Category: Investor Relation

  • Phase I and Phase II of Expo Golf Villas recorded overwhelming customer response driven by the competitive price point, superb location and excellent build standards of Emaar
  • Phase III has a limited collection of 3 and 4-bedroom premium villas, priced from just AED 999,888 and offered with an easy five-year payment plan
  • Expo Golf Villas are only 7 minutes from the Al Maktoum International Airport, 10 minutes to the Expo 2020 Dubai site and located next to an 18-hole championship golf course

 

Dubai, UAE; February 11, 2019: Customers have another opportunity to buy the most sought-after villas in Dubai in Emaar South, the green golf course mega-development located only 10 minutes from the Expo 2020 Dubai site and seven minutes from the Al Maktoum International Airport.

Following the sell-out response to the launch of its first two phases, Emaar has now unveiled Phase III of Expo Golf Villas, a limited collection of three and four-bedroom premium villas located right next to an 18-hole championship golf course.

Now among the most in-demand villas in the city, the Expo Golf Villas Phase III assure strong return on investment and long-term value appreciation, with research by KPMG and the American National Association of Realtors proving that golf courses have historically boosted the value of nearby properties by as much as 20 per cent.

The Expo Golf Villas Phase III are competitive with prices starting form AED 999,888 and customers having the convenient payment plan, with the monthly installments to be paid over an extended duration of five years.

Residents of Expo Golf Villas will become part of a thriving residential community with Emaar set to hand over the first homes in Emaar South this year. The homes are ideally suited for professionals working in the various business hubs in Dubai South including the Aviation District, Logistics District, Business Park, Exhibition District and Humanitarian District. Only 30 minutes from Jebel Ali Free Zone and 50 minutes from Abu Dhabi, the villas will also serve the requirements of entrepreneurs and professionals who prefer a serene lifestyle in a green setting.

Nestled alongside the Main Boulevard of Emaar South, Expo Golf Villa residents will have access to several amenities including a fully equipped gym, an outdoor swimming pool, kids’ playing area, a community centre and an array of parks and walkways that promote a healthy and active lifestyle.

At 110 to 140 sqm in size, every villa is finished in a muted neutral palette to match the interior design choice of the customer. With an abundance of natural sunlight, the bright and airy homes are ideal to create those perfect family moments.

For more details on Phase III of Expo Golf Villas, visit the Emaar South Sales Centre on the DWC Peripheral Road in Dubai South; Emaar Sales Centres in Downtown Dubai; Dubai Creek Harbour Sales Centre in Ras Al Khor; Dubai Hills Estate Sales Pavilion located on Umm Suqeim Road; 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.

For more information:

Kelly Home | Nivine William

ASDA’A BCW

+9714 4507 600

kelly.home@bcw-global.com | nivine.william@bcw-global.com

Dubai, UAE; January 24, 2019: Dubai Hills Estate is offering customers of its new Executive Residences the opportunity to obtain a complimentary 3-year renewable business licence and renewable residency visa, when they pay only 15 per cent of the apartment price, through its partnership with DMCC (Dubai Multi Commodities Centre).

Taking the home-office concept to the next level, this unique opportunity allows entrepreneurs and ‘remote workers’ to obtain a business licence from DMCC, the world’s leading free zone, and operate their business from the comfort of their own home at Executive Residences. With the rise of freelancers, flexible working schedules, as well as the growing importance of the start-up ecosystem in the UAE, this ownership scheme has now become more sought after than ever. Investors will enjoy all the benefits of DMCC, such as 0 per cent tax, 100 per cent business ownership, capital repatriation, as well as discounts on business licence renewal.

Executive Residences homes overlook the lush green Dubai Hills Park and the vibrant Dubai Hills Boulevard, and are in walking distance of the Dubai Hills Mall – all set within the 11 million square metre master-planned green oasis in the heart of the city.

Part of a three-tower development seated on a landscaped podium, Executive Residences feature one, two and three-bedroom apartments where homeowners can start, run and grow their business. Residents can choose from homes with park side, boulevard or Burj Khalifa views.

The tower has business-centric shared spaces such as meeting rooms, a common room and a café to facilitate the work from home lifestyle. Complementing the green views from the homes, Executive Residences focus on the wellness of residents with amenities such as a state-of-the-art modern gymnasium, Zen and yoga gardens, children’s play areas, and an infinity edge swimming pool to foster a stronger sense of community. Residents will also be in walking distance of two world-class hotels, schools, and healthcare centres.

