As a series of glamorous events this week in Dubai attract the fashion world’s heavyweights, Emaar, the Middle East’s biggest developer, has announced its plan to launch a US $100 million fund to support emerging design talent in the Middle East.
September 5, 2013: Emaar Properties PJSC, the global developer of iconic projects, has joined forces with Lotus F1® Team as its 'Official Partner.'
The builder of the world’s tallest structure — Burj Khalifa — recorded fourth quarter revenues of Dh2.680 billion as net profit reached Dh512 million. The contribution of Emaar’s international operations to the total revenue was Dh1.264 billion, representing 15 per cent of the total revenue. “International revenues were reinforced by the handover of homes and offices in Turkey, Lebanon, Saudi Arabia, Egypt and Pakistan, among other markets,” the master developer said.
This is an era of transformation. New social and economic realities are challenging governments and businesses to realign their priorities and focus, like never before, to the needs of their stakeholders.
The Address, Emaar’s hotel management company, operates five hotels owned by the Dubai-based parent company in the city. Hotel occupancy rates in the Dubai averaged 75 percent in 2012, among the highest in the world, after conflicts elsewhere in the Middle East and North Africa drove more Gulf tourists to the emirate, according to STR Global.
Emaar Properties PJSC (EMAAR), the developer of the world’s tallest tower in Dubai, obtained a $500 million loan from a group of banks to develop a mixed-use project in Turkey, its second such venture in the country.
Al-Futtaim Group and Emaar Properties, two real estate developers from the United Arab Emirates, plan a LE 5 billion tie-up to build a retail and entertainment complex outside Cairo, Al-Futtaim said on Tuesday.