Emaar Properties PJSC, the world’s number one property developer, recently took part in Wallpaper’s Global Edit 10th anniversary exhibition along with Giorgio Armani, renowned architect Zaha Hadid and a host of design talent from 10 countries worldwide.
The exhibition ran alongside the famous international furniture fair Salone de Mobile that is held in Milan annually and is one of the most significant events on the interior design and furniture calendar. As developers of the iconic Burj Dubai, the tallest tower on completion in 2008, Emaar created an installation within the Armani/Teatro that exhibited a 3 metre model of the tower and described the tower’s architectural design.
Exhibiting alongside the Armani/Casa, the home interiors collection designed by Giorgio Armani, its hotels and resorts partner, Emaar took the opportunity to promote one of the world’s first Armani hotels which will be housed in the record breaking tower. The Armani Hotel Dubai will set new standards of luxury in the region and will be synonymous with the ultimate lifestyle experience. In addition to the hotel, there will be 144 luxury residences also designed by Giorgio Armani, featuring a dedicated line from his Armani/Casa home furnishings collection.
Mohamed Ali Alabbar, Chairman of Emaar Properties, while attending the event said: “Wallpaper’s Global Edit exhibition offers the perfect setting to display the Burj Dubai tower not only as history in the making, but to show the design of the Burj Dubai and the historical and cultural influences that have been combined with cutting edge technology to achieve a high performance building which will set new standards for the industry worldwide and which will become the model for the future of the city of Dubai.”
“We are pleased to work together with Giorgio Armani at prestigious events like Global Edit and look forward to our growing relationship as we progress with the roll-out of our unique worldwide collection of luxury hotels and resorts,” Alabbar added.
With the help of the internationally renowned architect Zaha Hadid, Wallpaper’s Global Edit event transformed Armani’s famous Teatro into an extraordinary exhibition; mixing original design talent from 10 countries – including Austria, the Benelux countries, Brazil, Canada, India, Japan, Scandinavia, South Korea, Spain and Turkey. Wallpaper’s editors took the best undiscovered design talent from each region and provided it with its own space or forum within the exhibition. The overall look of the exhibition was tied together cohesively by Zaha Hadid’s startling futuristic installation.
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 recently announced that its net profits for the first quarter ended 31 March 2006 reached AED 1.517 billion (US$406.9 million) – an impressive rise on the AED 1.325 billion (US$355.4 million) for the equivalent period. Gross profit for the same period reached AED 1.487 billion (US$398.8 million) compared to AED 1.435 billion (US$384.9 million) achieved during the same period last year.
Emaar’s net profits for the year ended 31 December, 2005 climbed 180 per cent, to a record AED 4.731 billion (US$1.288 billion). The figures represent a substantial increase on the AED 1.691 billion (US$460 million) for the year 2004.
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 AED 73 billion (US$20 billion) Burj Dubai development, 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. For further information, please visit www.emaar.com.
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