Category: Business Segments

Emaar Properties is celebrating more than fifty years of the launch of the James Bond franchise with an array of dazzling experiences, including the exhibition ‘Designing 007: Fifty Years of Bond Style.’

Burj Khalifa, the global icon by Emaar, will showcase the ‘Designing 007: Fifty Years of Bond Style’ exhibition from November 14, 2016, to February 13, 2017, highlighting the craft behind the cinema icon focusing on its distinctly British luxuriance.

The exhibition at Burj Khalifa ANNEX will present the design and style of the James Bond franchise and the craft behind the sets, the music, gadgets, vehicles, technology and fashion over the course of five decades. The celebration will be held across perse assets of Emaar including At The Top, Burj Khalifa, the world’s highest observation deck; Reel Cinemas and Dubai Aquarium & Underwater Zoo at The Dubai Mall and The Dubai Fountain – all in Downtown Dubai, allowing visitors to immerse themselves in the James Bond franchise like never before.

Since its successful debut at the Barbican Centre, London, in 2012, ‘Designing 007’ has been exhibited in Toronto, Shanghai, Melbourne, Moscow, Rotterdam, Madrid, Mexico City and Paris. For the first time in the Middle East visitors will be able to encounter items including Scaramanga’s Golden Gun from The Man with the Golden Gun and Daniel Craig’s wardrobe from Casino Royale, the Spectre Aston Martin DB10 and more on display.

Ahmad Al Falasi, Executive Director – Group Operations, Emaar Properties: “An architectural masterpiece that has pushed the boundaries of technology, Burj Khalifa is an ideal fit to the sheer excitement and adrenaline rush that Bond movies assure its fans. Over a period of three months, visitors to Downtown Dubai will be assured of an exceptional experience as we celebrate, for the first time in the region, the creativity and craft behind the Bond franchise. To host the 50th anniversary edition in Dubai, underlines the emergence of the city as a favourite destination for high-profile events.”

The ‘Designing 007: Fifty Years of Bond Style’ exhibition is a collaboration between the Barbican and EON Productions. The unique exhibition was curated by the Barbican, guest-curated by fashion historian Bronwyn Cosgrave and Oscar®-winning costume designer Lindy Hemming and designed by Ab Rogers who had unprecedented access to EON Production’s archive.

At ‘Designing 007: Fifty Years of Bond Style’ screen icons, costumes, production design, automobiles, gadgets, special effects, graphic design, exotic locations, weapons, stunts and props combine to immerse the audience in the creation and development of Bond style over its 50-year history.

The ‘Designing 007: Fifty Years of Bond Style’ exhibition is staged in Dubai by Colina Capital and Koutoulou Art+Events; it is brought to you by Visa in association with OSN. Ticket sales will begin from October 15, 2016.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, today marked the groundbreaking of The Tower at Dubai Creek Harbour, the brand-new icon that will be the world’s tallest tower when completed in 2020.

The groundbreaking was held in the presence of His Excellency Mohammad Al Gergawi, Chairman of Dubai Holding, Mr Mohamed Alabbar, Chairman of Emaar Properties, and other dignitaries. Providing stunning 360 degree views of the city and beyond, the Tower strengthens the UAE’s reputation for innovation and excellence in architecture, engineering and construction and will eclipse even Burj Khalifa as the tallest building in the world.

Re-defining the nation’s already spectacular skyline and setting a new global referral point, The Tower anchors the 6 sq km Dubai Creek Harbour mega-development, located just 10 minutes from the Dubai International Airport, and will serve as a magnet for tourists and visitors from around the world.

One of the world’s largest master-planned developments, Dubai Creek Harbour integrates the latest design, engineering and sustainability features. A next-generation smart hub, it will also incorporate an advanced digital lifestyle defined by the latest developments in artificial intelligence.

The waterfront development, a joint venture between Emaar Properties and Dubai Holding, is located just off the Dubai Creek, the birthplace of Dubai’s history and culture, and in close proximity to the Ras Al Khor National Wildlife Sanctuary, protected under the UNESCO Ramsar Convention. The Tower is designed by Spanish/Swiss architect and engineer Santiago Calatrava Valls.

HE Mohammad Al Gergawi said: “The Tower at Dubai Creek Harbour, which will be the tallest in the world, represents a new phase in the development vision of HH Sheikh Mohammed whereby His Highness will present to the world a new icon and to humanity a higher point in its development, adding to our national pride in our path-breaking achievements.

“The Tower is one of the outcomes of the strategic partnership between Dubai Holding and Emaar Properties which is closely followed by HH Sheikh Mohammed. It reflects the vision of His Highness to further strengthen the tourism sector, persify our economy and reinforce the sound economic stature of the UAE globally. The Tower is part of a smart city development, providing a new and distinguished lifestyle, and will be completed by 2020 along with a number of strategic and pioneering projects that are being undertaken here, setting global benchmarks.”

HE Al Gergawi added: “The groundbreaking of The Tower is another historic moment for the UAE, as we mark the construction of another icon that will add to the UAE’s civic pride. At the heart of Dubai Creek Harbour, the super-tall structure will create lasting value and serve as one of the must-visit tourist destinations in the city.

“It celebrates the long-term vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, underlined by the recently announced ‘UAE Strategy for the Future’ to drive the transformational growth of the nation. Our focus is on identifying the needs of the future, and implement sustainable plans that are impactful and make a difference. Dubai Creek Harbour is our investment in our future, and as a centrepoint of this mega-development, The Tower will enhance the reputation of our city and help boost the growth of the economy.”

