Category: Business Segments

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.

Emaar Entertainment, the premier provider of entertainment and leisure choices that educate and delight, will continue to inspire the next generation of filmmaking talent in the UAE through the second edition of its annual Future Filmmakers Summer Camp, hosted by Reel Cinemas.

Following on from the success of last year’s initiative, the summer camp will be held from July 24 to August 18 providing an authentic platform for children and teenagers to learn the art and technology of filmmaking by producing their own movies from script to screen.

Professionals from Murdoch University in Dubai will lead the Reel Cinemas Future Filmmakers Summer Camp. The course encompasses 4 – 5 classes per week, and modules include: An Introduction to Filmmaking; Story Creation; Storyboarding, Equipment and Lighting Operation; Directing Tips and Basic Editing Workshops. Nikon will be providing all necessary equipment for the participants as well as the prizes for some categories in addition to Nikon School sessions for the kids on the fundamentals of DSLR operations for film making.

At the end of the course, the short films produced will be evaluated by a distinguished jury and the top films will be screened at a gala ceremony in August. All the young filmmakers will be invited to walk the red carpet at the event, which is to be attended by VIPs and industry professionals, who will also present awards in various categories.

Reel Cinemas Future Filmmakers Summer Camp is also endorsed by Dubai Studio City and Dubai Film & TV Commission who will be sponsoring several talented young filmmakers to take part in the course.

Maitha Al Dossari, Chief Executive Officer of Emaar Entertainment LLC, said: “This year’s Reel Cinemas Future Filmmakers Summer Camp underlines Emaar Entertainment’s commitment to nurturing the talents of the next generation. Today, the UAE is at the forefront of the Arab world in driving the cinema industry with several ambitious initiatives and the nation is increasingly preferred as a favourite location for international film production. With the summer camp, we are encouraging and nurturing strong cinematic ambition among our young people; giving them the practical tools to unleash their creativity.”

Dan Adkins, Academic Director of Murdoch University Dubai and Chief Operating Officer of Global Institute Middle East added “We are happy to provide teachers for the Reel Cinemas Future Filmakers Summer Camp as we believe that children need opportunities to put their creativity to use and to experience the feeling of accomplishment in having produced their own creative work. It is our hope that this experience will spark a passion for the creative arts in the children and lead some of them to careers in the UAE’s rapidly growing creative industries.”

Commenting, Jamal Al Sharif, Chairman of Dubai Film and TV Commission (DFTC) and Managing Director of Dubai Studio City (DSC) said: “This project is a great opportunity for our young talents to learn more about the professional world of filmmaking through first-hand based learning in a creative atmosphere. This initiative promises to be an enjoyable experience for all students taking part and a significant step forward in their filmmaking journeys.”

The course is conducted Sunday to Thursday (timings vary day-to-day). The first three weeks of the film school will be taught at Reel Cinemas, The Dubai Mall; the final part of the course will be conducted at the Murdoch University Dubai campus in Dubai International Academic City.

The Reel Cinemas Summer Camp of Filmmaking is open for children and teenagers aged eight to 18, and is priced at AED 2,000 per participant for the three and a half week programme. The fee covers the course tuition, equipment loan, lunch and invitation to the awards ceremony.

To register for the Summer Camp, visit www.reelcinemasfilmmakers.com or Reel Cinemas box offices at Reel Cinemas, The Dubai Mall or Dubai Marina Mall.

Emaar Properties PJSC will mark the launch of an exclusive collection of elegantly designed homes in Dubai Hills Estate on July 14, 2016.

A green city within the city, the 11 million sq m Dubai Hills Estate is set to welcome its first residents later this year, ensuring that customers into the new mid-rise tower become part of a fully-established neighbourhood.

The first key launch this summer, the newly launched homes offer customers the opportunity to be part of a distinctive community highlighted by a central park, a championship golf course, a world-class mall, two lifestyle hotels, a bustling boulevard with modern cafes and restaurants, and over 45 km of trekking trails.

A joint venture with Meraas Holding, 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.

Only 147 residences, comprising 1, 2 and 3-bedroom apartments, are now offered for sale at the new tower in the Acacia at Dubai Hills Estate community. The homes offer panoramic views of the central park or the boulevard.

