Category: Business Segments

Abu Dhabi and Dubai’s leading developers partner to create world-class lifestyle destinations with a targeted AED 30 billion national and international development pipeline.

Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum and Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces His Highness Sheikh Mohamed bin Zayed Al Nahyan today attended the announcement of a joint venture (JV) between Aldar Properties (Aldar) and Emaar Properties (Emaar) to develop the world’s next era of iconic destinations that will shape the UAE’s ever-evolving skyline.

His Highness Sheikh Mohammed bin Rashid highlighted the importance of cooperation between the UAE’s two leading developers. “We are happy to witness the signing of this partnership, which will contribute to our development journey and help enhance the UAE’s position as a tourism destination of choice. We have great ambitions and we are confident our national firms have the capabilities to achieve them. We want our companies to be at the forefront of our development and collaborate with each other to explore creative ideas for strengthening the UAE’s leadership, and enhancing the happiness and quality of life of our people.”

His Highness Sheikh Mohamed bin Zayed applauded the major partnership between the two firms, and wished them success in promoting growth and excellence. This partnership aims to create new opportunities for investment growth, and identify innovative projects that can enhance the UAE’s leadership and competitiveness, His Highness said.

In a first for the country’s leading developers, the JV signifies the strong bond between Abu Dhabi and Dubai as they seek to cement the UAE’s reputation for creating the world’s most innovative developments. The JV, with a targeted AED 30 billion national and international development pipeline and an initial focus on two projects, brings together the capabilities of the country’s leading developers to deliver exceptional destinations, designed with a focus on people and future lifestyle trends. It also acts as a catalyst for other potential co-investment opportunities between the developers in Abu Dhabi and Dubai.

In the presence of His Highness Sheikh Mohammed bin Rashid Al Maktoum and His Highness Sheikh Mohamed bin Zayed Al Nahyan, as well as senior government officials from Abu Dhabi and Dubai, the historic JV was signed by His Excellency Mohamed Khalifa Al Mubarak, Chairman of Aldar Properties, and His Excellency Mohamed Alabbar, Chairman of Emaar Properties.

His Excellency Mohamed Khalifa Al Mubarak said: “Without doubt, the joint venture will expand the country’s portfolio of iconic real estate projects and there is no limit to the development possibilities created by the JV partnership between Aldar and Emaar. Individually, we have developed some of the world’s most awe-inspiring buildings and together, we have an incredible proposition that will contribute to achieving our national vision and make the UAE an even more exciting place to live and visit.”

His Excellency Mohamed Alabbar added: “This joint venture is a strong testament to the spirit of partnerships that have contributed to establishing the UAE as a global hub for business and leisure. The world-class lifestyle destinations that we develop will add to the civic pride of the nation, and further enhance its appeal as an investment and lifestyle destination. We are drawing on our proven competencies in delivering high quality master-planned communities that have not only redefined lifestyles but also created tremendous economic value for our country. This partnership sends a powerful message that the UAE is at the forefront in shaping global real estate trends, and also signifies the unbreakable bond between the two emirates.”

JV to focus on two development projects

The JV will initially focus on two projects – one in Dubai and one in Abu Dhabi, demonstrating the co-investment between the two developers. The master-planned destination in Abu Dhabi will be situated in one of the country’s most strategic and valuable locations in the heart of the Emirate’s Cultural district on Al Saadiyat Island, named Saadiyat Grove. The development is set to become Abu Dhabi’s most coveted address, serving as a hub for visitors to three world-class museums as well as residents of the island, which is synonymous with natural beauty, cultural experiences, architectural splendour and vast business potential. The development will provide a pivotal link between the Louvre Abu Dhabi, which opened to international acclaim in November 2017, as well as the planned Zayed National Museum, the UAE’s first national museum, and the Guggenheim Abu Dhabi.

Set to open in 2021, the mixed-use development will feature close to 2,000 residential units, two world-class hotels, 400 serviced apartments and 130,000 square metres of experiential lifestyle and retail space, designed with a focus on the lifestyles of the future and millennials. It will further enhance the appeal of Abu Dhabi and cement the standing of the Emirate’s Cultural District as a leading destination for the arts and an enviable residential location.

The second project is the unique new waterfront destination, Emaar Beachfront. The private island, by the Arabian Gulf, will feature a wide range of leisure and lifestyle attractions including F&B outlets, beachside play areas, retail pop-ups set along a promenade, and more. Residents of Emaar Beachfront, comprising approximately 7,000 residential units, have access to a 1.5 km private sandy beach.

