Category: Business Segments

• Theme of Emaar New Year’s Eve celebrations is announced as Eve of Wonders
• State-of-the-art laser feature has been added to the fireworks and laser & light show for a display poised to redefine New Year’s celebrations, Dubai style!

Dubai, United Arab Emirates; December 14, 2021: Emaar, the UAE’s globally renowned and recognised integrated real estate development company, is getting ready to ring in 2022 with a fantastic Emaar New Year’s Eve display that will witness a fabulous firework show, choreographed to laser, lights and music. Aptly called “Eve of Wonders”, spectators across the globe are invited to see a dazzling spectacle as Emaar decorates Dubai’s skies with a display unlike any other.

Since 2010, the Emaar NYE celebrations have become among the most iconic in the world. Watched by audiences all over the world, the display, which takes place in Downtown Dubai on December 31st, is a unique initiative by Emaar, celebrating the dynamism, creativity, and openness of the city.

As the clock strikes midnight on December 31st, the spectacular pyrotechnics, light & laser extravaganza will light up the night sky in Dubai Downtown. In line with the theme’ Eve of Wonder’, a brand-new laser feature is making its debut at The Dubai Fountain in sync with Burj Khalifa’s stunning programme, creating a memorable masterpiece that is poised to redefine new year’s celebrations worldwide, Dubai style!

Whether in Downtown Dubai, watching online, or on television worldwide, the public is guaranteed a show-stopping gala event to welcome in the new year. Emaar NYE 2022 will be broadcast live globally and live-streamed from 08:30 pm local time on mydubainewyear.com.

Commenting on Emaar New Year’s Eve spectacular celebrations in Downtown Dubai, Mohamed Alabbar, Founder of Emaar, said: “The UAE, and Dubai, inspire hope and optimism, and bring together a global community to shape the future. This year’s celebration is a tribute to our nation’s achievements in the past 50 years. It also highlights our leadership’s vision to create a new age of progress through openness and collaboration, and Emaar is proud to be part of it.”

A seamless experience awaits guests wishing to access Downtown Dubai on December 31st by using the U by Emaar app and its easy-to-use pre-registration process. Guests, including Emaar Boulevard residents and hotel guests, can simply log on to the U by Emaar app and follow the straightforward steps to access all Downtown Dubai locations. After successfully registering, they will receive individual QR codes that they can use to gain access to Downtown Dubai on New Year’s Eve.

Note to Editors:

About Emaar Properties:

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

With a proven track-record in delivery, Emaar has delivered over 67,700 residential units in Dubai and other global markets since 2002. Emaar has strong recurring revenue-generating assets with over 880,000 square metres of leasing revenue-generating assets and 25 hotels and resorts with 5,342 rooms (includes owned as well as managed hotels). Today, 46 per cent of the Emaar’s revenue is from its shopping malls & retail, hospitality & leisure and international subsidiaries.

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

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

For details:

JES Media

emaar@jesmedia.ae

6717 576 4 (0) 00971

Dubai, United Arab Emirates; September 6, 2021: Emaar Properties PJSC (“Emaar Properties“, DFM: EMAAR) and Emaar Malls PJSC (“Emaar Malls“, DFM: EMAARMALLS) jointly announced today that the Securities & Commodities Authority (“SCA”) has issued its final approval pertaining to the proposed merger of the two companies.

As disclosed on March 2, 2021, the proposed merger has the unanimous support and recommendation of the board of directors of Emaar Properties and Emaar Malls (acting through its independent directors) and will reinforce Emaar Properties’ position as MENA’s largest integrated and diversified real estate company, ensuring both Emaar Properties and Emaar Malls are strategically positioned to capture opportunities in the marketplace and drive shareholder value.