Dubai Hills Estate is effortlessly accessible from Sheikh Zayed Road and is located at the crossroads of Al Qudra and Sheikh Mohammed bin Zayed Road. It will also have connectivity to public modes of transport including a Dubai Metro link. A dedicated Dubai Hills Rail line will connect residents and visitors to the two international airports in the city.

For more information, visit the Dubai Hills Estate Sales Pavilion on Umm Suqeim Road; Creek Harbour Sales Centre in Ras Al Khor; and the Abu Dhabi sales centre on the ground floor of Al Nahda Tower on 4th Street, Al Muroor Road.

For more information:

Kelly Home | Nivine William

ASDA’A BCW | +9714 4507 600

kelly.home@bcw-global.com | nivine.william@bcw-global.com

Dubai, UAE; January 9, 2019: Dubai’s Roads and Transport Authority (RTA) today commenced the operation of an exclusive Dubai Ferry route for Emaar’s visitors and residents linking The Dubai Mall, the world’s most-visited retail and lifestyle destination in Downtown Dubai, and Dubai Marina Mall.

Inaugurated in the presence of senior officials of RTA and Emaar, the new Dubai Ferry service will add to the delight of visitors to Downtown Dubai and Dubai Marina, as well as tourist groups and Emaar residents, as it links two of the most popular lifestyle destinations in the city through an environment-friendly urban transport service.

The new service builds on an earlier agreement signed between RTA and Emaar’s At the Top, Burj Khalifa to promote the sale of Dubai Ferry tickets to the popular tourist attraction in the iconic tower.

The ferry service, for a duration of about 1 hour 20 minutes one-way, will offer Emaar’s residents and tourists a new perspective to the city’s skyline. Assuring majestic views of the cityscape – from The Palm Islands to the skyscrapers along Sheikh Zayed Road and the Dubai Canal, the ferry will ply between the Dubai Marina ferry station, located behind the Dubai Marina Mall, and Al Wajeha Al Maeyah station, from where a complimentary shuttle service will take guests to reach The Dubai Mall and back.

Tickets can be purchased from At the Top, Burj Khalifa, from the guest service desks at The Dubai Mall and Dubai Marina Mall or www.burjkhalifa.ae as well as from the ferry stations. They are priced AED 68.25 per adult and AED 52.5 for children from 5 to 12 years.

Ahmed Bahrozyan, CEO of Public Transport Agency, said: “The marine transport network of Dubai is gaining considerable interest among visitors and residents, especially following the ongoing promotion of the Dubai Ferry service by At the Top, Burj Khalifa. The new service will add to the delight of users, who can cover two of the most popular malls effortlessly while enjoying scenic vistas of the city.”

Ahmed Al Falasi, Executive Director of Group Operations at Emaar Properties, said: “The new ferry service is a remarkable addition that will add to the touristic attractions in the city. Following the promotion of Dubai Ferry to visitors and tourist groups touring At the Top, Burj Khalifa, we had seen a growing interest in using the ferry service. Now with this exclusive service for Emaar’s visitors, residents and tourist groups, they have the added convenience of touring to of the city’s most popular lifestyle destinations.”

RTA has a fleet of nine ferry boats shuttling between eight stations including Ghubaiba, Marina Mall, Jaddaf, Water Canal, Sheikh Zayed Road, Al Wajeha Al Maeyah, Marasi and the Dubai Design District as well as provide charter service.

  • Assuring strong returns on investment, Palace Residences have a central, waterfront location near Creek Marina and Creek Beach, and adjacent to the Palace Dubai Creek Harbour hotel
  • Palace Residences will be serviced on demand by Address Hotels + Resorts, the award-winning hotel and serviced residences brand
  • Only steps away from Creek Marina, Palace Residences offer unobstructed views of Dubai Creek Tower and Ras Al Khor Wildlife Sanctuary
  • Sale of Palace Residences to commence on January 7, marking the first launch in Dubai Creek Harbour in 2019

Dubai, UAE; January 7, 2019: Palace Residences, a five-star waterfront branded residence development, has been launched in Dubai Creek Harbour, described as ‘The World of Tomorrow’.

The residences are only steps away from two flourishing waterfront destinations – Creek Marina with a vibrant promenade and the Creek Beach. Located on the promenade, the homes offer unobstructed views of the iconic Dubai Creek Tower and Ras Al Khor Wildlife Sanctuary. They are also in walking distance of Dubai Square, the retail metropolis of the future.