The lush-green neighbourhood adds to the harmony of living in a development that celebrates an outdoor lifestyle. All homes have high-quality finishes and residents will have access to world-class amenities including a championship golf course and tennis academy.

Ahmad Al Matrooshi, Managing Director of Emaar Properties, said: “We are launching the new mid-rise tower in Dubai Hills Estate, one of the highly sought-after communities just in time to meet the growing interest from international investors who travel to Dubai this summer, and for customers who wish to be part of a vibrant lifestyle neighbourhood.

“Dubai Hills Estate brings a unique value proposition to Dubai serving as a green oasis in the heart of the city, only minutes away from Downtown Dubai and other business centres. Families will be assured of a ‘wellness lifestyle’ at the new residences that also open to spectacular vistas of a central park.”

Marking the first phase of the Mohammed bin Rashid City, Dubai Hills Estate is highlighted by is the harmonious blend of modern lifestyle luxuries with an abundance of choices for active outdoor pursuits.

One of the largest master-planned communities in the city, Dubai Hills Estate will have a total green area of over 2.2 million sq m that includes the golf course, and a central park spreading over an area of about 180,000 sq m. The golf course alone occupies 1.29 million sq m, and overlooks Burj Khalifa and the Downtown Dubai skyline. Surrounding the golf course will be over 4,400 villas and townhouses and some 22,000 apartments.

The mega-development will also have a centrally located mall and community retail areas including a boutique mall for high-end brands, two world-class hotels, schools, tennis and sports centres, and a bustling boulevard of about 7 km with innovative leisure, retail and F&B choices.

Apart from the cycling tracks and walkways, Dubai Hills Estate aims to promote an environmentally sustainable lifestyle with effortless 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.

The new collection of residences will be launched at the Dubai Hills Estate Sales Centre and across Emaar Sales Centres on July 14 from 8:30am. 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. For more details on Acacia at Dubai Hills Estate, please contact +9714 366 1688 (International) or 800 36227 (UAE), or email: Sales_Enquiry@emaar.ae.

Over AED 2.375 billion (US$ 646 million) distributed in dividends this year by Emaar and Emaar MallsWith sales backlog of AED 28.3 billion to be recognised in the next 4 to 5 years in the UAE, Emaar has a development pipeline of about 13,000 residential unitsThe Tower at Dubai Creek Harbour, Emaar’s new iconic development, will further catalyse Dubai’s core economic sectors including tourism and retailThe Dubai Mall expansion, new Retail District in Dubai Creek Harbour and ongoing expansion of Emaar Hospitality Group assets drive recurring revenuesEmaar Hospitality Group is expanding its portfolio with 35 new hotels and serviced residences in the UAE and other global markets
Global developer Emaar Properties PJSC (DFM: 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.

Mohamed Alabbar, Chairman of Emaar Properties, said: “The upgraded ratings underline the strong financial fundamentals of the company and our focus on sustained value creation for our stakeholders. This year, Emaar and Emaar Malls together have distributed over AED 2.375 billion (US$ 646 million) in dividends, defining the significant value that we bring to our shareholders. We are continuing to build on our robust credentials with iconic projects that support the vision of HH Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President & Prime Minister and Ruler of Dubai, to establish the city as a global hub of business, tourism and leisure.”

He added: “Emaar has recorded significant growth in property sales in our core market of Dubai and other international markets. We have a total backlog in the UAE alone valued at AED 28.3 billion to be recognised over the next four to five years. Having delivered over 40,200 homes already, we have nearly 13,000 residential units in development in the UAE, defining a robust development pipeline. Our land bank of over 195 million sq m in Dubai and international markets supports our growth aspirations.”

He added: “The Dubai Creek Harbour development anchored by the iconic tower, the progress achieved on Dubai Hills Estate, the ongoing expansion of The Dubai Mall, and the opening of Dubai Opera this year – are all strong growth drivers for the company that create long-term value. This upgraded rating is a firm testament to the international investor confidence in our growth strategies and our ability to deliver on our promise.”

In its report, Moody’s stated: “We believe that Emaar’s market leadership position and balance sheet strength – in combination with stable recurring revenues and a sizeable property sales backlog – will support the company’s credit profile during the currently challenging market conditions and as it enters a phase of elevated capex ahead of the Dubai World Expo 2020.”

