Emaar

DDA sits on handover, takes case to Court of Appeals; Emaar-MGF says it is not even allowed to enter Village.

Emaar Properties, the developer of the world’s tallest building Burj Khalifa in Dubai, as recently honoured for implementing and complying with the new UAE Code of Governance within the stipulated timeframe.

Emaar Properties awarded the winners of the fifth Emaar Best Garden Competition 2010, an annual event organized by Emaar Community Management, open to residents of Emirates Living and Arabian Ranches.

Dubai’s Emaar Properties, developer of the Burj Khalifa tower, has awarded the Egyptian subsidiary of Arabtec a $36.8m contract at its project in the north of the African country, it was reported on Wednesday.

The Dubai Land Department (LD) signed an agreement with Emaar Properties, whereby the property development company has officially joined Dubai Land Department's real estate development initiative (Tanmia) to enhnace mutual cooperation among official and unofficial institutions in Dubai to promote investment in various sectors in the emirate.

Emaar Properties has hired consultant Mc-Kinsey to conduct a strategic review of its international operations, sources said yesterday. The McKinsey review mainly relates to the developer's property segment, said the sources.

Emaar Properties rose 2.7 percent and Arabtec added 3.3 percent. This pair, together with DFM, accounted for nearly two-thirds of shares changing hands on the index, which climbed 2.4 percent to 1,631 points, its sixth straight gain and highest finish since May 24.

Dubai-based developer Emaar, best known for building the Burj Khalifa, has Dh4.2 billion worth of projects in Egypt, about 15 per cent of its book value. UAE developers and construction companies also moved into Libya, Tunisia, Saudi Arabia and Bahrain in recent years as they tried to move away from the struggles of the Dubai property market.

Dubai stocks climbed to the highest level in almost a week on investor optimism first-quarter earnings in the region will beat expectations and after oil climbed to the highest since 2008.

A group of 18 senior officials from the US Congress recently visited and toured King Abdullah Economic City (KAEC) to discuss and explore the city's investment opportunities. The delegation was received by senior executives from Emaar, the Economic City (EEC), the Tadawul-listed company developing KAEC.