Palace Residences bring a boutique waterfront living experience for residents with branded 1, 2, 3 and 4-bedroom apartments. The homes will be serviced on demand by Address Hotels + Resorts, the award-winning premium luxury hotel and resorts brand.

Investors will have several benefits including 5-year property management services by Emaar, 50 per cent discount on membership at the Palace Dubai Creek Harbour Spa and pool, as well as 25 per cent discount on food and beverage at the hotel’s outlets.

Palace Residences are adjacent to the upcoming 121-room Palace Dubai Creek Harbour hotel featuring a range of dining choices and luxury hotel services. An architectural landmark, Palace Dubai Creek Harbour and Palace Residences are housed in two contemporary 44-storey towers rising above the Creek Canal and Creek Beach.

Residents will have access to a host of exclusive amenities in both the residential towers and the hotel. Among the amenities are a rooftop infinity edge swimming pool, signature rooftop lounge and grill, a full-fledged gymnasium, 24×7 concierge service and valet parking, among others. Residents will be able to use the hotel’s services and amenities on demand, including a modern spa, meeting rooms, 5-star deluxe hotel service, and all-day dining outlet. Enhancing the waterfront lifestyle of residents are access to a yacht club and a viewing deck for delightful views of the Dubai Creek.

With Palace Residences, investors and homeowners become part of a thriving neighbourhood, as the first homes in Dubai Creek Harbour are scheduled for hand-over early in 2019. Over 5,000 residents are set to move in to their homes in Creek Marina this year, with over 12,750 residents to move in next year.

ASSURING INVESTORS SIGNIFICANT RETURN ON INVESTMENT, PALACE RESIDENCES IS THE FIRST LAUNCH IN THE SIX SQUARE KILOMETRE MEGA-DEVELOPMENT IN 2019, WITH SALES TO COMMENCE ON JANUARY 7. FOR MORE INFORMATION, CALL 800 36227 (UAE) OR +9714 3661688 (INTERNATIONAL) OR VISIT THE CREEK HARBOUR SALES CENTRE IN RAS AL KHOR; THE ABU DHABI SALES CENTRE ON THE GROUND FLOOR OF AL NAHDA TOWER ON 4TH STREET, AL MUROOR ROAD, AND OTHER SALES CENTRES IN VARIOUS LOCATIONS.

Emaar NYE 2019 campaigns on social media, including the partnership with TikTok, the leading global destination for short-form mobile videos, engages nearly a billion social media usersMore than 1 million revellers join the celebration in Dubai with the live telecast and online streaming reaching billions of viewers globallyGrand fireworks and illumination of Burj Khalifa’s façade win Emaar two additional Guinness World Records – for ‘Largest LED-illuminated façade’ and ‘Tallest LED-illuminated façade’New Year’s Eve celebration also featured ‘longest show to date of The Dubai Fountain’LED shows on Burj Khalifa to continue for three months from January 1 to March 31
Dubai, UAE; January 1, 2019: In a never-before-seen spectacle of fireworks and laser displays on the iconic Burj Khalifa and the performances of The Dubai Fountain, Emaar mesmerised the world with its New Year’s Eve Gala in Dubai to usher in 2019.

The event welcomed over a million revellers in Downtown Dubai, Emaar’s flagship mega-development in the heart of the city. A highlight was the special tribute to the late Sheikh Zayed bin Sultan Al Nahyan, the founding father of the UAE, whose birth centennial was observed in 2018 as the ‘Year of Zayed’.

The Emaar NYE 2019 show’s social media campaigns reached over a billion users, complemented by Emaar’s partnership with TikTok – the leading global destination for short-form mobile videos. TikTok marked its launch in the UAE with a special LED display on Burj Khalifa in the early hours of the New Year’s Eve Gala.

Emaar NYE 2019 was one of the world’s most-watched New Year’s Eve celebrations telecast live globally and live-streamed on mydubainewyear.com, reaching billions of people. The illumination of the façade of Burj Khalifa also earned it two additional Guinness World Records – for the ‘Largest LED-illuminated façade’ and the ‘Tallest LED-illuminated façade’.

Mohamed Alabbar, Chairman of Emaar Properties, said the New Year’s Eve Gala is a tribute from the UAE to the world, reflecting the positivity and cosmopolitan outlook of the nation. “The UAE, and Dubai, inspire hope and optimism, and bring together a global community to shape the future. With this celebration, we are highlighting the vision of our leadership to create a new era of progress through openness and collaboration, here in Dubai and the UAE – for the world.”

