design and trade. Its portfolio includes TECOM Group, which manages 11 of Dubai’s most successful business communities; Jumeirah Group, the hospitality arm which owns and operates 22 hotel developments in 11 destinations in 9 countries; Dubai Properties Group, one of the largest fully integrated and community development business in Dubai; Family Entertainment and New Media, which implements a strategic plan to develop new family destinations and further grow digital media business lines.

Dubai Holding’s current project pipeline will add significantly to the Emirate’s portfolio of landmarks. This includes Mall of the World, all-season city district comprising the world’s largest retail network; and Dubai Creek Harbour, a joint venture with Emaar Properties to build a futuristic waterfront city at The Lagoons. Dubai Holding plays an influential role in delivering on Dubai’s economic diversification strategy and initiatives such as Tourism Vision 2020, Dubai Smart City, UAE National Innovation Strategy, Dubai Industrial Strategy and Capital of Islamic Economy.

Dubai, UAE, 18 November 2019: Emaar Properties has announced the launch of The Valley, a new master development on Dubai-Al Ain Road. Running through the heart of this groundbreaking masterplan is a lush green ribbon of breathtaking landscape, connecting residents with never-before-seen vast open spaces and mega-amenities, inspiring the name; The Valley.

Designed for those who desire a balanced lifestyle, the various activity offerings inspire limitless exploration and boundless dreaming at the doorstep of its residents. The master development will feature expertly designed townhouses in addition to world-class amenities nurturing a strong sense of community and family-friendly living, with retail, entertainment, recreational, educational and health facilities.

The Valley offers a compelling investment opportunity for those within the mid-income residential market and will feature all the conveniences of the city allowing families and first-time buyers alike to own a piece of future living.

This development supports the growth of Dubai, extending the map to offer a sanctuary equipped with world class amenities, located just five minutes away from the Sevens Stadium, eight minutes’ drive from Dubai Outlet Mall, and 25 minutes’ drive from both Downtown Dubai and Dubai International Airport. The masterplan is further supported with improvements currently taking place on the Dubai-Al Ain Road, taking it from three to six lanes, as a part of the AED 2 billion upgrade announced in July of this year.

Commenting on the launch, Mohamad Alabbar, Chairman of Emaar said “Redefining the landscape of Dubai is at the core of Emaar’s story; and The Valley encapsulates this next chapter. We are attuned to the future trends of the property market and look forward to building the city’s first-ever self-contained town where the infrastructure fosters social cohesion and authentic interaction, two critical aspects of modern dwelling.”

The first cluster of townhouses at The Valley, named Eden, is due to be ready in Q4, 2022 and will offer 3- and 4-bedroom villas in three architectural styles: Spruce, May Bell and Iris. The property will boast easy access to a series of outdoor parks; with the Town Center, designed to be the weekend destination and central hub for residents with an array of indoor and outdoor retail and entertainment facilities on offer; an Urban Beach called Golden Beach; Kids’ Dale; a Sports Village; The Pavilion and various community facilities for all residents to enjoy and thrive, at the centre of the community.

Potential investors can visit the Emaar Sales Centre at Downtown Dubai, Dubai Creek Harbour Sales Pavilion in Ras Al Khor, and Dubai Hills Estate Sales Centre on Umm Suqeim Road for enquiries.

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

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

About Emaar Properties PJSC:

Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer and provider of premium lifestyles, with a significant presence in the Middle East, North Africa and Asia. One of the world’s largest real estate companies, Emaar has a land bank of 1.6 billion sq. ft in the UAE and key international markets.

With a proven track-record in delivery, Emaar has delivered over 56,000 residential units in Dubai and other global markets since 2002. Emaar has strong recurring revenue generating assets with over 880,000 square meters of leasing revenue generating assets and 21 hotels and resorts with 4,679 rooms (includes owned as well as managed hotels). Today, 46 per cent of the Emaar’s revenue is from its shopping malls & retail, hospitality & leisure and international subsidiaries.