Mr Mohamed Alabbar, Chairman of Emaar Properties, said: “We are thankful to His Highness Sheikh Mohammed bin Rashid Al Maktoum for his generous guidance and support in developing another global icon for Dubai. The Tower is inspired by his vision and his firm belief that in the race for excellence there is no finish-line. From Burj Al Arab, Emirates Towers, Burj Khalifa and now The Tower, Dubai has been the centre of innovation for supertall structures and breakthrough developments in design, architecture and engineering. We are pushing our boundaries in every aspect of this new master-planned development, one of the largest in the world, which underlines the spirit of positivity and hope that our nation celebrates. It will be a sterling addition to the smart city that HH Sheikh Mohammed envisages, with futuristic digital features that meet the aspirations of the next generation. We will continue to push the frontiers of engineering and construction to complete the project in time for Expo 2020 Dubai.”

The Tower at Dubai Creek Harbour supports the goals of Dubai Plan 2021 to establish the city as a global business and leisure hub, and will add real economic value by driving the growth of the core sectors of tourism, hospitality, aviation and retail among others.

Mr Santiago Calatrava Valls said: “The design and architectural features of The Tower demand unique engineering approaches that are currently being implemented on site. Extensive studies were undertaken in preparation for the ground-breaking, and the learning that we have gained from the experience will add to the knowledge base of mankind.”

With no similar super-tall structures in the world, Emaar has undertaken a completely new approach to wind-engineering and seismic tests, which have already been completed. Every aspect of The Tower is designed to the highest international standards of safety – from the choice of materials to the technology being deployed in its construction.

The crowning glory of The Tower at Dubai Creek Harbour will be The Pinnacle Room, opening to spectacular views of the city, as well as several VIP Observation Garden Decks. The Tower will have dynamic illumination and movement lighting, which will make it a stunning visual landmark during the day and night. In addition, several ‘green corridors’ will offer pedestrian access and effortless connectivity with Dubai Creek Harbour.

Emaar has unveiled high-end residences in Dubai Creek Harbour, including Dubai Creek Residences, Creekside 18, Harbour Views and Creek Horizon in The Island District. With uninterrupted views of The Tower, the homes open to premium vistas of the Dubai Creek, a stylish marina with a yacht club, the adjacent Ras Al Khor bird sanctuary and the skyline of Downtown Dubai. The 4.5km-long Creek Boardwalk envelopes the Island District, assuring residents high-end retail and leisure choices. Among the nearby amenities are event spaces, galleries, parks, fascinating water features and a trendy Vida hotel that will all add up to an unsurpassed quality of life.

Emaar Hospitality Group, the hospitality & leisure business of global developer Emaar Properties, today unveiled the first and only beachfront resort property under its flagship Address hotel brand in Dubai – The Address Jumeirah Resort + Spa, The Address Residences Jumeirah Resort + Spa and The Residences Jumeirah Dubai, Managed by The Address.

The Address Hotels + Resorts will manage the 182 room hotel, serviced residences and residential apartments in the spectacularly designed towers. At a height of over 290 metres, the majestic development, with a shimmering façade opening to the Arabian Sea, is located at the end of the Jumeirah Beach Residences in Dubai Marina. Offering an unbeatable value proposition and exceptional lifestyle choice, the thoughtfully designed residences and serviced apartments will open for sale shortly.

Appealing to both leisure and corporate travellers, The Address Jumeirah Resort + Spa is set apart by its distinctive location overlooking the Ain Dubai (Dubai Eye) and with direct access to Sheikh Zayed Road. It celebrates a never-before lifestyle choice with attractions including a rooftop infinity pool, 100 metres of beach frontage and exclusive F&B concepts including a lounge at the highest level.

Chris Newman, Chief Operations Officer of Emaar Hospitality Group, said: “The Address Jumeirah Resort + Spa will be an astonishing development that will redefine the traditional concepts of beachfront hotels. It also underlines our focus on growing as a management company through long-term contracts. While the new property’s imposing architecture will be a key draw for visitors, the proven standards of service defined by The Address Hotels + Resorts will make it a destination of choice for corporate and leisure visitors from around the world. The unparalleled views from the hotel and serviced residences, and the wide range of leisure and wellness pursuits will differentiate the property from the rest.”

Pristine Location

The Address Jumeriah Resort + Spa sits on the beach by the Arabian Sea and is next-door to The Beach with a wide assortment of high-end retail and F&B choices. Set in over 19,690 sq metres of prime property, the hotel and serviced residences will appeal to world travellers and discerning guests seeking vibrant social experiences in one of the most desirable destinations in Dubai. The property is effortlessly accessible from both Sheikh Zayed Road and Jumeirah Beach Road.

Architectural Marvel

The shimmering façade of The Address Jumeirah Resort + Spa gives a distinctive identity to the elegantly designed development. With a distinctive ‘white space’ carved out in the centre to maximise sunlight and views, the building functions as two towers with separate cores. They are connected at the base, which serves as a welcoming lobby, and at the top for penthouses and sky-lofts in addition to rooftop infinity pool opening to uninterrupted views of the sea. One tower is dedicated to the hotel and serviced residences and the other tower has the residential apartments.

Aesthetic Layout

The landscape of The Address Jumeirah Resort + Spa is broken down into terraces of greenery, outdoor lounges, restaurants and pools that cascade into each other. Pools are separated into Adult and Kids with some of them dedicated to hotel guests and others for residents. A series of grand stairways on the terraces allows visitors to walk from the beach up to the lobby level without going into the building creating a relaxed resort experience.