The proposed transaction, subject to satisfying the required conditions, would be effected as a statutory merger with Emaar Malls shareholders (excluding Emaar Properties) receiving 0.51 Emaar Properties shares for every one Emaar Malls share. This represents a premium of 7.1% to the closing price of Emaar Malls on 1 March 2021, the last trading day prior to the merger announcement, and a premium of 11.2% to the market implied exchange ratio based on volume weighted average prices over the last one month to 1 March 2021 . Furthermore, this represents a premium of 3.5% to the closing price of Emaar Malls on 1 September 2021 and a premium of 4.4% to the market implied exchange ratio based on volume weighted average prices over the last one month to 1 September 20212.

The merger is subject to a number of conditions, including the approval of the merger by vote of shareholders who own at least 75% of the shares represented at quorate general meetings (“GMs“) of Emaar Properties and Emaar Malls. The shareholder circular (“Shareholder Circular”), which sets out a description of the merger and the combined businesses of Emaar Properties and Emaar Malls following completion of the merger, can be viewed at the companies’ website (www.emaar.com) or, alternatively, hard copies of the Shareholder Circular can be obtained (without charge) from the offices of the companies at Building 1, Level 7, Dubai Hills Estate Business Park, Dubai Hills Estate, Emirate of Dubai, United Arab Emirates.

The boards of directors of Emaar Properties and Emaar Malls are scheduled to circulate a resolution on 9 September 20201 to invite the shareholders to attend the General Meeting of the companies, which will be held both physically and remotely/electronically on 10 October 2021. Additional details are disclosed in the Shareholder Circular.

Subject to the satisfaction of the conditions to the merger, upon the effective date of the merger the assets and liabilities of Emaar Malls (including the rights and liabilities of Emaar Malls as the obligor under the transaction documents relating to EMG Sukuk Limited’s U.S.$750,000,000 Trust Certificates Due 2024 (ISIN XS1075401726) (the “Certificates” and the “Transaction Documents”) will be assumed by Emaar Properties in consideration for the issue of new Emaar Properties shares to existing Emaar Malls shareholders (excluding Emaar Properties). As a subsequent step, the existing business of Emaar Malls will be reconstituted in a wholly owned subsidiary of Emaar Properties, with such subsidiary taking on the rights and liabilities of the obligor under the Transaction Documents from Emaar Properties (the “Reorganisation”).

The consent solicitation memorandum (“Consent Solicitation Memorandum”) setting out the terms and conditions of a consent solicitation exercise (the “Consent Solicitation”) to obtain the approval of eligible holders of the Certificates (“Certificateholders”) to the merger, the Reorganisation and related matters is available to eligible persons from the information and tabulation agent at https://projects.morrowsodali.com/emaar. As mentioned in the Consent Solicitation Memorandum, the Certificateholders’ meeting is expected to be held on 28 September 2021. Additional details are disclosed in the Consent Solicitation Memorandum.

As disclosed on July 6, 2021, the merger is expected to complete before year-end 2021.

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

-Ends-

Note to Editors:

About Emaar Properties:

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

With a proven track-record in delivery, Emaar Properties has delivered over 72,100 residential units in Dubai and other global markets since 2002. Emaar Properties has strong recurring revenue-generating assets with over 1,140,000 square metres of leasing revenue-generating assets and 27 hotels and resorts with 5,895 rooms (includes owned as well as managed hotels). Today, 50 per cent of the Emaar Properties’ revenue is from its shopping malls & retail, hospitality & leisure and international subsidiaries.

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

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

About Emaar Malls:

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

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

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

Follow The Dubai Mall on: Facebook: www.facebook.com/thedubaimall.
Twitter: www.twitter.com/thedubaimall, Instagram: www.instagram.com/thedubaimall.

For more information:

JES Media
emaar@jesmedia.ae
00971 (0) 4 576 6717

• Recorded robust property sales of AED 16.842 billion (US$ 4.585 billion) during H1 2021
• Emaar records revenue of AED 12.5 billion (US$ 3.403 billion), led by superior performance of property development business
• Half-year net profit reaches AED 1.560 billion (US$ 425 million)
• Total revenue backlog of Emaar reaches AED 39.836 billion (US$ 10.846 billion), to be recognised in coming years

Dubai, United Arab Emirates – August X, 2021: Global property developer Emaar Properties PJSC (DFM: EMAAR) recorded robust performance in the first half of 2021, led by record property sales of AED 16.842 billion (US$ 4.585 billion). This represents a 229 per cent increase compared to the first-half 2020 property sales of AED 5.120 billion (US$ 1.394 billion). The remarkable performance was a result of Emaar’s concerted focus on sales of under-construction projects and the successful launch of properties both in the UAE and international markets.