Burj Khalifa, a global icon, and The Dubai Mall, the world’s most visited retail and lifestyle destination, are among Emaar’s trophy developments. Emaar has now announced, Dubai Creek Tower, a magnificent icon that will serve as the centerpiece of the Dubai Creek Harbour development, as well as Dubai Square, the retail metropolis of the future. For more information, please visit our website www.emaar.com

Follow us: www.facebook.com/emaardubai; www.twitter.com/emaardubai; www.instagram.com/emaardubai

  • Recorded strong nine months sales of AED 12.624 billion (US$ 3.437 billion) in Dubai; 25 per cent higher than the first nine months of 2018 
  • The developer recorded net profit of AED 1.331 billion (US$ 362 million), an increase of 20 per cent in the third quarter of 2019 led by resilient performance of the property, malls and hospitality business
  • Emaar’s total sales backlog, including international operations, is AED 49.213 billion (US$ 13.399 billion), to be recognised in the coming three to four years 

 

Dubai, UAE; – November 10,2019: Emaar Properties PJSC (DFM: EMAAR), recorded robust increase in net profit by 20 per cent during the third quarter (July to September) of 2019 to AED 1.331 billion (US$ 362 million), compared to the net profit of AED 1.110 billion (US$ 302 million) during the same period in 2018. Revenue of Emaar also grew by 14 per cent to AED 6.075 billion (US$ 1.654 billion) during third quarter of 2019, compared to revenue of AED 5.348 billion (US$ 1.456 billion) during the same period last year.

Emaar recorded property sales of AED 12.624 billion (US$ 3.437 billion) in Dubai during the first nine months (January to September) of 2019, a growth of 25 per cent compared to same period in 2018.This is the result of Emaar’s continued focus on its customers and quality of construction, which makes us the first choice for investors. This is a testament of why Emaar is ranked as #1 among Real Estate Companies and #20 among all industries in the Forbes World’s best-regarded companies rankings.

The growth is attributed to the continuous interest from foreign investors in both residential and commercial developments as well as new, first-time home buyers entering the UAE property market.

Emaar recorded a revenue of AED 17.644 billion (US$ 4.804 billion) and net profit of AED 4.442 billion (US$ 1.209 billion) in the first nine months of 2019, led by resilient performance of the property, malls and hospitality business.  

Mohamed Alabbar, Chairman of Emaar Properties and Emaar Development, said: “Emaar’s results are driven by its key principles of having the best people working day and night to achieve utmost customer happiness through providing them superior product and services. Also, in these dynamic markets, maintaining superior performance is a key testimony of an excellent team and their continuous efforts to achieve efficiencies, superior product and financial results.”

Emaar Development

Emaar Development PJSC (DFM: EMAARDEV), recorded a net profit of AED 2.070 billion (US$ 564 million) and revenue of AED 9.625 billion (US$ 2.620 billion) for the first nine months of the year.

During the first nine months of 2019, Emaar Development launched 19 new projects across its mega developments in Dubai with a total project value of AED 10.127 billion (US$ 2.757 billion). Highlighting Emaar’s strong brand value, the company has sold over 70 per cent of its units launched in first nine month of 2019.

During 2019, Emaar launched properties in the newly launched master-planned community of Arabian Ranches III, Emaar Beachfront and Dubai Hills Estate, recording a sell-out response and also launched Ease by Emaar, a property management services, helping investors of South Beach at Emaar Beachfront capitalise on an emerging business model of short-term rentals and earn substantial returns.

Emaar Development has also entered into a new joint venture for master-planned development ‘The Valley’, an AED 25 billion (US$ 7 billion) project located on Dubai – Al Ain Road.

 

Emaar Malls and other businesses 

Emaar Malls (DFM: EMAARMALLS) recorded 6 per cent increase in revenue to AED 3.412 billion (US$ 929 million) during the first nine months (January to September) of 2019, compared to same period in 2018. Net profit has also increased by 6 per cent to AED 1.732 billion (US$ 472 million) compared to same period last year.

Emaar Malls assets – The Dubai Mall, Dubai Marina Mall, Gold & Diamond Park, Souq Al Bahar and the Community Retail Centres – maintained strong occupancy level at 92 per cent, and robust visitors arrival at 99 million during the first nine months of this year.

Emaar’s hospitality & leisure, entertainment and commercial leasing business along with Emaar Malls, posted a revenue of AED 5.259 billion (US$ 1.432 billion), representing 30 per cent of the total Group revenue. The hotels under Emaar Hospitality Group (including managed hotels) in Dubai reported an average occupancy of 78 per cent, higher than the industry average.

