Emaar

UAE; January 15, 2010: Classic car collectors can now register their cars for the annual Downtown Dubai Classic Car Show, organised by Emaar Properties at Emaar Boulevard in Downtown. Following the huge success of the show in 2009, the second Classic Car Show will be extended to four days from February 18 to 21, 2010.

Raffles International School, the educational provider led by Emaar Education, has opened two new nurseries in Dubai Marina and The Lakes, two of the established master-planned communities by Emaar Properties PJSC.

Mohamed Alabbar is not planning to step down from his role as chairman of property firm Emaar, despite spending an increasing amount of time on a private mining company.

The rich heritage and colourful legacy of classic cars is once again on display in Downtown Dubai. The second Downtown Dubai Classic Car Show will be celebrated over four days this year following overwhelming participation from the public and classic car enthusiasts last year.

Dubai-based Emaar Properties, the region’s largest real estate development company, today revealed that property sales in the first quarter of this year fell by 79.65 per cent compared with the same period last year, pushing the company’s net profits down 45 per cent.

The company’s annual revenue for 2011 reached AED 8.112 billion (US$ 2.209 billion). With The Dubai Mall, the flagship development of Emaar establishing itself as the world’s most visited shopping and tourism destination marking record visitor arrivals of 54 million in 2011, the shopping malls & retail business of Emaar contributed AED 2.14 billion (US$ 583 million) to annual revenues, representing 26 per cent of the total.

Claiming victory, the state government has said that Dubai-based Emaar Properties PSJC has agreed to restore the 26 per cent share in the Emaar Hills Township to AP Industrial Infrastructure Corporation (APIIC) as per the agreement reached between the two entities.

Under the partnership agreement, Dammann Freres will be the exclusive brand of tea available at three locations including The Address Dubai Marina, The Address Dubai Mall, and The Address Downtown. Guests will have a chance to experience Dammann Freres at various locations including guest rooms, hotel lobby and all F&B outlets.

Emaar Properties, the developer of the world’s tallest building, plans to issue a benchmark dollar bond and pricing is expected to be announced on Thursday (today), according to sources. Last week, the developer announced that the company had hired top three global banks to arrange fixed-income meetings ahead of a possible bond issue.

Both residential developments are popular among expatriates and have their own fan base, say experts. Arabian Ranches and Springs, both popular residential communities developed by Emaar, are neck and neck when it comes to preference among the expat community.