The Emaar NYE 2019 was also a statement on the positive partnerships that the UAE fosters. The event was supported by governmental entities including the Roads and Transport Authority, Dubai Police, Dubai Health Authority, Dubai Civil Defence, the Department of Tourism & Commerce Marketing, among others. Visitors arrived from around the world to join in the celebration with hotels in the vicinity reporting hundred per cent occupancy.

Following Emaar’s partnership with TikTok, five lucky couples from China, India and the Middle East were flown in to Dubai to be part of the spectacle in addition to 55 top global influencers who promoted the Emaar NYE 2019 Gala to their followers. Emaar also selected two lucky winners of their social media competition to enjoy the celebration from a helicopter. Further, as part of the Burj Wishes campaign, several New Year messages submitted by the public on Emaar’s Twitter, Facebook and Instagram feeds @EmaarDubai using the hashtag #2019MakeAWish were displayed on Burj Khalifa’s façade.

The much-awaited Emaar NYE 2019 show, themed ‘time and progression’, was accomplished using advanced software and involved thousands of hours of work. The pyrotechnics were put together by a team of over 40 professionals, and over 250 experts worked on the laser and light show.

Inspiring visuals celebrating the heritage of the nation kicked off the event which went on for eight minutes on the Burj Khalifa’s LED façade. Adding to the allure was the performance of The Dubai Fountain, the longest show to date of the water-music spectacle.

The laser shows underlined the achievements of the UAE, celebrated the life of the late Sheikh Zayed, and featured visual renditions of the UAE’s Mars Mission – all set to engaging music compositions, specially composed for the event.

The Emaar NYE 2019 Gala reached its feverish pitch as the countdown to the New Year began. In an all-out display of spellbinding pyrotechnics that deployed over 9,400 fireworks with an active weight of 1,371 kg and fired from 2,017 positions, the UAE, Dubai and Emaar wished the world’ a ‘Happy New Year’ with the message relayed in Arabic, English and Chinese.

The experience can be re-watched online at mydubainewyear.com. Emaar will also showcase a short version of the LED and laser shows from January 1 to end-March to delight visitors to Downtown Dubai.

The laser and light display that charmed the world as part of the Emaar New Year’s Eve Gala will continue through March with two distinct sets of experiences. The shows will be complemented by the performances of The Dubai Fountain, ensuring that visitors to Downtown Dubai will continue to be regaled during Dubai’s busy tourist season.

From January 1 to 5, a shorter version of the Emaar NYE 2019 gala will be displayed that will include laser, light and The Dubai Fountain shows. These will be held at 7pm and 9pm on Tuesday and Wednesday, and at 8pm, 9pm and 10pm on Thursday, Friday and Saturday.

From January 8 to March 31, the shorter version of NYE gala will be displayed daily once from Tuesday to Saturday. There will also be two separate laser and light shows from the extensive LED display library of Burj Khalifa. The shows on Tuesday and Wednesday will be at 7.15pm, 8pm and 9.15pm, and from Thursday to Saturday at 6.45pm, 8pm and 9.45pm.

The laser and light displays, which were part of the Emaar NYE 2019 Gala, narrate the story of the UAE under the theme ‘time and progression’. It highlights the heritage of the nation, its progress over the years, and its future ambitions including the Mars Mission. Abstract motifs highlight the continued forward journey of the country.

  • What: Laser and light shows
  • Where: Burj Khalifa in Downtown Dubai
  • When: From January 1 to March 31, 2019

The offices serve as a link between China and the UAE, a place where the Chinese can connect with opportunities in the UAE for tourism, investment and shopping Dubai,

UAE; December 11, 2018: Emaar, the developer of the iconic Burj Khalifa and the upcoming Dubai Creek Tower, has commenced business development operations in China. This follows the announcement in July of the company’s expansion to the country, coinciding with the coinciding with the historic visit of President Xi Jinping of China to the UAE.

Emaar has a team of dedicated business development professionals in the country, specially recruited from China, and has started the design and fit-out of two premium offices in CBD of Beijing and Shanghai.

In addition to promoting the UAE and Dubai as a high-growth investment destination, the two Emaar showrooms will showcase the flagship and ongoing premium lifestyle, shopping and hospitality developments in Dubai, like The Dubai Mall and Address Hotels as well as touristic destinations such as Burj Khalifa and Dubai Aquarium & Underwater Zoo.