Emaar’s international property development operations recorded 22 percent increase in revenue to AED 2.673 billion (US$ 728 million) during first nine months of 2019, compared to revenue of AED 2.185 billion (US$ 595 million) during same period in 2018. This now represents 15 per cent to the total Group revenue.

Emaar has a landbank of over 1.7 billion square feet in key markets and is ranked 14th among the world’s strongest real estate companies in 2019, with an estimated brand value of US$ 2.7 billion.

Visit https://www.emaar.com/en/investor-relationsfor more information.

 

-ENDS-

Note to Editors

About Emaar Properties:

Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer and provider of premium lifestyles, with a significant presence in the Middle East, North Africa and Asia. One of the world’s largest real estate companies, Emaar has a land bank of 1.7 billion sq. ft in the UAE and key international markets.

With a proven track-record in delivery, Emaar has delivered over 59,000 residential units in Dubai and other global markets since 2002. Emaar has strong recurring revenue generating assets with over 880,000 square metres of leasing revenue generating assets and 22 hotels and resorts with 4,965 rooms (includes owned as well as managed hotels). Today, 45 per cent of the Emaar’s revenue is from its shopping malls & retail, hospitality & leisure and international subsidiaries.

Burj Khalifa, a global icon, and The Dubai Mall, the world’s most visited retail and lifestyle destination, are among Emaar’s trophy developments. Emaar has now announced, Dubai Creek Tower, a magnificent icon that will serve as the centerpieceof the Dubai Creek Harbour development, as well as Dubai Square, the retail metropolis of the future. For more information, please visit our website www.emaar.com

Follow us: www.facebook.com/emaardubai; www.twitter.com/emaardubai; www.instagram.com/emaardubai

 

For more information:

Sharan Sunner

Seven Media

00971 (0)44 509 790

sharansunner@sevenmedia.ae

      • Net profit for the third quarter of the year (July to September) 2019 is AED 602 million (US$ 164 million), an increase of 12% over the same period last year 
      • Revenue for Q3 2019 increased by 5% to AED 1.185 billion (US$ 323 million) compared to Q3 2018

 

Dubai, UAE; November 03, 2019:Emaar Malls (DFM: EMAARMALLS), the shopping malls and retail business majority-owned by Emaar Properties (DFM: EMAAR), recorded an increase in revenue by 6 per cent during the first nine months (January to September) of 2019 to AED 3.412 billion (US$ 929 million), compared to the revenue of AED 3.232 billion (US$ 880 million) during the same period in 2018. Net profit for the period ending 30thSeptember 2019 is AED 1.732 billion (US$ 472 million), an increase of 6 per cent over the same period in 2018 with a revenue of AED 1.639 billion (US$ 446 million).

Revenue for Q3 2019 recorded an increase of 5 per cent to AED 1.185 billion (US$ 323 million), compared to the Q3 2018 revenue of AED 1.129 billion (US$ 307 million) and net profit for Q3 2019 is AED 602 million (US$ 164 million), a 12 per cent increase over the Q3 2018 net profit of AED 537 million (US$ 146 million).

 

Update on Namshi

Namshi, a wholly owned subsidiary of Emaar Malls has recorded sales of AED 689 million (US$ 188 million) during the first nine months of 2019, an increase of 14 per cent compared to the previous year. 

Reporting on quarter-on-quarter growth, Namshi’s sales for the third quarter (July to September) 2019 was AED 267 million (US$ 73 million), a growth of 20 per cent over the sales of AED 223 million (US$ 61 million) during Q3 2018.

 

Strong occupancy and footfall 

The assets of Emaar Malls – The Dubai Mall, Dubai Marina Mall, Gold & Diamond Park, Souq Al Bahar and the Community Retail Centres – together welcomed 99 million visitors during the first nine months of this year with The Dubai Mall, the world’s most visited retail and lifestyle destination, in specific welcoming 61 million visitors. Occupancy levels across all assets remain exceptionally high at 92 per cent ending Q3 of 2019, indicating a healthy demand in the market for the retail space in the right locations.