Inviting Interiors

Taking design cues from its location, the interiors are warm, inviting, radiating, contemporary and elegant, drawing on earth-tone colours. The hotel rooms and residences are spacious, and with distinctive spaces for working, grooming, relaxing and refreshing. All of them are fitted with high-quality fixtures and state-of-the-art entertainment and telecom connectivity.

F&B Choices

The Address Jumeirah Resort + Spa will have five F&B concepts including a lobby lounge, all-day dining restaurant, signature restaurant, beach grille and destination lounge at the rooftop. The all-day dining outlet will be connected to a pool, while the destination lounge will have a variety of seating and socialising areas.

The Spa at The Address

The Spa at The Address will be a non-traditional and luxurious experience focused in stimulating the senses of guests. The signature full-service spa will allocate several relaxation facilities, while the fitness centre will be a 24/7 concept with the latest, state-of-the-art equipment.

World-class events venues

The Address Jumeirah Resort + Spa is set to be venue of choice for social and business events. Expansive windows featuring great views of the beach will enhance the appeal of the spaces that will include dedicated board rooms and ballrooms – all with advanced technology.

The Address Hotels + Resorts is the first hotel brand launched by Emaar Hospitality Group. The premium luxury lifestyle brand has four operational hotels and two serviced residences in Dubai with five other hotels and six serviced residences currently being developed in the UAE. The Address Boulevard Dubai, the first Address hotel to open in seven years, will welcome its first guests shortly.

The Address Hotels + Resorts has also marked its entry into international markets through three hotels and four serviced residences in Turkey, Bahrain and Egypt.

Through its three hotel brands – The Address Hotels + Resorts, Vida Hotels and Resorts and Rove Hotels, Emaar Hospitality Group today operates seven hotels and two serviced residences in Dubai. The company has a strong roster of 18 upcoming hotels and 16 serviced residences in the UAE – in Dubai and Fujairah – as well as in international markets including Egypt, Bahrain, Turkey and Saudi Arabia.

Dubai, UAE; September 5, 2016: Global developer Emaar Properties PJSC today announced Emaar South its newest mega-development in Dubai South, one of the city’s most sought-after destinations of the future, just minutes from the Al Maktoum International Airport and in easy proximity to the Expo 2020 Dubai site. A dedicated golf district, the nearly 7 sq km Emaar South mega-development is one of the key components of the newly planned city.

Emaar South will be a vibrant residential and suburban lifestyle destination, serving as home to hundreds of thousands of people expected to work in the various integrated districts of Dubai South, greater Dubai area, and in close proximity to Abu Dhabi. With the 145 sq km airport city quickly taking shape, the demand for residences in Dubai South is expected to spike, which will be met by Emaar South.

In addition to people working at the Al Maktoum International Airport, Aviation District and Logistics District, Emaar South will also be a magnet for the 25 million visitors who will attend Expo 2020 Dubai, and for the millions of travellers who will fly by Al Maktoum International Airport. The airport is billed to welcome 220 million passengers annually – making it the worlds’ largest when fully completed. The current expansion will expand capacity to 26.5 million travellers annually by 2017.

Mohamed Alabbar, Chairman of Emaar Properties, said: “Emaar South is a thoughtfully planned project set in Dubai South, a purpose-built integrated urban city destination that creates a vibrant new economic platform centred on aviation and logistics services. It supports the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, to position Dubai as a smart, integrated and connected city with a wide breadth of residential choices that caters to everyone’s needs.”

He added: “The opportunities created by Dubai South will be complemented by Emaar’s new golf-course district. Through Emaar South, we are creating another world-class integrated community that is smart and sustainable, and will generate long-term economic value. We are assigning the best-in-class designers, architects and consultants for this new residential city.”

His Excellency Khalifa Al Zaffin, Executive Chairman, Dubai Aviation City Corporation and Dubai South, said: “We are happy to partner with Emaar, the region’s leading real estate developer. This association reflects the depth of our commitment to establish Dubai South as the premier destination to live, work and invest. A fully integrated, master planned city created to provide life solutions for its residents, our residential communities and real estate offerings will set a new standard in urban living.

“With Emaar’s credentials of developing integrated communities and iconic projects, the synergies between Dubai South and Emaar are a well-made match that serves to fulfill our offering of providing value-added residential products across varied price points and addressing a wider demographic.”

A Smart, Green District

Featuring more than 15,000 residences, in a mix of tiered townhomes, townhouses, villas and apartments, Emaar South is envisaged as a smart neighbourhood. In addition to being home to thousands of people, it will create several hundred new jobs in the hospitality, retail and leisure sectors.

Interconnected through tree-lined boulevards, walking & bicycle trails, and a well-linked public transport network including autonomous vehicles for clean transport, Emaar South will feature six districts anchored by an 18-hole championship golf course & clubhouse, a number of large community parks, dedicated retail precincts, 3 & 4 star hotels assuring contemporary guest experiences, and a number of fascinating outdoor pursuits. Every aspect of the development is centred on the concept of open spaces that serve as the connective element.

Other amenities that are incorporated in the masterplan include a K-12 educational institution by a premier provider and a golf villa recreational centre. Promising an urban lifestyle at a suburban pace, the new master-planned community by Emaar is designed by the guiding principles of connectivity, accessibility, livability, sustainability and optimal residential density. The golf course has been skillfully designed to maximise golf frontage views from the villas, which includes luxury homes set in the heart of the golf course.

