Emaar

Emaar Properties PJSC, developer of the world's tallest tower Burj Khalifa, Tuesday reported net operating profit of Dh843 million ($230 million) in the first six months of 2011.

Even though some developers in Dubai have moved the Dubai court to get property owners pay their outstanding service charges, Emaar Properties is seeking to publish names of defaulters on public notice boards in their respective communities.

Dubai’s stocks on Monday dropped to the lowest level in almost six months, leading a decline in the Middle East, as unrest in the region escalated with demonstrations in Libya, Bahrain, Yemen and Morocco. Dubai Islamic Bank PJSC declined 1.8 per cent and Emaar Properties PJSC tumbled to the lowest in almost a year.

Emaar Properties, Dubai's largest developer by market value, saw an 85 per cent fall in its income from apartment sales during the second quarter, as demand for real estate continues to fall in the emirate.

Emaar and other Dubai home developers have been aggressively working to diversify their portfolios in recent years, in the wake of the downturn in the emirate. The companies are casting a wide net, trying to tap into markets with more activity than Dubai.

Emaar Properties PJSC (EMAAR) : The developer of the world’s tallest skyscraper was started with a “strong buy” recommendation and assigned a price estimate of 3.91 dirhams at Global, which cited earnings growth. The shares retreated 2.8 percent to 3.12 dirhams.

As real estate prices continue to drop in Dubai and Abu Dhabi given the ever growing oversupply of residential and commercial space, some of the UAE's top developers are looking outside the country for new markets. Emaar, Dubai's largest developer, has been focusing on projects in the Middle East and beyond.

Dubai’s Emaar Properties edged higher yesterday, shrugging off a 62% decline in fourth-quarter profit, as Middle East markets gave a muted response to the end of Hosni Mubarak’s 30-year rule in Egypt.

Dubai-based Emaar Hospitality Group’s health and fitness brand, has rewarded the winner of its weight-loss programme.

India's Kotak Realty Fund, a unit of financial services firm Kotak Mahindra Bank, has invested 2.5 billion rupees (around $53.68 million) in two projects of Emaar MGF, a top official said on Thursday. Emaar MGF is a joint venture between Indian lender MGF and Dubai's Emaar Properties, which is best known for its Burj Khalifa tower in Dubai, the world's tallest building.