Located off King Salman bin Abdulaziz Al Saud Street, in the area between Jumeirah Beach Residence and Palm Jumeirah, Emaar Beachfront has direct access to Sheikh Zayed Road and Dubai Marina. Residents will be within close proximity of Dubai Harbour, currently under development by Meraas, which will feature a waterfront shopping mall, the Middle East’s largest marina with over 1,100 berths, a yacht club, luxury hotels and a choice of retail, dining and entertainment attractions.

The JV between Aldar and Emaar will focus on creating remarkable destinations in some of the country’s most sought-after locations through a series of joint master-planned developments.

Emaar is joining millions of people around the world to observe Earth Hour on March 24, 2018, by switching off all non-essential lights across its master-planned communities.

Supporting World Wildlife Fund’s (WWF) landmark movement that unites people to show their commitment to the planet, Emaar has also called on all residents in its communities to join the grassroots campaign that aims to raise awareness on energy conservation and climate change.

Emaar has also urged Earth Hour 2018 supporters to champion the #Connect2Earth movement by posting visuals and sharing experiences on what natural habitat and energy efficiency means to them.

For one hour, from 8.30pm, all non-essential lighting across Emaar’s integrated neighbourhoods will be switched off. This will include hotels, malls and general areas, with only functional lighting to be operated.

Burj Khalifa will salute Earth Hour 2018 by not displaying the ‘Light Up’ show on March 24 in a bid to highlight awareness on the campaign and its long-term positive impact for the whole of humanity.

Posters have been placed across all community noticeboards at Emaar’s Downtown Dubai, Dubai Marina, Emirates Living and Arabian Ranches. Event flyers are also being distributed to encourage stronger community participation while all residents will be informed of the campaign.

Emaar has also called upon its employees to take part in the initiative by ‘switching-off’ in their homes.

Earth Hour is WWF’s global environmental movement. Born in Sydney in 2007, Earth Hour has grown to become the world’s largest grassroots movement for the environment, inspiring inpiduals, communities, businesses and organisations in more than 180 countries and territories to take tangible climate and environmental action for over a decade.

In a fitting tribute to the fast-growing creative scene of the UAE and to celebrate the evolution of Dubai Opera as a cultural hub, Emaar has launched the ‘Dubai Music Band.’

The debut performance of the Dubai Music Band, a subsidiary of Dubai Opera, was held at the iconic multipurpose venue in Downtown Dubai, and featured popular compositions by composers from across the Arab world, including several Emirati and Gulf-based musicians.

Emaar commissioned renowned singer Eid El Farag to establish and supervise the Dubai Music Band, which aims to highlight Emirati and Arab musical talents. Dubai Music Band will also provide the opportunity for emerging young Emirati talent to showcase their skills and contribute to the UAE’s booming creative scene.

Complementing the world-famous performances hosted at Dubai Opera, Dubai Music Band will add to the appeal of UAE residents and visitors as well as cultural enthusiasts with a dedicated programme that focuses on the best in Arab and Oriental music, and in presenting Emirati music to a global audience.

Open to all Emirati young musical talents, Dubai Music Band will be supported initially by veteran Arab musicians, who will train the young musicians with the goal of establishing the band as one of the region’s largest and most integrated troupes.

Interested young musicians can apply to join the Dubai Music Band, with new members to be accepted based on specific criteria such as their interest, passion and skills. Selected members will be provided specialised training and will eventually form part of the band.

Ahmed Al Matrooshi, Managing Director, Emaar Properties, said: “The Dubai Music Band is a path-breaking initiative by Emaar that underlines our commitment to promote the creative scene of the UAE. With a focus on nurturing our young talents, the initiative complements the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, to promote the creative industries and to nurture youth talent in arts. Our goal is to highlight the competencies of our young musicians and elevate Emirati music to the global league by drawing on our rich heritage in music and performing arts.”

The opening concert of the Dubai Music Band had two parts. The first entitled, ‘Journey of the Gulf Tune’, included original and traditional Gulf music, as well as two musical pieces by Eid Al Faraj, founder and supervisor of the band.

The second part titled, ‘Arab Musical Varieties’, took audiences through some of the most popular Arab songs and compositions by Eid El Farag. Ahmed Taha and Abdulaziz Al Madani led the performance.

Emaar has been a dedicated supporter of cultural and artistic initiatives underlined by the creation of Dubai Opera, the first multi-purpose theatre for performing arts. Since its opening in 2016, Dubai Opera has welcomed the world’s largest musical productions and concerts by legendary artists from the region and around the world.

