Emaar

Emaar Properties fell on Monday as the Dubai Financial Market’s General Index ended lower for a first session in five, with worries about unrest in Bahrain and downbeat global sentiment following Japan’s earthquake spurring traders to sell.

Al Khobar Lakes, the premier waterfront development by Emaar Middle East, the subsidiary of Emaar Properties PJSC, has won the ‘Best Retail Project’ honour at the Saudi BuildInfra Awards 2011, organised as part of the Saudi Arabian Building and Infrastructure Summit held in Riyadh recently.

The property bellwethers Emaar Properties and Arabtec Holding surged yesterday as UAE markets staged a recovery from losses earlier in the week.

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.

Hamptons MENA, a premier property services company with a strong geographic presence in the Middle East and North Africa region, is showcasing residences in Beverly West, the luxury residential tower developed by Emaar Properties in Los Angeles, USA.

Emaar in conjunction with the Dubai Shopping Festival is proud to host the finale of the 2011 DSF Carnival. Witness a spectacular parade with international performances ranging from floats, percussionists, acrobats, dancers and more. The DSF Carnival occurs daily from 17 – 19 February from 6:30 to 7:30 pm, on Emaar Boulevard in Downtown Dubai.

Emaar Properties, the largest property developer in the region, reported its fourth quarter profits drop by 62 per cent to Dh274 million compared to the same period in 2009 after two partly-owned companies wrote down the value of their assets and costs rose.

Emaar Retail is offering lovebirds in the country a chance to wish their Valentine on the big screen, in 70mm. Emaar Retail, which manages Reel Cinemas, the flagship 22-screen cinema at The Dubai Mall, as well as at Dubai Marina Mall, said in a statement that for a fee, it is offering moviegoers in the emirate a chance to “make an announcement on February 14 with a personalised Valentine’s Day greeting on the big screen for only Dh300.”

Emaar Malls Group, for instance, the shopping malls and retail subsidiary of Emaar Properties and one of the largest developers of premium shopping and entertainment destinations in the region, is seeing increased visitors’ footfalls across all of its malls in Dubai.

Orascom Construction Industries (OCI), Egypt’s largest general contracting firm, has signed a deal with Emaar Misr for two projects worth a combined $141m. Emaar Misr, a wholly owned subsidiary of Dubai-based developer Emaar Properties PJSC, has appointed OCI to complete work on its Mivida residential development in New Cairo and villas at its Marassi project on the north coast of Egypt, North residential projects.