 

Mohamed Alabbar, Chairman of Emaar Properties and Board Member of Emaar Malls, said: “Emaar Malls has consistently explored opportunities to deliver an enhanced shopping experience by taking a customer-centric view of the entire consumer journey, which helps us achieve sustained growth – both through our Malls and Namshi, our fully owned online business. As retail disruption endures, we continue to attract retailers that leverage technology to provide an immersive retail experience, meet their customer’s expectations, provide customers with post-purchase services and loyalty-building interactions making our malls as the preferred lifestyle destination of choice.”

 

Upcoming Assets

Continuing its growth strategy, Emaar Malls is set to open Dubai Hills Mall in Dubai Hills Estate in 2020, which offers a GLA of about 2 million sq. ft. and feature about 550 retail and entertainment destinations. Dubai Hills Mall will have four major family entertainment and leisure centres along with a cineplex, hypermarket, seven anchor retail experience stores, and over 7,000 dedicated parking spaces. The company is also redeveloping Meadows Village to increase its GLA by approximately 95,000 sq. ft, and is scheduled for completion in 2020, further enhancing its Community Retail Centres.

Further strengthening its retail infrastructure, Emaar Malls has opened The Dubai Mall Za’abeel extension adding over 3,000 parking spaces. These extensions link The Dubai Mall to the Financial Centre Road and to the Sheikh Mohammed bin Rashid Al Boulevard enhancing the connectivity and convenience for visitors.

 

Note to Editors 

About Emaar Malls:

Emaar Malls’ properties include some of the most iconic malls, entertainment and community integrated retail centres in the Middle East, including The Dubai Mall, its flagship asset, which has been the most visited shopping and entertainment mall worldwide in each of the last four years.

Emaar Malls also owns and manages Souk Al Bahar, an Arabesque style dining and entertainment development in Downtown Dubai; Dubai Marina Mall, a lifestyle shopping mall for residents and visitors of the Dubai Marina community; and Gold & Diamond Park, a shopping destination dedicated to gold and jewellery.

Emaar Malls’ properties are developed as an integral part of the master plan developments of its controlling shareholder, Emaar Properties, and, therefore, are strategically located in key areas of Dubai that benefit from favourable socio-economic demographics and increasing tourism.

 

For more information:

Sharan Sunner

Seven Media

00971 (0)44 509 790

sharansunner@sevenmedia.ae

    • Net profit in third quarter of 2019 (July to September) grew to AED 688 million (US$ 187 million) with revenue reaching to AED 3.388 billion (US$ 922 million)
    • Strong sales backlog of AED 36.098 billion (US$ 9.828 billion), underlining remarkable revenue recognition to be achieved in the coming three to four years 

 

Dubai, UAE – November 14, 2019:

Emaar Development PJSC (DFM: EMAARDEV), the UAE build-to-sell property development business majority-owned by Emaar Properties PJSC (DFM: EMAAR), reported today the financial results for the nine-month ending 30thSeptember 2019. The company has reported an impressive growth of 25% in property sales during first nine months of 2019, reaching to AED 12.525 billion (US$ 3.410 billion) as compared to similar period in 2018.

Delivering quarter on quarter growth in profitability, the company reported net profit of AED 2.070 billion (US$ 564 million) with a revenue of AED 9.625 billion (US$ 2.620 billion) for the first nine months of 2019.

With the company announcing the launch of 19 new residential developments in 2019 with a total project value of AED 10.127 billion (US$ 2.757 billion), the sales backlog stands at AED 36.098 billion (US$ 9.828 billion), underlining strong financial fundamentals and revenue recognition to be accounted in the next three to four years.

 

Mohamed Alabbar, Chairman of Emaar Development and Emaar Properties, said: “Over the years, Emaar Development has launched properties that deliver on the promise of providing unique living experiences and positioning Dubai as a prime global destination for real estate investments. The organisation focuses on customers, the quality of construction, technology, people and strategy for future growth. We aim to offer unique products to today’s home buyers, seeking modern lifestyles with amenities that prioritize health, wellness and a sense of community.”

Emaar Development views 2019 as a year of transformation with the company noticing a strong demand for residences that offer surroundings that ensure residents health and well-being, and the opportunity to live fulfilling lives.

