Emaar Pakistan News
SPECIAL NOTICE: Emaar is
doing a soft launch of Crescent Bay in Karachi on 9th December 2007.
If you are interested in buying property in Crescent Bay Karachi,
you must pre-register to be included in the buyers' list. ONLY
PRE-REGISTERED clients will have the 100% surety of being able to
get a property when the project is launched for sale to the general
public.
Click here to request for details.
Once you are pre-registered YOU HAVE A CHOICE to say NO if you
decide not to buy after seeing the full project details. BUT if you
are nor pre-registered you may not even be able to get a property as
these projects get sold out on the first couple of days after a
public launch of Crescent Bay. Pre-registration doesn't put you
under any obligation to buy, it simply registers you as a preferred
buyer who'll get a guarantee.
Please note this is for Pakistani nationals only, one
registration per NIC and first come first served rules apply so
please hurry..
Click
here
Emaar recharges Pakistani property market
Dubai, UAE, September 19, 2006.
Read more >>>>
Emaar Pakistan
opens sales of new Prados townhouses at Canyon Views from Sept. 16
Dubai, UAE, September 14,
2006
Emaar hosts
first-ever international sale of residences in Pakistan
Dubai, UAE, September 9,
2006. Read more >>>>
Emaar Pakistan launches Portuguese-style
Mirador homes at Canyon Views
Dubai, UAE, September 8,
2006. Read more >>>
Emaar rolls out
Canyon Views, Pakistan’s first master-planned community
Islamabad, Pakistan,
August 25, 2006. Read more >>>>
Emaar unveils three real estate projects in Pakistan with total
investment of AED 8.8 billion
Dubai, UAE,
May 31, 2006.
Read more
>>>>
Other Emar News
Emaar wins
Construction Week’s ‘Developer of the Year’ award
Dubai, UAE, November 2, 2006.
Read
more >>>>
Emaar wins
Euromoney’s best developer awards for the UAE and Egypt
Dubai, UAE,
October 16, 2006.
Read more >>>>
Emaar to raise US$1
billion in debut Islamic facility
Dubai, UAE, October 3, 2006.
Read more >>>>
Emaar Properties - The force behind the
unprecedented developments
Read more >>>>
Emaar recharges
Pakistani property market
Dubai, September 19, 2006:
Emaar Pakistan, the country-arm of global real estate major Emaar
Properties, has recharged the Pakistani property market through a
bouquet of innovative projects.
Mr Mohammed Al-Falasi, Managing Director, Emaar Pakistan, said the
challenge faced by Emaar in its entrance in to the country was to
create a new niche in the marketplace and revitalize interest on
home-property in the minds of the upwardly mobile Pakistanis living
in the country and abroad.
“With three master-planned communities already announced in
Islamabad and
Karachi, Emaar Pakistan is
underpinning the importance of these projects as catalysts for the
local economy,” said Mr Al-Falasi. “For Emaar, it has always been
crucial that all of its projects add value to living – not only to
its residents and tenants but also to the larger society.”
Mr Al-Falasi is one in a growing group of UAE professionals
entrusted with pivotal positions internationally. “For me, Pakistan
is a new market but the potential offered by this emerging economy
has always been of interest, particularly because of our large
Pakistani expatriate clientele in Dubai,” he added.
Mr Al-Falasi has worked across the board at Emaar from sales to
property management. A graduate in Business Administration from the
Eastern Washington University, USA, he majored in marketing and
general management, which put him in good stead during his first job
as sales representative of the prestigious Emirates Hills of Emaar
Properties.
After a year, he assumed the challenging role of Head of Market
Control at Dubai Financial Market (DFM). A member of the DFM launch
team, he was also involved in preparing operational manuals,
monitoring stock indices, managing the trade floor and analyzing the
market performance.
He rejoined Emaar to take on wider responsibilities with special
focus on property, retail and facilities management. Mr Al-Falasi
took charge of Emaar’s Pakistan projects in 2004. He works in close
co-operation with governmental institutions and leads Emaar’s
multi-million dollar expansion programme for the country.
