Emaar Properties, a global developer with significant presence in 15 countries, is showcasing a cross-section of its prestigious projects at MIPIM 2007, the world’s premier real estate summit to be held from March 13 to 16 at the Palais des Festivals, Cannes.
Making its fourth consecutive presence at the international event, Emaar will highlight the company’s flagship project, Burj Dubai, alongside King Abdullah Economic City in Saudi Arabia and master-planned communities in India and Morocco.
“Emaar’s participation in MIPIM 2007 complements our developmental initiatives, which are now aligned internationally,” said Mr Issam Galadari, Managing Director, Emaar International, Middle East and North Africa. “As a global marketplace hosting the world’s high-profile developers and potential investors, MIPIM is a perfect venue for further building our growth momentum. It also positions Dubai’s architectural capabilities and cosmopolitan character to a global audience.”
This year, Emaar has significantly enhanced its participation at MIPIM by 2.5 times. Key attractions at the company’s pavilion will include Burj Dubai, on its course to become the world’s tallest tower. “Burj Dubai has scaled over 110 levels and is already in the international spotlight,” said Mr Galadari. “International response to Burj Dubai, following our participation at MIPIM, in the last two years has been strong. We expect MIPIM 2007 to further enhance investor appeal for the project, which will house the Armani Hotel, Dubai that marks our collaboration with Giorgio Armani S.p.A to open luxury hotels in major cities.”
Another highlight of Emaar’s participation at MIPIM is the first exclusive display in Europe of King Abdullah Economic City, the single largest private sector development in Saudi Arabia by Emaar, the Economic City. “KAEC offers investment opportunities in several economic sectors such as industries, retail, hospitality, education and property, and will be of interest to investors who look for viable options in the Saudi market,” added Mr Galadari.
The master-planned projects of Emaar in Morocco – Amelkis II and III, Bahia Bay, Oukaimeden, Tinja and Saphira; Tuscan Valley in Turkey and the various residential and hospitality projects in India will also be showcased at MIPIM. “In Morocco, Emaar is creating value-added lifestyle communities through a Memorandum of Understanding signed with His Majesty King Mohammed VI, King of Morocco, and a joint venture with the ONA Group. Apart from strong regional partnerships in India, Emaar has also signed a joint venture with the Accor group to develop 100 luxury hotels in the country,” said Mr Galadari.
Emaar is a lifestyle developer with diversified interests in education, healthcare, finance, retail and hospitality. The company posted record profits of AED 6.731 billion (US$ 1.735 billion) in 2006 – an increase of 35 per cent over year 2005.
About Emaar Properties PJSC:
Emaar Properties PJSC is one of the world’s largest real estate companies and is rapidly evolving to become a global provider of premier lifestyles. Powered by its Vision 2010 to become one of the most valuable companies in the world, Emaar is charting a new course of growth with a two-pronged strategy of geographical expansion and business segmentation.
Replicating its successful business model in Dubai, Emaar is extending its expertise in creating master-planned communities to international markets. Emaar is also developing new competencies in retail, hospitality and leisure, education, healthcare, finance and industry, which have evolved from its integrated approach to customer service and property development.
Listed on the Dubai Financial Market, part of the Dow Jones Arabia Titans Index and certified to ISO9001:2000 for quality standards, Emaar is developing Burj Dubai, on its way to become the world’s tallest tower, and The Dubai Mall, the world’s largest shopping and entertainment destination. In Saudi Arabia, Emaar is developing King Abdullah Economic City, the Kingdom’s largest private sector project. Emaar’s portfolio currently covers the following countries: the UAE, Saudi Arabia, Jordan, Syria, Lebanon, Morocco, Turkey, Libya, India, Pakistan, the US and the UK.
A multiple-award winning developer, Emaar has strengthened its product sale competencies, market reach and best practices through strategic acquisitions and joint ventures. Emaar acquired John Laing Homes, America’s second largest privately held home builder; Hamptons International, UK’s premier real estate company; and formed a joint venture with Turner International to strengthen execution capabilities.
Emaar has joined hands with Giorgio Armani and Accor Hotels to strengthen its presence in hospitality, and will launch ten luxury resorts and hotels world-wide and 100 budget hotels in India. The company is opening educational institutions and healthcare centres in South Asia, Middle East and North Africa and the Subcontinent. Emaar acquired Singapore-based leading education provider, Raffles Campus, to extend expertise to its educational institutions.
Emaar holds 30 per cent equity in Dubai Bank, focused on retail and commercial banking. Emaar is also the largest shareholder in Amlak Finance, UAE's leading Islamic home financing company. For more information, visit www.emaar.com.