First-look at Cityscape Global

A model of Emaar South is displayed at Emaar’s pavilion in Cityscape Global 2016 marking its first public preview. To be developed in four phases, the first phase will include tiered townhomes, villas, townhouses and apartments in addition to retail precincts. The first homes in Emaar South will be announced shortly offering investors the first opportunity to be part of this world-class development.

For more details, visit: www.emaar.com or visit Emaar’s pavilion at Hall No. 01 at Cityscape Global.

Emaar Properties has placed Dubai center stage in the fast-growing global arts industry with the pre-opening of its premier cultural destination, the multi-format Dubai Opera in Downtown Dubai, which hosted a sold-out concert by legendary Spanish tenor Placido Domingo last night.

Mohamed Alabbar, Chairman of Emaar Properties, said that Emaar has invested AED 1.2 billion (about US$330 million) to develop Dubai Opera, which will bring rich cultural and economic pidends to the city. Dubai Opera will mark its grand inauguration later this year with many new fascinating attractions including a specially commissioned public realm art and several lifestyle choices.

“Dubai Opera is our tribute to the positivity and vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, to firmly underline our city as a vibrant global cultural hub that attracts talent from around the world,” said Alabbar.

“Great performing art venues are cultural catalysts,” said Alabbar. “They increase the sense of collective identity, connect people to build social capital, strengthen the values of persity and tolerance, encourage members to participate in the arts, and promote neighbourhood cultural persity.

“With the opening of Dubai Opera, the city is now uniquely positioned to gain significant socio-economic benefits that once again highlight Emaar’s lasting contribution to the city’s economy,” he said.

“The iconic Dubai Opera complements the Dubai Tourism Vision announced by His Highness to welcome over 20 million annual visitors by the turn of the decade, and supports the cultural ambitions of Expo 2020 Dubai, which is expected to host over 25 million visitors. It also fulfils the central pillar of the Dubai Plan 2021 to build a city of happy, creative and empowered people by providing rich cultural experiences,” Alabbar added.

With Dubai fast becoming a global arts hub with a remarkable increase in the number of art galleries and arts events, Dubai Opera will catalyse the growth of the creative industries in the city, said Alabbar.

Huge Cultural and Economic pidends from Dubai Opera

Alabbar says Dubai Opera is similarly creating a vibrant growth engine for the Dubai economy. A part of the US$20 billion Downtown Dubai mega-development, which is already the world’s most-visited by welcoming an annual average 80 million visitors, Dubai Opera’s impact is defined by two pidends: Cultural and Economic.

“The performances hosted by Dubai Opera generates a huge cultural pidend for Dubai by positioning it as one of the global hubs for the performing arts industry,” said Alabbar. “The pidends are direct and indirect – the first from the benefits associated with hosting world-class events, and the second as a result of the various economic activities that support the event.”

He said that Dubai Opera’s cultural pidend is also earned by providing a platform for the next generation of talent in Dubai and assuring a world-class venue for locally produced shows.

“The economic pidend of Dubai Opera is far-reaching,” said Alabbar. “Cultural events are a stimulus for tourism and in turn contributing to the aviation, hospitality and allied sectors. With its year-round calendar of high profile events by world-class performers, Dubai Opera will further attract visitors to Downtown Dubai, which has already delivered on its promise as ‘The Centre of Now.’”

Typically, the economic value of Dubai Opera will come from four channels, explained Alabbar. “The first channel is revenues from the performances and from F&B and other retail at the precinct; and the second are revenues from tourism – resulting from visitors travelling into Dubai to watch the shows.”

Aviation, hospitality and retail outside the venue comprise the third revenue stream; while the fourth is the local cultural ecosystem of local production houses and support agencies that create thousands of new jobs for creative professionals.

Legends such as Placido Domingo serve as magnets for cultural tourists with fans travelling wherever he goes. Cultural tourism is today one of the fastest-growing areas of global tourism. It is estimated that cultural or heritage activity is the sole purpose of nearly one in five European tourists, while culture forms a key feature of the trip of 80 per cent of US travelers.

Creative industries as growth catalyst

Today, creative industries are seen as powerful growth drivers for economies the world over. Large-scale cultural productions account for 4.5 percent of Europe’s GDP and 8 per cent of its employment.

A 2015 report by the Bureau of Economic Analysis states that creative industries in the US contribute US$698 billion to the national economy and provide jobs to more than 4.7 million people. In the UK, the creative scene that includes film, television and music is estimated to be worth US$116.7 billion per year in terms of contribution to the national economy.

At the micro level, inpidual creative enterprises have recorded invaluable economic impact. A report by Deloitte states that the Sydney Opera House contributes US$775 million to the nation’s economy every year, and has generated 8,439 full-time jobs. The study says that it has a cultural and iconic value of US$4.6 billion, with over 1.4 million annual visitors with nearly 2,000 performances.

Many cities today regard cultural policy as economic policy. For example, the Pennsylvania Cultural Data Project, analysing the impact of the cultural sector of Philadelphia, identifies that arts, culture and creativity are an economic engine generating US$3.3 billion in jobs, household income and tax revenue.

An architectural masterpiece featuring a dynamic façade inspired by The Dubai FountainHomes open to spectacular views of Burj Khalifa and Mohammed bin Rashid BoulevardExclusive launch of exceptionally designed homes in London on August 10 and in Dubai on August 11
Live next door to the most culturally vibrant destination in the city with Emaar Properties today unveiling an exclusive collection of residences located adjacent to the stately Dubai Opera, the iconic centerpiece of The Opera District in Downtown Dubai.