“Emaar’s developments in Pakistan are in line with the global real
estate major’s Vision 2010 of becoming one of the world’s most
valuable companies through strategic expansion and diversification
in key markets and sectors,” said Mr Al-Falasi. “Pakistan has one of
the fastest growing economies in the region and its potential
remains under-utilized. However, from the perspective of property
development, Emaar has realized that Pakistan needs innovative
solutions.”
Emaar rolls out projects that integrate residential, commercial,
leisure and retail components in such a way as to create
self-sustaining living environments that are truly world-class.
To date, Emaar
Pakistan has announced three mixed-use projects of development value
PKR145 billion (US$2.4 billion) in Islamabad and Karachi – the
Highlands and Canyon Views; and Crescent Bay - and also signed a
Memorandum of Understanding with Pakistan’s Port Qasim Authority to
develop a mixed-use land project in Karachi.
“For us, the challenge is to ensure that the global standards
expected of Emaar are met, which we hope to accomplish through
strategic partnerships with local and international suppliers,” said
Mr Al-Falasi.
Having consolidated its home-turf, the UAE, with a track record of
handing over 14,000 homes in Dubai, Emaar has embarked on
prestigious developments in countries further afield as Saudi
Arabia, Morocco, Egypt, Syria, Tunisia, Turkey and India.
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Emaar Pakistan
opens sales of new Prados townhouses at Canyon Views from Sept.
16
Dubai, UAE, September 14, 2006: Emaar
Pakistan, the country-arm of global real estate major Emaar
Properties, has unveiled a second series of residential quarters,
the Prados, at its Canyon Views
development in Islamabad.
Sales of the exclusive townhouses opens at the
Canyon Views Sales Center
located at the Defence Housing
Authority Islamabad (DHAI) Phase 2 extension. Potential
investors and home-owners can visit the centre from September 16, 11
am to 8 pm.
Like its predecessor, the
Mirador homes, Prados are
also Portuguese-styled and are integrated into a self-sufficient
neighborhood featuring an array of amenities such as retail units,
school and children’s play area.
”Investor feedback to Mirador homes has been overwhelming,” said Mr
Mohammed Al-Falasi, Managing Director, Emaar Pakistan. “The
enthusiastic response prompted us to launch Prados, the second
residential quarters in our first master-planned community in
Pakistan – the Canyon Views, which is part of a PKR145 billion
(US$2.4 billion) development outlay by Emaar in Pakistan.”
Featuring terracotta walls, gabled roofs and wrought iron detailing,
the Prados townhomes are ideal for families. Set amidst wide-open
green spaces, meandering walkways and tree-lined streets, the houses
are centrally located near the city center, yet comfortably tucked
away from the city’s hustle and bustle.
“Prados infuses a wonderful sense of the Portuguese passion for life
in a community that is rooted in modern Pakistan,” added Mr Al-Falasi.
“These homes take the best of Portuguese style and adapt them to
suit the Islamabad climes.”
Prados townhouses have large ceilings that reflect heat at the
height of summer and retain warmth during winter. Each home has
intricate architectural textures with meticulous attention given to
the interiors. Residents can customize the colour palette of their
homes with two colour finishes. Ceramic tiles are standard and
kitchens come fitted with elegant cabinetry and granite countertops.
All bedrooms have built-in wardrobes and the master-bedroom has
en-suite bathroom. Service quarters and parking for two vehicles are
other features.
Amenities include swimming pool, tennis court, walking trails and
open spaces for picnics and barbecues. Situated within a gated
community, Prados has close access to a town centre that features
retail outlets, restaurants, fitness facilities, schools and a
mosque. Prados also offers 24-hour security and maintenance
services.
“Emaar has a track record of handing over 14,000 homes in varied
master-planned community projects in Dubai,” said Mr Al-Falasi. “We
extended the same concept to Pakistan with Mirador homes, and
continue the trend with the Prados townhouses.”
Canyon Views is located in the
DHAI Phase 2 extension. Emaar is also developing the
Highlands in Islamabad and
Crescent Bay in Karachi apart
from having signed a Memorandum of Understanding with the Port Qasim
Authority to develop a mixed-use project in Karachi.