Among the headline developments of Emaar is The Tower at Dubai Creek Harbour, a new icon that will contribute significantly to the tourism and retail sectors of the city. It will also create outstanding value for the 6 sq km master-planned development similar to the strong value creation by Burj Khalifa for Downtown Dubai and the city as a whole.

Designed by renowned Spanish/Swiss neo-futuristic architect, structural engineer, sculptor and painter Santiago Calatrava Valls, The Tower serves as the vibrant core of Dubai Creek Harbour, which is two times the size of Downtown Dubai and located 10 minutes from the Dubai International Airport. It is billed to be the destination for the world to visit, enjoy and celebrate life, as Dubai prepares to host the Expo 2020.

Welcoming more than 124 million visitors across its malls assets in 2015 and over 31 million visitors during the first quarter of 2016, Emaar is expanding its portfolio with the launch of a dedicated Retail District in Dubai Creek Harbour that will be linked to the new tower that forms the vibrant heart of the development.

Emaar Malls has a gross leasable area of about 6 million sq ft. This is being expanded with the ongoing addition of another 1 million sq ft built-up area at The Dubai Mall’s Fashion Avenue to add another 150 leading international and local brands. These retail sector expansions will offer additional lifestyle choices for the 2.5 billion plus people, especially high net worth individuals, who are only four hours flying distance from Dubai.

Emaar Hospitality Group is also expanding its portfolio with 35 new hotels and serviced residences to open under its three flagship brands – The Address Hotels + Resorts, Vida Hotels and Resorts and Rove Hotels – in Dubai, the UAE and key international markets. In addition to opening of new properties in Dubai, the company has secured new management contracts to operate hotels and serviced residences in Fujairah in the UAE and Saudi Arabia. Emaar has also signed management contracts for upcoming hotels and serviced residences projects in Bahrain, Turkey and Egypt.

Emaar recorded first-quarter (January to March) 2016 net profit of AED 1.205 billion (US$ 328 million), an increase of 17 per cent compared to the same period last year. Led by significant progress in construction of its projects, Emaar’s Q1 2016 revenue was AED 3.529 billion (US$ 961 million), 17 per cent higher than the Q1 2015.

Emaar recorded Q1 2016 revenue of AED 1.974 billion (US$ 537 million) from its property business alone, 32 per cent higher than the same period in 2015. Overall sales value was AED 5.151 billion (US$ 1.402 billion) with the value of sales in Dubai at AED 4.194 billion (US$ 1.142 billion), 70 per cent higher than the first quarter of 2015.Today, Emaar has assets valued at over AED 165.7 billion (US$ 45.1 billion).

Burj Khalifa, the global icon by Emaar Properties, has introduced 12 advanced telescopes at its observation decks on Level 124 and Level 125 that will offer unmatched panoramic views of the city and beyond to visitors.

The newly introduced telescopes feature full HD camera with high zoom and are being introduced in any observatory across the world for the first time. With deep zoom functionality, they offer giga-panoramic views during day or night. With a multi-touch 22 inch high-end ruggedized screen, the views are unmatched with several astonishing new features to be added on shortly.

Six of the new telescopes are stationed on Level 124 as part of the At the Top, Burj Khalifa experience. The other six are on Level 125, a part of the two-phase At the Top, Burj Khalifa SKY journey that takes visitors through Level 125 and Level 148, at the impressive height of 555 metres – which holds the Guinness World Record for the highest observation deck.

Level 125 also features signature Viewfinders enabling them to explore the city in vivid details. ‘Dubai – A Falcon’s Eye View’ that provides visitors the opportunity to experience Dubai from an entirely unique perspective. They can go on a virtual tour across prominent destinations of Dubai, hovering above the city like a falcon.

The use of these advanced telescopes for free for all visitors. They can also experience a brand-new spiral flight that connects Levels 124 and Levels 125.

To book tickets for At the Top, Burj Khalifa and At the Top, Burj Khalifa SKY, log on to: https://tickets.atthetop.ae/atthetop/Step0_BookingInfo.aspx

Tickets can also be purchased from the starting point of the At the Top, Burj Khalifa journey at The Dubai Mall. For more information please call, 800 AT THE TOP (288 438 67) or visit: www.atthetop.ae