THE ‘100 COLORS’ SERIES ARRIVES IN DUBAI WITH A COLOURFUL INSTALLATION SET ACROSS 1 KM OF MOHAMMED BIN RASHID BOULEVARD
Art Emaar has announced – ‘100 Colors,’ a spellbinding installation set across one kilometre of Mohammed bin Rashid Boulevard. Conceived by French architect Emmanuelle Moureaux ten years ago, the project has delighted audiences around the world with mesmerising chromatic experiences in urban spaces.

For its Dubai debut, the largest ever, Art Emaar invited the artist to draw on the spatial elements of Downtown Dubai, defined by the iconic Burj Khalifa, The Dubai Mall, Dubai Opera and The Dubai Fountain, to create a fully immersive urban intervention. ‘100 Colors’ stretches from Address Downtown and meanders down the boulevard, inviting the public to rediscover the space.

The installation frames the heart of Downtown Dubai with 300 imposing gates displaying the full colour spectrum. One by one, more than 10,000 pieces of fabric were hand-dyed for the installation. In total, they amount to an uplifting public gesture that will add to the breeziness and positivity of Downtown.

Ultimately, the work aims to spur an emotional reaction in the viewer. The artist’s intention is born of her own life experience. She recalls how in 1995, on her first visit to Japan the sight of overflowing colours in Tokyo’s streets convinced her to move there permanently.

Moureaux launched the ‘100 Colors’ series in 2013; in its Dubai version, the project will give people the opportunity to see, touch and feel colours with all their senses; inviting awareness and sensitivity to colour and space.

Moureaux has been living in Tokyo since 1996, where she established ‘Emmanuelle Eoureaux Architecture + Design’ in 2003. Using colour as an organising principle to compose space, her work functions as a vehicle for emotional experiences through art, design to architecture. Her ‘100 Colors’ series has been exhibited in various locations, including: Tokyo, Osaka, Brussels, Buenos Aires, and Pittsburgh among others

‘100 Colors’ is among the first of a new wave of art installations curated by Art Emaar. The initiative aims to bring new aesthetic experiences to Emaar’s master-planned developments and to engage people through various arts and culture initiatives. Embodying the sublime experience of pure colour, this new installation will capture visitors’ imaginations with colourful Instagrammable moments guaranteed.

For more, visit: www.emaar.com; Follow us: www.facebook.com/emaardubai; www.twitter.com/emaardubai; www.instagram.com/emaardubai

Dubai Hills Weekend, a series of outdoor events for the entire family at Dubai Hills Estate, the 11 million sq m master-planned green oasis by Emaar, is bringing the largest in its series to date on March 9, promising big fun for little ones.

Having welcomed thousands of visitors, the Dubai Hills Weekend: Wonder Picnic returns with a wide range of fun-filled events tailored for families.

This weekend, take delight in getting up and close to ponies at the Petting Zoo, while children can venture to find their inner artistic spirit at the Arts & Crafts corner with face painting, sand art and more. They can continue to enjoy their favourite Emoji characters at the Ball Pit, and try their luck at the Penalty Shootout.

The event will delight visitors with its oversized inflatable props, unexpected decorative items, Live DJ and an assortment of food and leisure choices, from 2pm to 10pm. Food vendors will present culinary delicacies including soft and select beverages. Visitors will also be offered picnic blankets on site and can revel in a range of Instagrammable photo opportunities.

An ideal getaway for the weekend in the prevailing cool weather, the Dubai Hills Weekend series promises a fun-filled Friday in one of the most desirable lifestyle destinations in the city.

Dubai Hills Estate is one of the largest master-planned destinations by Emaar, in the city which will feature an 18-hole championship golf course, the Dubai Hills Mall as well as vast stretches of landscaped parks including Dubai Hills Park, gardens, winding walkways, and extensive open areas.

Defining the value proposition of ‘where life is extraordinary,’ Dubai Hills Estate is a part of Mohammed bin Rashid City (MBR City), and centrally located between Downtown Dubai on the north and Arabian Ranches in the south.

What: Dubai Hills Weekend: Wonder Picnic

Where: Dubai Hills Estate

When: Friday, March 9, 2018 from 2pm to 10pm

Entry: Free to the public

Apartments, penthouses and townhouses set in 62-storey tower located in Creek Island at Dubai Creek HarbourUninterrupted views of the upcoming new icon Dubai Creek Tower and Downtown Dubai skylineSet by Dubai Creek Harbour’s vibrant marina and promenade; sale of The Grand residences to commence on March 8
Emaar Development (DFM: EMAARDEV) has unveiled an exclusive collection of ultra-luxury apartments, penthouses and podium-level townhouses in The Grand, a spectacularly designed residential tower located near the heart of Creek Island at Dubai Creek Harbour. The limited-edition launch represents a once-in-a-lifetime opportunity in this community.