Led by robust performance of the property development business as well as mall and hospitality businesses, Emaar achieved revenue of AED 12.5 billion (US$ 3.403 billion) during the first half of 2021, 52 per cent higher than the H1 2020 revenue of AED 8.220 billion (US$ 2.238 billion). H1 2021 net profit stood at AED 1.560 billion (US$ 425 million) compared to AED 1.698 billion (US$ 462 million) in H1 2020, which included an exceptional income of AED 982 million (US$ 267 million), primarily relating to the sale of Emaar’s District Cooling business.

During the second quarter of the year (April to June 2021), Emaar recorded revenue of AED 6.507 billion (US$ 1.772 billion) which is 125 per cent higher than the same period last year and 9 per cent higher than the first quarter of 2021 (January to March). Net profit for Q2 2021 at AED 903 million (US$ 246 million) is 37 per cent higher than Q1 2021.

Mohamed Alabbar, Founder of Emaar, said, “Our performance in the second quarter demonstrates our continued resilience and ability to anticipate and ‘future-proof’ the business. Looking to the future, I am very optimistic about the remainder of the year as we maintain our focus on meeting and exceeding our customers’ expectations, delivering long-term, sustainable results across our business units, and collectively strengthening our organisation. This will ensure we continue to anticipate and meet customers’ rapidly evolving property and lifestyle demands, while improving the lives of residents and visitors alike.”

Dubai continues to lead the way as a global hub for trade, financial services, logistics, travel, and hospitality, with emerging sectors such as technology, green energy, healthcare and education witnessing growth. The region continues to attract a large community of skilled professionals and investors who, in turn, invest in the region’s continuous growth potential, as reflected in Emaar’s record sales for Q2 2021.

Emaar has handed over more than 77,000 residential units in Dubai and international markets since 2002, with more than 25,700 units currently under development in the UAE and 11,000 units in global markets. Setting new benchmarks in design, build quality and innovation, Emaar consistently offers premium experiences and lifestyle opportunities across market segments, and its properties continue to remain sought-after by investors at home as well as abroad.

Emaar Development

Emaar Development PJSC (DFM: EMAARDEV), the UAE build-to-sell property development business, majority-owned by Emaar Properties, achieved its highest quarterly property sales on record of AED 7.942 billion (US$ 2.162 billion) during the second quarter (April-June) of 2021, recording over 21X growth over Q2 2020 property sales. In the first half of 2021, Emaar Development achieved property sales of AED 13.825 billion (US$ 3.764 billion), a growth of 328 per cent over H1 2020 property sales of AED 3.230 billion (US$ 879 million).

Supported by robust property sales, Emaar Development has achieved H1 2021 revenue of AED 7.755 billion (US$ 2.111 billion) and net profit of AED 1.512 billion (US$ 412 million), representing a growth of 61 per cent and 46 per cent, respectively, compared to the same period last year.

Emaar International

In H1 2021, Emaar’s international businesses reported property sales of AED 2.993 billion (US$ 815 million), 59 per cent higher compared to the same period last year, led by operations in Egypt and India. Underpinned by successful incremental deliveries of projects in Egypt and India, Emaar’s international businesses recorded revenues of AED 1.749 billion (US$ 476 million), contributing 14 per cent to Emaar’s total revenue.

Emaar Malls

Emaar Malls (DFM: EMAARMALLS), the shopping malls and retail giant, recorded revenue of AED 2.048 billion (US$ 558 million) in H1 2021, 23 per cent higher than the same period last year, backed by significant recovery of tenants’ retail sales. Overall net profit for the first half of 2021 amounted to AED 622 million (US$ 169 million), delivering strong growth in profitability of 80 per cent compared to net profit of AED 345 million (US$ 94 million) during the same period last year.