Emaar’s Pakistan development initiatives are in line with the
company’s Vision 2010 of becoming one of the world’s most valuable
companies through focused expansion and diversification.
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Emaar hosts
first-ever international sale of residences in Pakistan
Dubai, UAE, September 9, 2006: Global
real estate major Emaar Properties has commenced the first-ever
international sales of its overseas master-planned communities with
the opening of the Canyon Views sales center in Islamabad, Pakistan.
Emaar Pakistan, the country-arm of the property developer, offers
Portuguese-style Mirador villas at the dedicated Canyon Views sales
center located at Defence Housing Authority Islamabad (DHAI) Phase 2
extension, off Islamabad highway.
Canyon Views is part of a PKR145 billion (US$2.4 billion)
development outlay by Emaar in Pakistan and is located in the DHAI
Phase 2 extension.
Potential investors and home-owners can visit the centre from
September 10. Experienced sales staff and customer service
representatives will be on hand to assist potential investors.
(Overseas Pakistanis can contact us)
Emaar has embarked on an ambitious expansion and diversification
drive in line with its Vision 2010 of becoming one of the world’s
most valuable companies. The company has unveiled master-planned
communities and mixed-use developments in Saudi Arabia, Morocco,
Syria, Tunisia, Turkey, Egypt, Pakistan and India.
“We are honoured to host the first-ever international sales of an
overseas master-planned community project by Emaar,” said Mr
Mohammed Al-Falasi, Managing Director, Emaar Pakistan. “Canyon Views
extends on the concept of self-sustaining neighbourhoods that Emaar
pioneered in Dubai. The Mirador homes at Canyon Views match
international standards and have already gained overwhelming
response from Pakistan and abroad.”
The sales center will showcase perfectly simulated models of the
Mirador homes. “Visitors can also gain a glimpse of Emaar’s other
developments in the region,” said Mr Al-Falasi. “The center is
manned by an efficient customer service team and has ample parking
spaces.”
Perfectly suited for families, each stand-alone Mirador villa
recreates the flourish of Portuguese architecture with terracotta
walls, gabled roofs and wrought iron detailing. Wide-open green
spaces, meandering walkways and tree-lined streets set the stage for
an ideal getaway from the hustle and bustle of typical urban
quarters. The stylish homes, located in close proximity to the city
centre, are created to meet the requirements of the country’s
population seeking unique living environments.
Mirador offers its residents a range of community and sports
amenities such as cricket grounds, swimming pools and tennis courts.
The streetscapes are ideal for a leisurely stroll or cycling.
Children have dedicated play areas and swimming pools. The town
centre will feature retail outlets, restaurants, fitness facilities,
schools and a mosque.
Emaar is also developing the
Highlands in Islamabad and
Crescent Bay in Karachi apart from having signed a Memorandum of
Understanding with the Port Qasim Authority to develop a mixed-use
project in Karachi.
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Emaar Pakistan
launches Portuguese-style Mirador homes at Canyon Views
Dubai, UAE, September 8, 2006: Emaar
Pakistan, the country-arm of global real estate major Emaar
Properties, has unveiled Mirador
homes, a neighbourhood of Portuguese-styled villas at its first
master-planned community project in the country,
Canyon Views in Islamabad.
Perfectly suited for families, each stand-alone
Mirador villa recreates the
flourish of Portuguese architecture with terracotta walls, gabled
roofs and wrought iron detailing. Wide-open green spaces, meandering
walkways and tree-lined streets set the stage for an ideal getaway
from the hustle and bustle of typical urban quarters. The stylish
homes, located in close proximity to the city centre, are created to
meet the requirements of the country’s population seeking unique
living environments.
“Mirador homes form the first component of
Canyon Views, Emaar’s first
master-planned community in Pakistan,” said Mr Mohammed Al-Falasi,
Managing Director, Emaar Pakistan. “With Mirador, Emaar is bringing
in the best of Portuguese style living quarters, the architectural
components of which are perfectly suited for the warm climes of
Pakistan.”
Mirador offers its residents
a range of community and sports amenities such as cricket grounds,
swimming pools and tennis courts. The streetscapes are ideal for a
leisurely stroll or cycling. Children have dedicated play areas and
swimming pools. The town centre will feature retail outlets,
restaurants, fitness facilities, schools and a mosque.