The all-new ‘Act One | Act Two’ residences are seated in exceptionally designed 52- and 46-storey towers that take their façade design cues from the rhythmic sway of The Dubai Fountain. The homes open to spectacular views of Burj Khalifa and the bustling Mohammed bin Rashid Boulevard.

Residents will have the unbeatable lifestyle of being close to Dubai’s never-before multi-format venue for performing arts, concerts, theatre, operas, art exhibitions, film events and more. They are also in walking distance of The Dubai Mall, the world’s largest retail and entertainment destination. Scheduled to open soon, Dubai Opera will be a magnet for arts and cultural enthusiasts from across the world, who will be drawn to its amazing repertoire of year-round events.

Act One | Act Two will be launched internationally with a dedicated sales event in London on Wednesday, August 10, at Harrods followed by the Dubai launch on Thursday, August 11, 2016 at the Emaar Sales Centres.

Apply named to capture the dynamism of living right where all the action is, Act One | Act Two feature just 718 residential units including one, two, and three-bedrooms, and a limited collection of penthouses located on the highest two levels. A dedicated promenade opens to the majestic view of the Dubai Opera with high-end retail and exclusive cafes, and rich amenities including a health club, spa, infinity pools and swimming pools are a part of the Act One | Act Two lifestyle.

Ahmad Al Matrooshi, Managing Director of Emaar Properties, said: “Act One | Act Two are truly a defining destination of choice for all culturally inclined as they now have the unique value proposition of living right next door to Dubai Opera. A premium development that celebrates the vibrant cultural lifestyle of the city, the residences bring a one-of-a-kind lifestyle choice to the city. The international launch of the project underlines the strong demand from discerning investors who cherish the inspired way of life that Act One | Act Two brings.”

Act One | Act Two design is unparalleled in Dubai with the façade featuring a horizontal and vertical stepping, each creating stunning views of Burj Khalifa and The Dubai Fountain. A podium connection to Burj Khalifa is the highlight with majestic vistas of the tower emerging as they pass beneath the podium on foot. A variety of swirling roof terraces and balconies not only lend an architectural flourish to the project but also assure unmatched views, more so from the L-shaped terraces of the penthouses.

The launch follows the earlier investor interest to the Dubai Grand and Forte residences in The Opera District, a stylish cultural destination that features luxury hotels, elegantly designed homes, a retail plaza, waterfront promenades and parks. The 2,000-seat multi-format Dubai Opera is as iconic in appearance as the Sydney Opera House, and takes design cues from the classic wooden dhows.

In addition to the spacious, well-lit design of the residences, Act One | Act have world-class fixtures and a wide range of services including 24-hour concierge and security. The homes will usher in a remarkable lifestyle for residents who will live in the most-happening destination in the city – Downtown Dubai.

For more details, please contact: please contact +9714 366 1688 (International) or 800 36227 (UAE), or email: Sales_Enquiry@emaar.ae.

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

Revenue for the first six months of 2016 is AED 7.257 billion (US$ 1.976 billion), 11% higher than same period in 2015Recurring revenue from shopping malls & retail and hospitality & leisure at AED 2.916 billion (US$ 794 million), 40% of the total revenueProperty sales in Dubai at AED 8.854 billion (US$ 2.411 billion), 45% higher than same period in 2015, highlighting strong investor demand for Emaar’s iconic developmentsLaunch of The Tower in Dubai Creek Harbour marks a new milestone in development strategy of EmaarSecond half of 2016 to be defined by opening of Dubai Opera and ongoing expansion of The Dubai Mall as well as launch of new masterplannned developments
Dubai, UAE; July 31, 2016: Global developer Emaar Properties recorded a robust increase of 12 percent in net profit to AED 2.475 billion (US$ 674 million) in the first six months (January to June) of 2016, compared to the net profit of AED 2.205 billion (US$ 600 million) during the same period last year. The half-year 2016 revenue is AED 7.257 billion (US$ 1.976 billion), 11 percent higher than the H1 2015 revenue of AED 6.520 billion (US$ 1.775 billion).

Underlining the strength of its diversified business model, Emaar’s recurring revenues from its malls & retail and hospitality & leisure segments recorded an impressive AED 2.916 billion (US$ 794 million), which is 40 percent of the total H1 2016 revenue, and in line with the cumulative revenue from these businesses during H1 2015 at AED 2.900 billion (US$ 790 million) despite the ongoing development of The Address Downtown Dubai.

Cementing the success of its international expansion, revenues from Emaar’s global operations were AED 1.032 billion (US$ 281 million) during H1 2016. The global operations now account for 14 percent of the total revenue.

Emaar recorded total sales at AED 10.44 billion (US$ 2.842 billion) during the first half of 2016 and now has a formidable backlog of AED 45.90 billion (US$ 12.50 billion), to be recognised over the next 3 to 4 years, highlighting its fundamentals for long-term profitability.

Strong fundamentals

Mohamed Alabbar, Chairman of Emaar Properties, said that the strong half-year results highlight the success of Emaar’s growth strategy to consolidate its position as the largest developer of iconic projects in Dubai with a sizeable sales backlog, and to build its recurring revenues.

“We are in one of the most exciting phases of our growth story having launched a brand-new icon for the city – The Tower at Dubai Creek Harbour – and the imminent roll-out of Dubai Opera in Downtown Dubai. We are scaling up our malls business with the launch of a Retail District in Dubai Creek Harbour and the expansion of The Dubai Mall. We are also strengthening our hospitality portfolio with 35 new hotels and serviced residences in the UAE and international markets.”