Revenue for Q2 2021 increased by 27 per cent to AED 1.147 billion (US$ 312 million), compared to the Q1 2021 revenue of AED 901 million (US$ 245 million). Emaar Malls’ assets maintained strong occupancy levels at approximately 91 per cent.

Emaar Malls’ e-commerce fashion and lifestyle platform, Namshi, a wholly owned subsidiary, recorded sales of AED 427 million (US$ 116 million) for Q2 2021, an increase of 65 per cent compared to Q1 2021. With the addition of over 240 new brands earlier this year, combined with exceptional demand during Ramadan and Eid, Namshi delivered impressive revenue for the first half of 2021 of AED 685 million (US$ 186 million). Namshi’s strong performance is credited to its persistent growth in Saudi Arabia, Kuwait and other GCC countries, along with its launch in Qatar in early 2021.

Emaar Hospitality, Leisure & Entertainment

The hospitality, leisure, entertainment and commercial leasing businesses of Emaar recorded revenue of AED 948 million (US$ 258 million) during H1 2021, 14 per cent higher than the same period last year. Hotels under Emaar Hospitality Group, including its managed hotels, achieved average occupancy levels of 63 per cent despite challenging market conditions and limited global travel.

Underlining the diversification of revenue streams, Emaar’s recurring revenue businesses of malls, hospitality, leisure, entertainment, and commercial leasing, together, achieved revenue of AED 2.996 billion (US$ 816 million), contributing 24 per cent to Emaar’s H1 2021 revenue.

–Ends–

Note to Editors:

About Emaar Properties:

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

With a proven track-record in delivery, Emaar has delivered over 77,000 residential units in Dubai and other global markets since 2002. Emaar has strong recurring revenue-generating assets with over 1,130,000 square metres of leasing revenue-generating assets and 28 hotels and resorts with 6,038 rooms (includes owned as well as managed hotels). Today, 38 per cent of Emaar’s revenue is from its shopping malls & retail, hospitality & leisure and international subsidiaries.

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

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

For more information:

Kim Seelochan
JES Media
00971 (0) 58 584 6247
kim.seelochan@jesmedia.ae

• Achieved Q1 2021 revenue of AED 5.993 billion (US$632 billion); net profit for the same period was AED 657 million (US$ 179 million), 8% higher than Q1 figures for 2020
• Q1 2021 domestic property sales reached at AED 5.904 billion (US$ 1.607 billion), 106% higher than 2020 sales for the same period
• Emaar’s sales backlog increased to AED 41.805 billion (US$ 382 billion), to be recognised as revenue in the coming years

Dubai, United Arab Emirates – May 10, 2021: Emaar Properties PJSC (DFM: EMAAR), announced it has achieved significant increased property sales underscoring investors’ continued confidence in Emaar brand and recovery of Dubai real estate market. During the first quarter (January to March) of 2021, Emaar recorded an increase in group property sales of 83 per cent to AED 7.115 billion (US$ 1.937 billion) compared to the Q1 2020 group property sales of AED 3.887 billion (US$ 1.058 billion). The property sales were even higher than Q1 2019 by 6%.

Key performance highlights

Backed by robust property sales, Emaar’s Q1 2021 revenue stood at AED 5.993 billion (US$ 1.632 billion), an increase of 12 per cent compared to Q1 2020 revenue of AED 5.328 billion (US$ 1.451 billion). Emaar reported net profit of AED 657 million (US$ 179 million) for Q1 2021 compared to the net profit of AED 609 million (US$ 166 million) during the same period in 2020, a growth of 8 per cent.

With a solid sales backlog of AED 41.805 billion (US$ 11.382 billion), which will be recognised as future revenue for Emaar Properties, the backlog reflects the strength of Emaar’s financial position to preserve high revenue, profitability and shareholders’ return in the foreseeable future.