Spanish or Portuguese style decorative elements complement the
pitched colourful roofs in the exteriors. The villas, designed with
a meticulous eye for details, boast modern fittings and elegant
finishes. Large kitchens come fitted with extensive cabinetry and
granite countertops. Residents have a choice of colour palettes for
the interior.
Ceramic tiles are standard throughout the villa. Ten-feet high
ceilings in living spaces and 9-ft high ceilings in principal spaces
assure cooler ambient temperatures. All bedrooms, with en-suite
bathrooms, have built-in wardrobes. The villas have special living
quarters for service staff and two car parks.
Advanced entertainment and communication facilities are offered
including hi-speed Internet access. All villas have private yards
enclosed by boundary walls. Twenty-four hour security and
maintenance services will also be provided.
“Emaar has a track record of handing over 14,000 homes in varied
master-planned community projects in Dubai, and we are expanding on
the same model in Islamabad with the Mirador homes at Canyon Views,”
said Mr Al-Falasi. “These villas mark a celebration of life by
offering residents a proportioned living quarter with large
balconies opening to lush green landscapes and a wide range of
community amenities.”
Canyon Views is part of a PKR145 billion (US$2.4 billion)
development outlay by Emaar in Pakistan and is located in the
Defence Housing Authority Islamabad (DHAI) Phase 2 extension.
The sales center for Mirador homes is located at DHA Phase 2
extension, off Islamabad highway. Potential investors and
home-owners can visit the centre from September 10 for more details
on the project or log on to www.emaar.com to register interest.
Emaar is also developing the
Highlands in Islamabad and
Crescent Bay in Karachi apart from having signed a Memorandum of
Understanding with the Port Qasim Authority to develop a mixed-use
project in Karachi.
Emaar’s Pakistan development initiatives are in line with the
company’s Vision 2010 of becoming one of the world’s most valuable
companies through focused expansion and diversification.
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Emaar rolls out Canyon Views,
Pakistan’s first master-planned community
Islamabad, Pakistan, August 25, 2006:
Emaar Pakistan, the country-arm of global real estate major Emaar
Properties, has rolled out its first master-planned community in
Pakistan, the Canyon Views.
A mixed-use development integrating residential, commercial, leisure
and retail components, Canyon
Views is located within the DHAI Phase 2 extension in Islamabad,
the capital city.
“Canyon Views is the first of
three projects of development value PKR145 billion (US$2.4 billion)
announced by Emaar in the country,” said Mr Mohammed Al-Falasi,
Managing Director, Emaar Pakistan. “Emaar is also developing the
Highlands in Islamabad and
Crescent Bay in Karachi apart
from having signed a Memorandum of Understanding with the Port Qasim
Authority to develop a mixed-use project in Karachi.”
To spread over 100 acres, Canyon
Views is an inimitable residential neighbourhood that features
retail outlets, community club houses, parks, lakes, boulevards,
schools and mosques. “With Canyon
Views, we are building on our hugely successful model of
master-planned communities in Dubai, where we have already handed
over 14,000 homes,” said Mr Al-Falasi.
Canyon Views will offer
luxury single-family town homes and villas in a range of
architectural styles. The homes are spacious and have high quality
finishes. Superior fittings are standard for bathrooms and kitchens.
“To give a unique identity to the vast neighbourhood,
Canyon Viewswill have
separate community districts that derive individuality through
varying architectural styles,” said Al-Falasi. “The villas will be
of Mediterranean, Tuscan, Mughal, Arab or Spanish style with
distinctive arches, gateways and frills to lend character.”
WATG are the master-planners of
Canyon Views. The architects are Mazen N. Issa, Alexander Hayes,
Bassenian Lagoni and Saunders & Wiant. “Canyon Views is scheduled to
complete in five years and will meet the demand for world-class
residential units from the young, upwardly mobile population of
Pakistan,” added Al-Falasi.