He added: “Our commitment is to create long-term value for our stakeholders, and in this, we are inspired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, to challenge ourselves and push our boundaries. We will continue to explore opportunities to develop new land banks in Dubai through integrated developments that support the Dubai Plan 2021 and the preparations for Expo 2020.”

Positive Second-Quarter 2016

In the second-quarter (April to June) of 2016, Emaar sustained its growth trend with net profit at AED 1.270 billion (US$ 346 million), an increase of 8 percent over the profit during same period in 2015 of AED 1.179 billion (US$ 321 million).

Revenue for Q2 2016 stands at AED 3.728 billion (US$ 1.015 billion), which is higher by 7 percent compared to the Q2 2015 revenue of AED 3.496 billion (US$ 952 million). This was result of Emaar’s focus on on-scheduled construction progress and the achievement of new milestones that contributed to higher revenue recognition.

During Q2 2016, revenue from shopping malls & retail and hospitality & leisure businesses were AED 1.361 billion (US$ 371 million). International revenues in Q2 2016 were also healthy at AED 533 million (US$ 145 million), up by 7 percent compared to the Q1 2016 revenue from global operations at AED 499 million (US$ 136 million).

First choice for homes

Emaar’s property business recorded positive growth during H1 2016 with revenue of AED 4.341 billion (US$ 1.182 billion), which is 20 percent higher than the property business revenue during H1 2015 at AED 3.620 billion (US$ 986 million).

The total property sales for H1 2016 is at AED 10.44 billion (US$ 2.842 billion), an increase of 23 percent over H1 2015 of which AED 8.854 billion (US$ 2.411 billion) of sales is in Dubai, 45 percent higher than the property sales in Dubai during the first six months of 2015.

The Dubai sales were led by the launch of The Address Residences Dubai Opera & Il Primo in Downtown Dubai, premium Fairway Vistas & Sidra villas in Dubai Hills Estate, 52/42 prime waterfront development in Dubai Marina and Harbour Views at Dubai Creek Harbour. Demand for homes in Dubai Creek Harbour spiked with the launch of The Tower.

Growing recurring revenues

Emaar Malls (DFM: EMAARMALLS), the shopping malls and retail business majority-owned by Emaar Properties, reported H1 2016 net profit of AED 987 million (US$ 269 million), 17 percent higher than the net profit of AED 845 million (US$ 230 million) during the same period last year.

Revenue for H1 2016 from the malls business is AED 1.618 billion (US$ 441 million), 11 percent higher than the H1 2015 revenue of AED 1.452 billion (US$ 395 million).

The hospitality & leisure, commercial leasing and entertainment businesses recorded H1 2016 revenue of AED 1.298 billion (US$ 353 million).

Occupancy levels at The Address Hotels + Resorts were 86 percent, higher than the industry average. The Address Boulevard Dubai, a brand new addition to the portfolio will open soon. Emaar launched the first mid-market brand hotel – the Rove Downtown Dubai – this year with nine more Rove hotels scheduled to open in central locations by 2020.

Value for stakeholders

Emaar has been upgraded to Baa3 long-term issuer rating by Moody’s Investor Service with ‘stable’ outlook highlighting its financial strength and ability to create sustained shareholder value through its ongoing projects and assured recurring revenues from its malls and hospitality businesses.

Demonstrating strong value creation, Emaar and Emaar Malls together distributed over AED 2.375 billion (US$ 647 million) in dividends this year. Emaar has handed over more than 40,600 homes already, and has over 14,000 residential units in development in the UAE. With total assets valued at over AED 165.7 billion (US$ 45.1 billion), Emaar has a land bank of 196 million sq m in UAE and international markets that will support its long-term growth.

H1 2016 revenue gains 11% over H1 2015 to AED 1.618 billion (US$ 441 million)Q2 2016 net profit is 11% higher and revenue is 9% higher than Q2 2015The Dubai Mall’s Fashion Avenue and Zabeel expansion progressing as per schedule; new Retail District to be developed in Dubai Creek Harbour; mall and community areas to feature in Dubai Hills Estate
Dubai, UAE; July 27, 2016: Emaar Malls (DFM: EMAARMALLS), the shopping malls and retail business majority-owned by global property developer Emaar Properties (DFM: EMAAR), has reported first-half (January to June) 2016 net profit of AED 987 million (US$ 269 million), 17 percent higher than the net profit of AED 845 million (US$ 230 million) during the same period last year.

Revenue for the H1 2016 is AED 1.618 billion (US$ 441 million), 11 percent higher than the H1 2015 revenue of AED 1.452 billion (US$ 395 million).

Sustaining the growth momentum set, Emaar Malls recorded a net profit of AED 458 million (US$ 125 million) during the second-quarter (April to June) of 2016, an 11 percent growth over the same period last year at AED 412 million (US$ 112 million).

Revenue too recorded sustained growth during Q2 2016 at AED 785 million (US$ 214 million), an increase of 9 percent over Q2 2015 revenue of AED 721 million (US$ 196 million).

Mohamed Alabbar, Chairman of Emaar Malls, said: “Our exceptional portfolio of malls assets has redefined Dubai’s retail sector and contributes significantly to the city’s economy. Our focus has been to offer unprecedented retail choices for our visitors in truly world-class environments. Emaar Malls assets serve as a magnet for visitors from across the world, especially high net worth individuals who now regard Dubai as their go-to destination for luxury retail.