Mohamed Alabbar, Founder of Emaar Properties, said: “As one of the most dynamic and growing markets in the world, Dubai’s property market resilience is a testament to its commitment to become one of the world’s best cities. We are dedicated to delivering properties in a timely manner and providing unparalleled residential developments that improve the lives of our residents and visitors. Within such a short space of time, Emaar has managed to achieve results that are comparable to 2019, before the pandemic affected businesses globally. Results are not by chance; they are a collective effort”.

Dubai continues to lead the way as a global hub for trade, financial services, logistics, travel and hospitality, with emerging sectors witnessing growth such as technology, green energy, healthcare and education. The region continues to attract a community of skilled professionals and investors who in-turn invest in the region’s continuous growth potential, reflective in Emaar’s sales records for Q1 2021.

Emaar has handed over more than 74,500 residential units in Dubai and international markets, with more than 25,500 units currently under development in the UAE and 11,500 units in global markets.

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

Emaar Development

Emaar Development PJSC (DFM: EMAARDEV), the UAE build-to-sell property development business, majority-owned by Emaar Properties achieved strong quarterly property sales in Dubai during the first quarter (January to March) of 2021 recording an increase of 106 per cent to AED 5.904 billion (US$ 1.607 billion) compared to the Q1 2020 sales of AED 2.864 billion (US$ 780 million). Emaar Development has achieved revenue of AED 3.848 billion (US$ 1.048 billion) and net profit of AED 781 million (US$ 213 million), which grew by 26 per cent and 20 per cent over Q1 2020, respectively.

Emaar International

Emaar’s international operations continued to improve their operational results and recorded property sales of AED 1.211 billion (US$ 330 million) in Q1 2021 compared to AED 1.023 billion (US$ 279 million) in Q1 2020 and AED 764 million (US$ 208 million) in Q1 2019, a growth of 18 per cent compared to 2020 and 59 per cent compared to 2019. This highlights the positive property market recovery as well as the significant interest in Emaar’s international expansions and trusted master developments.

Emaar’s international businesses contributed 13 per cent to Emaar’s total revenue, underpinned by successful operations in Egypt, India and Pakistan.

Emaar Malls

Emaar Malls (DFM: EMAARMALLS), the shopping malls and retail giant, released its results for Q1 2021, confirming its recorded revenue of AED 901 million (US$ 245 million). Overall net profit for Q1 2021 amounted to AED 318 million (US$ 87 million) which is 169 per cent higher than Q4 2020. Emaar Malls assets maintained strong occupancy levels at 91 per cent.

Emaar Malls’ e-commerce fashion and lifestyle platform, Namshi, a wholly owned subsidiary, recorded sales of AED 258 million (US$ 70 million) for Q1 2021, an increase of 6 per cent compared to Q1 2020. Namshi’s strong performance is credited to its persistent growth in Saudi Arabia, Kuwait and other GCC countries along with its launch in Qatar in early 2021 and an increase of 117 new brands.

Emaar Hospitality, Leisure & Entertainment

The hospitality, leisure, entertainment and commercial leasing businesses of Emaar recorded revenue of AED 457 million (US$ 124 million) for Q1 2021, with the hotels under Emaar Hospitality Group, including its managed hotels, boasting average occupancy levels of 62 per cent despite current market challenges and restrictions imposed by authorities.

Underlining the dynamic revenue streams of Emaar, the company’s recurring revenue generating businesses of malls, hospitality, leisure, entertainment and commercial leasing, together achieved revenue of AED 1.244 billion (US$ 339 million) which makes up 23 per cent of the company’s revenue.

-ends-

Note to Editors:

About Emaar Properties

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

With a proven track-record in delivery, Emaar has delivered over 74,500 residential units in Dubai and other global markets since 2002. Emaar has strong recurring revenue-generating assets with over 1,130,000 square meters of leasing revenue-generating assets and 28 hotels and resorts with 6,038 rooms (includes owned as well as managed hotels). Today, 36 per cent of the Emaar’s revenue is from its shopping malls & retail, hospitality & leisure and international subsidiaries.