Emaar’s Pakistan development initiatives are in line with the
company’s Vision 2010 of becoming one of the world’s most valuable
companies through focused expansion and diversification. “Pakistan
is a key market in Emaar’s international expansion plans,” said Al-Falasi.
“The country has one of the fastest growing economies in the region
and its potential remains under-utilized.”
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Emaar unveils three real estate projects in Pakistan with total
investment of AED 8.8 billion
Dubai, UAE,
May 31, 2006:
Emaar Properties, the leading property developer, today announced
three real estate developments in the cities of Islamabad and
Karachi in Pakistan. The projects, with a total investment of AED
8.8 billion (US$2.4 billion), will include a series of master
planned communities that will set new benchmarks in commercial,
residential and retail property within Pakistan.
The nation’s capital, Islamabad, is home to two Emaar Pakistan
projects: the Highlands and Canyon Views. With 1,500 acres between
them the Islamabad communities offer 9,000 luxury single-family town
homes and villas in a range of architectural styles with easy access
to amenities including retail centres, community club houses, parks,
lakes, schools and mosques.
Karachi will be home to Crescent Bay, a 75-acre development
featuring high- and mid-rise towers for residential and commercial
use, a shopping centre and five-star beachfront hotel. The towers
will contain approximately 4,000 residential apartments.
Mohamed Ali Alabbar, Chairman, Emaar Properties said Pakistan
represented a vital link in Emaar’s global and regional plans.
“These current projects are only a small and initial part of our
commitment to providing world-class living and infrastructure in
Pakistan,” Alabbar said.
He added: “Pakistan will play an important role in the development
of Emaar’s reputation in Asia, and remains one of our most
significant commitments outside of the UAE.”
The Highlands development is located within the Defense Housing
Authority Islamabad (DHAI) Phase 1 extension and Canyon Views is
within the DHAI Phase 2 extension. Offering approximately 50
separate community districts with its own individual identity, a
spectrum of architectural styles ranging from Mediterranean, Tuscan,
Mughal, Arabic and Spanish, will be available to select from.
Crescent Bay, located within Karachi’s DHA Phase 8 and in close
proximity to the DHA golf course, will also offer individual
architectural styles for each tower within the development. All
three projects are expected to be completed in the next four to five
years.
Mohammed Al Falasi, Managing Director of Emaar Pakistan said: “Our
goal is to create a series of exciting developments that set new
standards for commercial and residential property. Highlands, Canyon
Views and Crescent Bay will set these standards and are the first of
many projects that we have planned for other cities in Pakistan,
which we will be developing over the next few years.”
World famous master planners on the Crescent Bay development are
Halcrow International with architects Norr and Holford while master
planners WATG, RNL and JZMK are working on Highlands and Canyon
Views projects.
Architects for the Islamabad projects are Mazen N. Issa, Alexandra
Hayes, Bassenian Lagoni and Saunders & Wiant. The master planners
have brought inspiration from the world’s best designed residential
communities to Pakistan – offering another Emaar signature landmark
to the region.
Al Falasi added: “Furthermore, we are aiming to preserve 20 per cent
of the project area as green space, offering a haven of peace and
natural beauty in the middle of a thriving community.”
Emaar’s innovative offering of self-contained, amenities-rich
communities have created lifestyle options that have been the first
choice for many residents around the world. The integration of
schools, health facilities, parks, landscaped grounds and retail
centres into master-planned golf, equestrian and marina-themed
lifestyles has proved a winning combination.
With joint ventures and projects covering Saudi Arabia, Syria,
Morocco, Egypt, Tunisia, Turkey and India, Emaar is taking its
winning formula first conceived in its home base Dubai to the rest
of the world.
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Emaar wins
Construction Week’s ‘Developer of the Year’ award
Dubai, UAE, November 2, 2006: Global
real estate major Emaar Properties has won Construction Week’s
‘Developer of the Year’ award for its adherence to build quality,
aesthetics, timely delivery and evidence of intelligent
master-planning.
Mr Ahmad Al Matrooshi, UAE Managing Director of Emaar Properties
received the award from Mr Grahame McCaig, General Manager and Mr
Zeyad Baker, Deputy General Manager of Dutco Balfour Beatty who
sponsored the award category, at the function held earlier this week
at Al Murooj Rotana, Dubai.