The diverse international educational opportunities such as New York University and Sorbonne University Abu Dhabi – a keen requirement by Chinese investors in property – as well as the healthcare amenities that are available close to Emaar’s communities are highlighted at the state-of-the-art showrooms.

Emaar aims to work with the UAE embassy in China to promote the nation’s appeal to Chinese investors, with guidance from HE Ali Obaid Al Daheri, UAE Ambassador to China, who has been actively promoting UAE-China ties, by fostering trade relations and tourism, as well as highlighting the UAE’s appeal as an investment hub.

Emaar is also expanding its premium luxury hotel and serviced residences brand, Address Hotels + Resorts, to China. Address branded hotels will open in key cities in the country, building on the familiarity that the brand enjoys among Chinese tourists. Today, Emaar’s hotels are among the most-preferred by Chinese visitors, given their central location and access to lifestyle destinations such as The Dubai Mall.

Emaar’s expansion to China complements the ‘Belt and Road Initiative’ announced by President Xi Jinping, in which the UAE will have a significant part to play. Chinese visitors can enjoy visa-on-arrival and have effortless connectivity with the city with Emirates operating to the key cities in China.

Emaar Community Management joined hands with residents of its master-planned lifestyle destinations to host Iftar for various service providers as part of the #Building_Communities initiative during the Holy Month of Ramadan.

Residents not only contributed a wide array of food products, but also participated as volunteers in serving the workers at the “serve our service providers” Iftar held recently at Emirates Living and Arabian Ranches. The workers were welcomed by Ahmad Al Matrooshi, Managing Director – Emaar Properties.

The event aims to strengthen the spirit of service and sharing, and to demonstrate the gratitude of Emaar Community Management and residents to the service providers for their exceptional work in the upkeep and maintenance of Emaar communities. Security guards, lifeguards, landscaping, MEP and housekeeping staff and other workers took part in the Iftar and celebrated the cohesive spirit of caring and giving in the Year of Zayed.

Follow and participate in the campaign on Emaar’s social networks with the hashtag #Building_Communities

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.

Revenue for half-year 2017 is AED 7.866 billion (US$ 2.142 billion), an increase of 8% over the same period in 2016Emaar plans to list its UAE Real Estate development business through up to 30% equity offering; strong growth in sales underlines significant interest of customers in Emaar’s property developmentsRevenue from international development grew up by 64% to AED 1.697 billion (US$ 462 million) representing 22% of total revenue
Dubai, UAE; August 14, 2017: Emaar Properties PJSC recorded a growth in net profit by 15 per cent to AED 2.837 billion (US$ 772 million) during the first six months (January to June) of 2017 (H1 2017), compared to AED 2.475 billion (US$ 674 million) during the same period last year. H1 2017 revenue is AED 7.866 billion (US$ 2.142 billion), an increase of 8 per cent over H1 2016 revenue of AED 7.257 billion (US$ 1.976 billion).

Recurring revenue from Emaar’s shopping malls & retail, hospitality & leisure, commercial leasing and entertainment businesses in H1 2017 is AED 3.016 billion (US$ 821 million), which represents 38 per cent of the total revenue.

Emaar’s revenue from its international development recorded a growth of 64 per cent in H1 2017 to AED 1.697 billion (US$ 462 million), compared to the H1 2016 international revenue of AED 1.032 billion (US$ 281 million). This was underpinned by significant progress in projects achieved in key markets including Egypt, Turkey, India and Saudi Arabia, among others. Emaar’s international development now contribute 22 per cent to the total Group revenue.

In the second quarter (April to June) of 2017 (Q2 2017), Emaar recorded a net profit of AED 1.453 billion (US$ 396 million), an increase of 14 per cent over Q2 2016 net profit of AED 1.270 billion (US$ 346 million).

A customer-focused digital organisation Mohamed Alabbar, Chairman of Emaar Properties, said the positive performance builds on Emaar’s ongoing focus on project delivery and being a customer-centric organisation. “Organisation-wide, we are marking a transformational change to strengthen project management and service excellence led by digital technology. At every stage of development, we place emphasis on being more efficient and responsive to the aspirations of our customers, and to create long-term value for our stakeholders.”

“This complements the transition of the nation into a smart economy led by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai. As a year-round tourism and retail destination, and with a focus on infrastructure development, the UAE has evolved as a global business and leisure hub, and through our projects, we are contributing to the nation in driving sustained economic growth.”