The Grand is an ‘ultra-luxe’ residential address in the 6-square-kilometre Dubai Creek Harbour, situated just 15 minutes from the Dubai International Airport and Downtown Dubai. Set by the historic Dubai Creek, the mega-development is also near the Ras Al Khor Wildlife Sanctuary, protected under the UNESCO Ramsar Convention and home to over 450 animal species including the Greater Flamingo and other migratory birds.

At 62-storeys, The Grand features premium 1, 2, and 3-bedroom apartments, 4-bedroom penthouses, and spacious podium-level townhouses with private gardens. Celebrating its prime location by the marina and the waterfront promenade, The Grand offers resort-style living with upper-level homes opening to uninterrupted views of the new global icon, Dubai Creek Tower, and the Downtown Dubai skyline.

Residents step out to a thriving waterfront promenade with a unique collection of cultural, retail, food & beverage and leisure attractions, with an upcoming high-end retail district in Dubai Creek Harbour also in close proximity. They also have exclusive access to a distinctive lounge space on the rooftop. Marine enthusiasts will have added value with the world-class marina that can berth yachts of various sizes.

Ahmad Al Matrooshi, Managing Director of Emaar Properties, said: “Dubai Creek Harbour is one of the most sought-after lifestyle destinations in the city. With tremendous economic value to be generated by the new global icon, Dubai Creek Tower, and a wide range of retail, F&B and leisure attractions, it is truly a city of the future, assuring strong returns for investors and a premium setting for home-owners. The Grand is a premium collection of residences, highlighted by its unique value propositions of being set by the Marina and the spellbinding views that the homes offer.”

Dubai Creek Harbour will feature world-class hotels, green parks and gardens, several cultural attractions, glistening canals, lush parklands, landscaped promenades, pedestrian walkways, cycle paths, city bus routes and the Dubai Metro link.

The Grand delivers high quality social, leisure, health and general well-being amenities. Among the lifestyle choices are an iconic infinity pool, cabanas, play areas, gymnasium, tennis court, multi-purpose sports lawn, BBQ area, and more. The Grand also offers a wide range of podium-level amenities tailored for families.

Emaar will launch the sale of The Grand residences on March 8, 2018. Visit Dubai Creek Harbour Sales Pavilion in Ras Al Khor, Emaar Sales Centre at Downtown Dubai, 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 sales and enquiries. 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 ‘Online Sales Centre’ feature on Emaar’s e-Services App.

Are you a start-up entrepreneur, a freelance consultant or a professional looking for an alternative space to meet, work, brainstorm and co-create? An innovative initiative by e25, Emaar’s in-house innovation lab for under 25-year-olds, brings a brand-new approach to Dubai’s co-working spaces, tailored just for you.

letswork, the first start-up rolled out by e25, has transformed some of the city’s chic venues to create inspiring, affordable and flexible co-working spaces, a trend that is fast shaping the future of work globally with even large tech firms leveraging such flexible work spaces to have better access to innovators, innovation and talent.

letswork simplifies the notion of co-working spaces for its members with an array of benefits including unlimited tea, coffee, water and wi-fi, reserved seating with plugs, meeting room access, free parking and a 20 per cent discount on F&B at all its venues.

Co-founded by e25 Partners Omar AlMheiri and Hamza Khan, letswork currently offers six inspiring locations including Sean Connolly at Dubai Opera, Rove Downtown, Rove Healthcare City, Rove City Centre, Rove Trade Centre and Molecule at Dubai Design District – all set in central locations in the city and among the most desirable pitstops to charge up your entrepreneurial flair.

Ambience is key, with the bright, relaxed environs curated thoughtfully to make every meeting, and every work-session as breezy as it can get. More locations are being added.

Membership is as simple as logging on to www.letswork.io. You can opt for a daily (AED 39), weekly (AED 209) or monthly (AED 490) package proving to be among the most affordable alternative work environments outside a typical office environment.

The packages make business-sense: According to reports, alternative spaces, such as coffee shops are emerging as meeting places for business executives, with about AED 25-35 being the average spend on coffee, and 25 to 35-year-olds being the most popular age demographic at these venues.

With letswork, you not only have unlimited coffee or tea at just AED 17 if you sign up for a monthly package, you also have the unbeatable value of being at a relaxed, trendy venue, where you can conduct business or work at your pace with none of the fuss of crowded cafes.