Construction Week is an industry-focused publication by ITP, the
largest business and consumer magazine publisher in the Middle East.
The ‘Developer of the Year’ award is a new addition to the
Construction Week Awards. Now in its third year, the awards
celebrate innovation and excellence in the construction industry.
“The Developer of the Year Award from Construction Week, an
industry-specific publication, is a great honour for Emaar,” said
Ahmad Al Matrooshi. “Judged by experts in the construction sector,
the award reiterates the emphasis Emaar places on the quality of
build of its projects, the overall aesthetics and incorporation of
sustainable construction techniques.”
Submissions came from real estate companies in the GCC involved in
the construction of residential, commercial or industrial projects.
The winners were selected by a high-profile panel of construction
industry experts by consensus.
The pioneer of master-planned communities in the UAE, Emaar has
handed over more than 14,500 homes in Dubai through its various
projects including the Arabian Ranches – a premier collection of
homes set by the desert; the Dubai Marina – the largest waterfront
development of its kind in the region and a collection of
neighbourhoods including The Lakes, The Springs, The Meadows, The
Views, Emirates Hills and Hattan Homes. Emaar is developing the AED
73 billion (US$20 billion) Downtown Burj Dubai, a mixed-used
development in the heart of the city. At its epicenter is Burj
Dubai, billed to be the world’s tallest tower when completed in
2008.
As part of its Vision 2010 to become one of the most valuable
companies in the world, Emaar has announced several development
projects in Saudi Arabia, Syria, Egypt, Morocco, Tunisia, Turkey,
India and Pakistan. The company has also diversified into education,
healthcare, retail, hospitality and finance.
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Emaar wins Euromoney’s
best developer awards for the UAE and Egypt
Dubai, UAE, October 16, 2006:
Global real estate major Emaar Properties has been awarded ‘Best
Developer in the UAE’ for the second consecutive year at the
Euromoney Real Estate Awards. Emaar also won the ‘Best Developer in
Egypt’ award, a reiteration of the company’s international expansion
strategy of developing luxury master-planned communities in key
emerging markets.
Euromoney, an authoritative magazine on global financial markets,
launched the Real Estate Awards last year to honour developers of
high quality and profitable projects. Industry professionals vote to
choose the winners. Completed projects as well as those in the
planning stage are considered for the award.
Dr Nader Mohamed, Executive Director of Emaar Properties received
the awards at a special ceremony held in London last Thursday.
“The awards are a peer-group endorsement of our core competency in
developing luxury master-planned communities,” said Dr Nader. “The
second consecutive award as the UAE’s best developer signals our
steadfast commitment to the quality and viability of our projects.”
Emaar, founded in 1997, is the pioneer of master-planned communities
in the UAE and has handed over more than 14,500 homes in Dubai
through its landmark projects – Emirates Living, Dubai Marina,
Arabian Ranches and the up-and-coming Downtown Burj Dubai.
In line with the company’s Vision 2010 of becoming one of the most
valuable companies in the world, Emaar has embarked on an ambitious
international expansion drive. The company, through strategic local
partnerships, has announced several key developments in Saudi
Arabia, Egypt, Morocco, Tunisia, Turkey, Syria, Pakistan and India.
In Egypt, Emaar is developing the EGP 10 billion (AED 6.30 billion /
US$1.74 billion) Marassi mixed-use project on a 7-km strip of
tourism land, which the company won in an auction. Work is afoot on
the EGP 22 billion (AED 15 billion / US$4 billion) master-planned
community – Uptown Cairo.
“Winning the Best Developer award in Egypt is a true honour for
Emaar, a relatively new entrant in the country,” added Dr Nader.
“Emaar’s projects in Egypt extend on the successful model of
developing self-sustaining neighbourhoods through our Dubai
communities.”
Emaar recently acquired John Laing Homes, America’s second largest
privately held home-builder and the UK-based realtor Hamptons
International. The company is also undertaking strategic initiatives
in education and healthcare sectors.