“We are now taking the growth of Emaar Malls to the next level to create long-term value for our stakeholders through the ambitious new Retail District in Dubai Creek Harbour, which will be linked directly to the iconic tower that will welcome visitors from around the world.”

He added: “The robust growth of Emaar Malls during the first-half of the year highlight Dubai’s premier position as a global hub for luxury retail and world-class leisure attractions led by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai. We will continue to build on this momentum, and support the city’s core sectors of tourism and hospitality through innovative and creative approaches to strengthen our malls business.”

Overall gross leasable area (GLA) occupancy across the assets of Emaar Malls remained 96 percent during the first half of 2016, similar to the previous year. Emaar Malls has distributed a cash dividend of 10 percent of the share capital, equivalent to AED 1.3 billion (US$ 354 million), setting a new benchmark in value creation for the company’s shareholders. In addition to the new Retail District in the Dubai Creek Harbour Emaar Malls is expanding The Dubai Mall’s Fashion Avenue by 1 million sq ft built up area to deliver over 600,000 sq ft gross leasable area, in addition to plans for the mall’s Boulevard expansion, Fountain Views and Zabeel expansions.

Dubai Hills Estate, the 11 million sq. m master-planned community easily accessible from Mohammed bin Zayed and Sheikh Zayed Road, will also feature a centrally located mall and community retail areas as well as a boutique mall for high-end brands.

Emaar Malls is also developing the Springs Village with over 245,000 sq ft gross leasable area in addition to expanding its community malls brand, ‘The Souk.’ The first under the portfolio – The Ranches Souk in Arabian Ranches II – is today a thriving community retail centre. ‘The Souk’ is being rolled out across its existing assets including The Meadows and The Springs and future community malls projects.

Emaar Properties, the global developer, today announced the successful completion of advanced wind tunnel tests to confirm the structural strength and durability of the iconic new tower in Dubai Creek Harbour, which will define a brand-new skyline for the city.

This marks another milestone in the development of The Tower at Dubai Creek Harbour, designed by Spanish-Swiss architect Santiago Calatrava, and located in the heart of the 6 sq km master-planned community set by the historic Dubai Creek and only 10 minutes from the Dubai International Airport.

The smart city of the future is also next-door to the Ras Al Khor Wildlife Sanctuary, protected under the UNESCO Ramsar Convention and home to over 67 species of water birds, thus defining a unique residential destination that offers unprecedented and long-term value.

Leveraging its unmatched expertise in high-rise development, Emaar Properties had commissioned a comprehensive array of never-before wind tunnel tests for The Tower at Dubai Creek Harbour, which will feature world-class observation decks, luxury accommodation and retail attractions. With wind being a major challenge in the development of high-rises, especially at very high altitudes, these tests are crucial in defining the final height and design aspects.

The successful completion of the wind tunnel tests as well as a comprehensive range of seismic and local climate studies lends further momentum to The Tower’s development to the highest standards of quality and safety.

Mohamed Alabbar, Chairman of Emaar Properties, said: “An ambitious project on a never-before scale and design, The Tower at Dubai Creek Harbour demands high-precision engineering across all its facets. As a significant value addition to Dubai Creek Harbour, the tower is billed to attract visitors from across the world, and will serve as a beacon of hope and positivity for the city and the region. Pushing the boundaries in high-rise engineering even further, The Tower’s wind tunnel tests are an industry-first of sorts, underlining our commitment to uphold the highest standards of safety.”

Santiago Calatrava Valls said: “From the materials selection to the technology used, every aspect of The Tower has been designed and developed according to the strictest international safety standards. The wind tunnel tests were an important component in the structural design stage, and we have deployed innovative engineering techniques to confirm the strength of the new icon.”

For the wind tunnel testing of The Tower at Dubai Creek Harbour, up to 12 different analysis and testing methods were used to ensure that all possible cases are considered, guaranteeing the maximum quality and safety of the structure.

These tests are made for the entirety of the project with a full scaled model, and also on different sections of the project to double-check the behaviour of the building and the wind around it. Since the structure is anchored to the ground with robust cables, some of these tests are innovative and were developed for the first time in this field. Two independent and leading agencies in the world undertake the wind tunnel testing.

Additionally, the rigorous wind climate study of the area covered measurements at different heights including data provided by the weather stations. Different seismic studies were also considered and applied specifically to local ground conditions. To guarantee the maximum safety and stability of the building, the design of The Tower also includes multiple damper systems and shock absorption systems, located at different points and heights.

Offering unprecedented experiences for 360 degree views of the city and beyond, The Tower will feature The Pinnacle Room opening to grand views of the sky, and VIP Observation Garden Decks that recreate the splendour of the ‘Hanging Gardens of Babylon,’ one of the Seven Wonders of the Ancient World. Fully glazed rotating balconies extend outward, rotating outside the skin of the tower. The Tower will be in close proximity to a Retail District, one of the largest in the world.

Emaar has unveiled high-end residences in Dubai Creek Harbour including Dubai Creek Residences, Creekside 18, and Harbour Views homes in The Island District, a vibrant lifestyle hub. All homes open to spectacular views. A bustling 4.5 km Creek Boardwalk envelopes the development’s Island District, assuring residents unbeatable lifestyle choices. Among the nearby amenities are event spaces, galleries, fascinating water features and a trendy Vida Hotel that all add to the quality of life.