Emaar’s commitment to value creation for shareholders was highlighted by the company distributing a cash dividend of 15 per cent of the share capital, equivalent to AED 1.074 billion (US$ 292 million).

To provide superior value to all Emaar’s shareholders for their unwavering support to the company since 1997, Emaar has announced its plan to list its UAE Real Estate development business through up to 30 per cent share offering on the Dubai Financial Market (DFM).

The funds raised through the sale of equity will be primarily distributed as dividends to shareholders. This will ensure that the value of this business is properly recognised, thereby enhancing value for Emaar shareholders.

Smart city hubs of the future During the first six months of 2017, Emaar recorded property sales in Dubai of AED 10.814 billion (US$ 2.944 billion), 22 per cent higher than AED 8.9 billion (US$ 2.42 billion) during the same period in 2016, underlining the significant customer interest in Emaar’s projects.

This growth was led by residential launches in Emaar’s flagship projects including Dubai Creek Harbour, Downtown Dubai, Dubai Hills Estate and Emaar South – the smart city hubs of the future. The new residential project launches in the first six months of the year included: Downtown Views II and Vida Dubai Mall in Downtown Dubai, Vida Residences in Dubai Marina, Creek Gate, Harbour Gate and Creek Rise in Dubai Creek Harbour, Park Heights I & II and Maple 3 in Dubai Hills Estate and Golf Views apartments and Urbana III stacked townhouses in Emaar South.

A highlight of Emaar’s property development portfolio was the completion of foundation work for the Dubai Creek Harbour Tower. More than 145 barrette piles have been laid to depths of over 72 metres to secure the super-tall structure. Emaar also achieved the challenging engineering feat of designing, constructing and lifting an iconic Sky Bridge that links the new Address Sky View hotel with the Address Residences Sky View in Downtown Dubai.

With robust sales in Dubai, Emaar now has a total backlog of AED 49.5 billion (US$ 13.5 billion) including a backlog of over AED 40 billion (US$ 10.9 billion) in Dubai, to be recognised in the next few years, a testament to the company’s strong financial fundamentals.

Steady growth in recurring revenue Emaar Malls (DFM: EMAARMALLS), the shopping malls and retail business majority-owned by Emaar Properties, reported H1 2017 net profit of AED 1.021 billion (US$ 278 million), 3 per cent higher than H1 2016 net profit of AED 987 million (US$ 269 million). Emaar Malls revenue in H1 2017 is AED 1.624 billion (US$ 442 million), similar to H1 2016 revenue of AED 1.618 billion (US$ 441 million).

As part of the digital transformation initiatives, Emaar Malls acquired a 51 per cent stake in Namshi, the leading online fashion retailer in the Middle east. This complements its focus on multi-channel retailing, and creating long-term value for its stakeholders. At its second Annual General Meeting in April, Emaar Malls distributed 10 per cent of the share capital, equivalent to AED 1.301 billion (US$ 354 million) as cash dividend to the shareholders.

The shopping mall assets of Emaar Malls welcomed over 65 million visitors in the first half of 2017, an increase of 7 per cent over H1 2016.

The hospitality & leisure, commercial leasing and entertainment businesses of Emaar recorded H1 2017 revenue of AED 1.392 billion (US$ 388 million), which is 7 per cent higher than the H1 2016 revenue of AED 1.298 billion (US$ 353 million).

Emaar further strengthened its hospitality portfolio in the first half of the year with the opening of three properties – Address Boulevard in Downtown Dubai, Rove Healthcare City and Rove Trade Centre. Occupancy levels at Address Hotel + Resorts were 82 per cent, higher than industry average. The hospitality business has also expanded its geographic footprint with management agreements to operate hotels in Saudi Arabia, Bahrain, Egypt and Turkey. Today, the Group has over 27 upcoming projects in the pipeline in the UAE and in international markets.

In Q2 2017, Emaar Turkey opened Emaar Square Mall, a world-class retail and leisure destination located in the heart of Emaar Square in Istanbul, an elegant master-planned development, showcasing some of the world’s leading retail, entertainment and gastronomy brands to assure visitors a memorable experience.

One of the world’s largest real estate companies, Emaar has a land bank of about 188 million sq m in the UAE and key international markets. With a proven track-record in delivery, Emaar has delivered over 43,200 residential units in Dubai and other global markets since 2001.