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

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

For more information:

JES Media
emaar@jesmedia.ae
00971 (0) 4 576 6717

Dubai, UAE; 27 April, 2021: Emaar Malls PJSC held its Annual General Meeting (AGM) today and its Board of Directors reflected on the company’s achievements despite the challenging market conditions affected by the Covid-19 pandemic on the global economy and the retail industry.

The Board of Directors highlighted Emaar Malls PJSC’s efforts to support Dubai Government’s fight against Covid-19 with the implementation of Vaccination Hub at The Dubai Mall. They also highlighted Emaar Malls’ support to their retail tenants’ financial wellbeing and efforts to protect the SME’s by providing more than AED 1 billion (US$ 272 million) in rental relief during 2020. The support was further extended until 31 March 2021.

During the AGM, the Directors Report on the primary activities, business overview and financial results, Auditors’ Report and Consolidated Financial Statements of the company for the year 2020 were approved.

Emaar Malls PJSC recorded revenue of AED 3.508 billion (US$ 955 million) in 2020. Overall net profit in 2020 amounted to AED 704 million (US$ 192 million). Namshi, the regional

e-commerce fashion and lifestyle platform, a wholly owned subsidiary of the company, recorded sales of AED 1.316 billion (US$ 358 million), increased by 28 per cent compared to the previous year. Namshi’s strong performance is attributed to its continual growth in Saudi Arabia, increase of 283 brands on the platform and providing customers with the latest trends.

Mohamed Alabbar, Founder and Managing Director of Emaar Properties, said: “Without the phenomenal contribution of our Shareholders and employees in the previous year, Emaar would not be in its robust position that it is today. In one of the most challenging times in decades, together, we have shown incredible adaptability enabling Emaar Malls to continuously deliver the ultimate shopping and entertainment experience for residents and tourists alike.

“We expect the positive trend to continue in the year ahead as we witness guests returning to our malls and entertainment attractions with optimism. Digital transformation is at the root of our business and we endeavour to intelligently connect and communicate with our customers and shareholders, to support business growth,” Alabbar added.

The AGM went on to underline the company’s rigorous measures it took to maintain stability of the business throughout 2020, despite the global pandemic that affected businesses across the world. New digital initiatives were rapidly developed and implemented to ensure optimal efficiency for the malls’ operational requirements. Customers were also able to continue to enjoy the very best shopping experience throughout 2020, while maintaining the safety of its guests.

–Ends–

Note to Editors

About Emaar Malls:

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

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

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

For more information:

JES Media
emaar@jesmedia.ae
00971 (0) 4 567 6717

Dubai, UAE; 11 April 2021: Today, 11 April 2021, Emaar Properties PJSC (DFM: EMAAR) held its 25th Annual General Meeting (AGM), where its Board of Directors discussed the company’s solid performance in 2020 despite the challenges of the Covid-19 pandemic. The Board highlighted the stringent measures it took to safeguard continued robust business performance.

The dividend distribution proposal from the Board of Directors representing 10 per cent of the share capital was approved at the AGM, confirming Emaar’s keenness to ensure added value for its shareholders. The shareholders also elected a new Board of Directors composed of 9 members who have the adequate skills and expertise to take Emaar to the next level of future growth.

The new Board of Directors elected for 2021 include Mr. Mohamed Ali Rashid Alabbar, Mr Jassim Mohammed AbdulRahim Al Ali, Mr. Ahmad Thani Rashed Al Matrooshi, Mr. Jamal Majed Khalfan Bin Theniyah, Mr Buti Obaid Buti AlMulla,
Ms. Eman Mahmood Ahmed Abdulrazzaq, Mr. Ahmed Jamal H Jawa, Mr. Helel Saeed Salem Saeed Almarri, Mr Sultan Saeed Mohammed Nasser AlMansoori.

During the AGM, the Board of Directors’ 2020 report on the company’s activities and financial position and the Auditor’s report have been also approved.

Emaar recorded overall property sales of AED 10.902 billion (US$ 2.968 billion) for 2020 of which AED 6.321 billion (US$ 1.721 billion) was achieved in the UAE. The performance reflects sustained interest from investors, both domestic and foreign.