Emaar Entertainment, the leisure and entertainment subsidiary of Emaar Properties, and Discovery Consumer Products, the licensing arm of Discovery Communications, announced today the next phase of their partnership with the opening of the first-of-its-kind ‘Discovery Channel Shark Week’ exhibit at Dubai Aquarium & Underwater Zoo, in association with OSN, the region’s leading pay-TV network.

An embodiment of television’s longest running must-see summer TV event, this sensational addition to Dubai Aquarium & Underwater Zoo is the world’s first official ‘Discovery Channel Shark Week’ exhibit. The new exhibition brings the iconic TV franchise to life, providing guests glimpses into the fascinating world of sharks through a truly innovative and interactive experience.

Paul Hamilton, General Manager and Curator of Dubai Aquarium & Underwater Zoo, said: “At Dubai Aquarium & Underwater Zoo, we’re passionate about educating the public on these incredible and often misunderstood creatures. The ‘Discovery Channel Shark Week’ exhibit invites visitors into the incredible world of sharks in a truly innovative way that both educates and entertains. The new exhibition is a key facet of our commitment to shark conservation along with our other initiatives such as the shark artificial insemination programme we inaugurated in 2015.”

“Celebrating its 28th anniversary year, Shark Week is arguably one of Discovery Channel’s most iconic and talked-about programme franchises. For years Shark Week has sought to show a different side of these mysterious creatures and educate audiences about their natural behaviours and habitats. Through this latest phase of our partnership with Emaar Entertainment, we can now take this commitment a step further, with the creation of an innovative and interactive exhibition that will bring the entertaining and educational aspects of Shark Week to life for our MENA audiences like never before,” said Amanda Turnbull, VP Country Manager, Discovery Networks MENA.

Located through the second floor entrance to Dubai Aquarium & Underwater Zoo, the first stage of the customer journey takes place in the world’s first interactive digital shark cage. Situated under the hull of a research ship protruding from the wall of the Aquarium, the digital cage was designed exclusively by LG for the exhibit. The exterior of the digital cage features an awe-inspiring scene of Great White sharks circling a cage of pers.

On entering the cage guests will find themselves at the centre of the shark pe, watching as the Great Whites swim around them. Innovative technology allows guests to ‘interact’ with the sharks whilst simultaneously learning about their biology. Stay alert though, from time-to-time the on-screen sharks have a surprise in store for unsuspecting visitors!

The main exhibit is also a world-first, representing a unique and innovative new direction for aquariums. A beautiful hybrid of digital technology and a living aquarium, it consists of a 20 metre aquarium demi-tunnel, with the back wall of the tank formed of LG LED screens. Guests can choose their favourite shark species to swim on the LED background, bringing the heroes of Discovery Channel’s ‘Shark Week’ to life. Information panels are also set at intervals where guests can step off the journey and learn more about the incredible world of the shark.

Naturally the new exhibit sees Dubai Aquarium & Underwater Zoo welcome some exciting new residents to add to its perse aquatic population. Stars of the new ‘Discovery Channel Shark Week’ exhibition include the instantly-recognisable Scalloped Hammerhead Sharks as well as a number of other shark species including Sandbar Whalers, Blacktip Reef Sharks and Bonnethead Sharks. Joining the sharks are Devil Rays, a close relative of the Manta Ray with the eye-catching horns on its head – very few aquariums in the world house this animal.

To complement the launch of the ‘Discovery Channel Shark Week’ exhibit, Discovery Consumer Products and Dubai Aquarium & Underwater Zoo have also joined forces to produce a documentary. Following the construction of the exhibition which includes the transportation of its new inhabitants and detailing the aquarium’s and regions shark conservation projects, guests at Dubai Aquarium & Underwater Zoo will have the opportunity to watch a three-minute version of the film whilst at the exhibition, featuring all the key highlights. The full 60-minute version of the documentary will be aired on Discovery Channel later this year, only on OSN.

Discovery Channel’s ‘Shark Week’ is television’s longest running and most anticipated summer event, and this year it will be making an even bigger splash with all-new compelling and jaw-dropping shark stories and shark technology. From August 28, viewers across the Middle East can learn remarkable new insights into these magnificent creatures, through a number of in-depth documentary specials that will also draw attention to the threats currently facing sharks around the world. Catch all of the gripping action only on Discovery Channel, exclusively on OSN channel 500 and OSN Play.

OSN recently launched two high-definition channels – Discovery Family HD and IDX HD – as part of its exclusive and long-term partnership with Discovery. They join Discovery Channel HD, TLC HD, Discovery Science HD and Animal Planet HD, among others, opening doors for viewers to the marvels of nature and science.

Dubai Aquarium & Underwater Zoo is an integral part of Emaar Entertainment’s perse portfolio of attractions. Located strategically in the heart of The Dubai Mall, Dubai Aquarium is one of the largest indoor aquariums of its kind in the world, with the capacity to hold 10 million litres of water. Dubai Aquarium illuminates the marvels of the ocean floor, showcases one of the most perse collections of aquatic life worldwide and features a 270-degree walkthrough tunnel.

Underwater Zoo, located on Level 2 offers an interactive approach to educating guests of all ages on the ecology and sustainability of marine life. The experience consists of three ecological zones: Rainforest, Coastline and UAE Night Creatures, where a variety of aquatic animals are featured including Penguins, Crocodiles, Piranhas, Giant Spider Crabs, Water Rats, Sea Horses and Sea Jellies.

For further information, visit www.thedubaiaquarium.com or call 04 448 5200.