What: letswork, the new co-working space in Dubai
Where: Six locations and more coming
For details: log on to: www.letswork.io
Follow on Facebook, Twitter and Instagram @letsworkdxb

Rise in the joy of giving. Rise in the cheer of sharing. Rise in the spirit of inclusiveness.

Shams Emaar, the corporate social responsibility team of Emaar, welcomes you to RISE Dubai Creek Harbour on Saturday, March 3, 2018, to celebrate a magical day of inclusiveness with People of Determination.

The new social and lifestyle hub of the city, RISE Dubai Creek Harbour at Dubai Creek Harbour by Emaar, is hosting another #BuildingCommunities event by Shams Emaar, this time, supporting the UAE Vision 2021 and the National Strategy for Empowering People of Determination, announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai.

Welcoming People of Determination, families and the public to a fun-filled event, RISE Dubai Creek Harbour will showcase a perse assortment of activities – from live performances to unique food concepts, children’s activities, workshops for young and old, and a vibrant pop-up market.

A memorable day that will celebrate the joy of togetherness and the spirit of inclusivity, there is much more fun in store for all – from karaoke to drum circle performances, talent shows and as the evening comes to a close, an open air cinema screening.

The special showcase at RISE Dubai Creek Harbour underlines the focus of Shams Emaar to promote activities that integrate People of Determination in everyday activities. It complements the #BuildingCommunities campaign, which kicked off during the Holy Month of Ramadan last year.

Shams Emaar hosts quarterly events that raise awareness on important causes and engages the people. The RISE Dubai Creek Harbour event is its first this year.

Shams Emaar is an initiative of e25, the dynamic and autonomous team of under 25-year-olds at Emaar, defining the future of Dubai. e25 is on a single-minded mission to #MakeThingsHappen and in making the world an easier, better and happier place to live in.

Follow the event at: https://www.facebook.com/events/169097717045630/

Visitors to RISE Dubai Creek Harbour can arrive and depart at their convenience with discounted rides via Careem to and from Dubai Creek Harbour using the promocode RISEDCH. Visit www.risedubaicreekharbour.com for the full schedule of its week-round activities.

• What: People of Determination meet at RISE Dubai Creek Harbour
• Where: Dubai Creek Harbour
• Date/Time: Saturday, March 3, from 2 to 10pm
• Price: Activities are free for all to enjoy

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.

It was a historic first: Joining the over 1.39 billion Chinese nationals across the world and underpinning the strong UAE-China bilateral ties, Emaar Properties ushered in the Chinese New Year in Dubai with a dazzling dragon-themed ‘Light Up’ show on the iconic Burj Khalifa.

With the New Year message coming to life on the façade of Burj Khalifa, one of the most-visited global attractions by the Chinese, Emaar presented a spectacular theme-show with lights and laser, witnessed by hundreds of thousands of visitors in Downtown Dubai. Joining the celebration were the Chinese Consul-General in Dubai Li Lingbing and senior diplomats as well as Emaar’s senior management.

The ‘Light Up’ show on Burj Khalifa started with a flying dragon taking flight from the Great Wall of China. It soared high in the sky, and toured over Dubai’s landmarks including the upcoming Dubai Creek Tower before marking a splash at The Dubai Fountain.

The ‘dragon’ then swirled up and encircled the tower before releasing a shining pearl from its mouth to the top of Burj Khalifa’s spire – at a height of 828 metres (2,716.5 feet). Shining bright atop the tower, the resplendent pearl of light was a majestic show-stopper before the ‘Happy New Year’ message was splashed on the façade.

The ‘Light Up’ Chinese New Year show on Burj Khalifa will continue from 8pm to 10pm daily until February 24, complementing the ongoing celebrations at The Dubai Mall. Several activities are lined up at the mall that take visitors on a journey through China’s vast provinces with music, traditional dance, arts, crafts and cultural performances.

With over 250,000 Chinese residents in the UAE and thousands of tourists from China arriving to join the celebration, the ‘Light Up’ show was a perfect tribute to the cultural and trade ties that the two nations share.

Downtown Dubai and its attractions including Burj Khalifa, The Dubai Mall and The Dubai Fountain are among the most popular destinations for Chinese visitors. According to the Dubai Tourism 2017: Performance Report, Dubai welcomed over 764,000 Chinese tourists in 2017, a growth of 41 per cent over 2016, especially following the introduction of visa-on-arrivals for Chinese nationals in the UAE.

For details, visit: www.emaar.com; Follow on: www.facebook.com/emaardubai; www.twitter.com/emaardubai; www.instagram.com/emaardubai