During the quarter, Emaar Development has entered into a new joint venture for master-planned development ‘The Valley’, an AED 25 billion (US$ 7 billion) project located on Dubai – Al Ain Road extending the map of Dubai. The development is designed keeping in mind the modern urban planning and future dwelling trends with world class amenities.

 

Sites developed into iconic destinations

In 2019, Emaar Development launched South Beach, a first-of-its-kind residential premium waterfront holiday home development and Grand Bleu Tower, the first ELIE SAAB designer building in the world at Emaar Beachfront. South Beach is one of the first developments to be fully listed on Ease by Emaar, the property management service by Emaar offering investors an opportunity to fill the market gap for short-term rentals and help them capitalise on an emerging business modeland gain potential high returns on investment.

The company also marked the launch of several exceptional residential destinations in Dubai this year, including, Sun,Joy  and Spring in Arabian Ranches III – a premium gated community; Bay Shore, Palace, Summer, Creek Edge and Surf in Dubai Creek Harbour, the six square kilometer mega-development, described as ‘The World of Tomorrow’; Executive Residences, Golf Grove, Golfville and  Emerald Hillsin Dubai Hills Estate; Expo Golf Villas – Parkside and Greenview in Emaar South, a pioneering project by Emaar located only 10 minutes from the Expo 2020 Dubai site and seven minutes from the Al Maktoum International Airport, recording sell-out investor response; Sirdhana at Mina Rashid, the world’s new sailing destination set by the historic Dubai Creek near Bur Dubai/Deira.

Emaar development has handed over approximately 4,700 residential units so far in 2019 at prime locations such as Dubai Hills Estate, Emaar South, Dubai Creek Harbour and Downtown Dubai.

Emaar has an international investor base of over 200 nationalities and is ranked 14thamong the world’s strongest real estate companies in 2019, with an estimated brand value of US$ 2.7 billion.

Dubai, UAE; October 20th, 2019: Emaar, today officially announced the opening of ‘The Dubai Stars’, a walkable, star-studded attraction in Downtown Dubai. The stellar walkway hosting stars was unveiled at a press conference attended by some of the celebrities awarded with a Dubai Star in the first phase of the launch.

The milestone event was graced by the presence of celebrities and influencers from across the globe including the painter, photographer and sculptor Mattar Bin Lahej; former Al-Hilal footballer Yasser Saeed Al-Qahtani; comedian, actor, film producer, television presenter, and a renowned television personality Ahmed Helmy; film actress Sonam Kapoor Ahuja; singer Balqees Fathi; playback singer, music composer and actor Muhammad Atif Aslam; actress Mona Zaki; and internet star Khalid Al Ameri.

Shymaa Binbrek, General Manager, Downtown Dubai, said, “In a city that has embraced the idea of multiculturalism, we take pride in implementing an initiative that will resonate with the local expatriate population and tourists visiting the emirate. The Dubai Stars, surrounded by landmark attractions such as Burj Khalifa, The Dubai Mall and Dubai Opera, is touted to become one of the most-visited destinations in Dubai.”

Upon completion, the stars embedded sidewalk will celebrate 10,000 famous personalities from the worlds of music, film, art, architecture, sports and literature.

About Emaar Properties PJSC:

Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer and provider of premium lifestyles, with a significant presence in the Middle East, North Africa and Asia. One of the world’s largest real estate companies, Emaar has a land bank of 1.6 billion sq. ft in the UAE and key international markets.

With a proven track-record in delivery, Emaar has delivered over 56,000 residential units in Dubai and other global markets since 2002. Emaar has strong recurring revenue generating assets with over 880,000 square metres of leasing revenue generating assets and 21 hotels and resorts with 4,679 rooms (includes owned as well as managed hotels). Today, 46 per cent of the Emaar’s revenue is from its shopping malls & retail, hospitality & leisure and international subsidiaries.

Burj Khalifa, a global icon, and The Dubai Mall, the world’s most visited retail and lifestyle destination, are among Emaar’s trophy developments. Emaar has now announced, Dubai Creek Tower, a magnificent icon that will serve as the centrepiece of the Dubai Creek Harbour development, as well as Dubai Square, the retail metropolis of the future. For more information, please visit our website www.emaar.com

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