Emaar has handed over more than 72,100 residential units in Dubai and international markets, with more than 26,000 currently under development in the UAE and 12,000 units in global markets.

Mohamed Alabbar, Founder, Emaar Properties, said: “We are grateful to our shareholders continual support, helping us to remain robust throughout 2020 and boost growth. We have been able to maintain our market position, despite the challenges brought by the pandemic and are looking forward to the development of our future innovative projects. We continue to redefine Dubai’s property landscape and our property sales of AED 10,902 million in 2020 is a testament to our resilience.

“By nurturing and developing our talents within Emaar, coupled with our constant digital transformation and product innovation, we have set the benchmark for future growth and long-term value creation for our shareholders. We remain committed to creating communities and transforming lifestyles for our customers locally and internationally,” Alabbar added.

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

With the recent merger of Emaar Properties and Emaar Malls that was announced on 2 March 2021, Emaar Properties and Emaar Malls will continue to pursue the satisfaction of commercial and regulatory conditions until further notice.

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

–Ends–

Note to Editors:

About Emaar Properties:

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

With a proven track-record in delivery, Emaar has delivered over 72,100 residential units in Dubai and other global markets since 2002. Emaar has strong recurring revenue-generating assets with over 1,140,000 square metres of leasing revenue-generating assets and 27 hotels and resorts with 5,895 rooms (includes owned as well as managed hotels). Today, 50 per cent of the Emaar’s revenue is from its shopping malls & retail, hospitality & leisure and international subsidiaries.

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

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

Dubai, United Arab Emirates – 8 April, 2021: Emaar Development PJSC (DFM: EMAARDEV) held its Annual General Meeting (AGM) today, 8 April 2021. Its Board of Directors reflected on the company’s 2020 durable performance and resilience during challenging times.

The Board of Directors also expressed their commitment to delivering high-quality homes to its customers and despite the Covid-19 pandemic will continue to progress at speed for its upcoming master developments.

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

Emaar Development PJSC reported property sales of AED 6.308 billion (US$ 1.717 billion) and with a net profit of AED 1.657 billion (US$ 451 million) for 2020. Emaar continues to maintain a healthy sales backlog of AED 24.605 billion (US$ 6.699 billion) to be recognised in the coming years.

Emaar Development has delivered approximately 4,800 residential units in 2020 across prime locations, including Dubai Hills Estate, Dubai Creek Harbour, Downtown Dubai, Arabian Ranches and Emaar South. As of December 2020, Emaar has delivered more than 47,000 residential units, with over 26,000 residences currently under development in the UAE.

Emaar Development is expected to deliver over 6,000 residential units in 2021 across various masterplans mainly in Dubai Creek Harbour, Dubai Hills Estate and Downtown Dubai.

Recognising Emaar Development’s resilient performance despite the impact of the Covid-19 pandemic and its effect on companies globally, Mohamed Alabbar, Founder, Emaar Properties, said: “Emaar Development remains committed to its projects’ delivery timeframes and we are working diligently to continue to go above and beyond expectations. Thanks to the strength and commitment of our shareholders, management, and staff we have continued to remain profitable despite the global challenges.

“We are optimistic that 2021 will see market conditions continue to gradually improve, and Emaar Development is dedicated to driving its key projects at optimal speed through digital innovation and by continually adopting future-forward concepts to deliver world-class developments,” Alabbar added.

–Ends–

 Note to Editors:

About Emaar Development PJSC:

Emaar Development is the leading developer of residential and commercial build-to-sell (BTS) assets in the UAE. The company is behind iconic freehold master-planned communities in Dubai including Emirates Living, Downtown Dubai, Dubai Marina and Arabian Ranches, and has delivered over 47,000 residential units since 2002. The company has a sales backlog of over AED 24.605 billion, and is a high cash flow generating business, highlighting the robust fundamentals of the company, with over 26,000 residential units under development to be delivered. For more information, please visit

www.properties.emaar.com/en/investor-relations/

For more information:
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emaar@jesmedia.ae
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