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Emaar to raise US$1
billion in debut Islamic facility
Dubai, UAE, October 3, 2006: Emaar Properties PJSC, the Dubai-based
Public Joint Stock Company, will raise US$1 billion through
Musharaka Islamic syndication. The five-year facility will primarily
be used to finance Emaar’s large-scale international projects and
complete its multi-billion dirham projects in the UAE.
The syndicated Musharaka facility is the first debt issue for Emaar
in terms of size and scope, and will be instrumental in meeting the
company’s growth needs in the near future. The pioneering
transaction is crucial in reinforcing Emaar’s ties with global
financial powerhouses that will participate in the syndication.
Mr Mohamed Ali Alabbar, Chairman, Emaar Properties, said: “The
Musharaka Islamic syndication reiterates Emaar’s Vision 2010 of
becoming one of the world’s most valuable companies through
international expansion and diversification. Working with key global
Islamic finance institutions further enhances our position in the
capital markets.”
Emaar, one of the world’s largest real estate companies, is listed
on the Dubai Financial Market and is part of the Dow Jones Arabia
Titans Index. The company is constructing the landmark US$20 billion
Downtown Burj Dubai development, which has the Burj Dubai – the
tallest tower in the world when completed in 2008 – at its
epicentre.
Emaar’s international roster of projects now spans Saudi Arabia,
Egypt, Morocco, Syria, Tunisia, Turkey, Pakistan and India. In Saudi
Arabia, Emaar is developing the US$26.6 billion King Abdullah
Economic City, a six-component project which will bring in a new era
of economic prosperity to the Kingdom. The property developer is
extending its core competency of developing master-planned
communities in the other markets apart from undertaking strategic
initiatives in education and healthcare sectors.
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About EMAAR Properties PJSC:
Emaar Properties, the Dubai-based Public Joint Stock Company and No,
1 real estate company in the world, is listed on the Dubai Financial
Market and is part of the Dow Jones Arab Titans Index.
The
company has witnessed tremendous growth since its inception in 1997
and boasts a rapidly growing tenant base with more than 13,000 homes
handed over to satisfied customers to date. Currently, it has
several major real estate projects under various stages of
development in Dubai including Arabian Ranches, Dubai Marina,
Emirates Hills, The Views, The Meadows, The Springs, The Lakes and
The Greens. The company also owns and manages the Gold and Diamond
Park.
Emaar has started construction on its most ambitious project to
date, the Burj Dubai, which comprises the Burj Dubai - the tallest
tower in the world when completed in 2008, The Dubai Mall, Burj
Dubai Boulevard, The Lofts, The Old Town, The Old Town Island, The
Residences, Burj Views, man-made lakes, landscaped parks and
gardens. The company has joint ventures and projects across the
region covering Saudi Arabia, Egypt, Syria, Morocco, Turkey, India
and Pakistan.
Last year the award winning property developer announced plans to
aggressively expand the retail sector with investments of over AED
15 billion (US$4 billion) to develop approximately 100 malls in the
mega emerging markets of the Middle East, North Africa and the
Indian subcontinent. In addition, Emaar has teamed up with Giorgio
Armani S.p.A to build and manage 10 Armani hotels and resorts across
the world; an Armani hotel will feature in Emaar’s flagship Burj
Dubai tower.
Recently the company also announced plans to expand its investments
into the education and healthcare business. The education initiative
will involve the establishment of international schools in the MENA
region and India, which will offer premium quality education and an
integrated curriculum for students ranging from kindergarten to
tertiary levels. Emaar’s healthcare diversification will see the
company invest around AED 18.35 billion (US$5 billion) over the next
decade in the MENA and South Asia markets with the construction of
hospitals, clinics and medical centres and the investment in the
provision of world-class healthcare services.
While continuing to actively pursue expansion in its core business
of innovative, high quality real estate development, Emaar has
diversified into related business lines to further build value for
its 59,000 shareholders, which includes the Government of Dubai.
Emaar owns and manages EMRILL, a joint venture with the UK-based
Carillion which provides innovative property and facilities
management services. Emaar also holds 30 per cent equity in Dubai
Bank, focused on retail and commercial banking and is the majority
shareholder in Amlak Finance, UAE’s leading Islamic home financing
company.
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