Category: Business Segments

Net profit for Q3 2016 of AED 1.145 billion (US$ 312 million), 36% higher than during the same period in 2015Revenue for the first nine months of 2016 is AED 11.103 billion (US$ 3.023 billion), 13% higher than during the same period in 2015Shopping malls & retail, and hospitality & leisure businesses record recurring revenues of AED 4.278 billion (US$ 1.165 billion), 39% of the total revenueProperty sales in Dubai at AED 11.601 billion (US$ 3.158 billion), 54% higher than the same period in 2015 underlining the strong demand for homes in Emaar’s developmentsThe iconic dhow-shaped Dubai Opera, a hub performing arts in Dubai, unveiled to public during Q3 2016Unveils golf course master planned development in Dubai South with the launch of Urbana, a staked townhouse project
Dubai, UAE; November 8, 2016: Global property developer Emaar Properties recorded 19 per cent growth in net profit to AED 3.620 billion (US$ 986 million) during the first nine months (January to September) of 2016 compared to a net profit of AED 3.048 billion (US$ 830 million) during the same period in 2015.

Revenue for the first nine months of 2016 was AED 11.103 billion (US$ 3.023 billion). This is an increase of 13 per cent over the revenue of AED 9.849 billion (US$ 2.681 billion) during the same period last year.

The combined revenue from the shopping malls & retail and hospitality & leisure businesses during the first nine months of 2016 stood at AED 4.278 billion (US$ 1.165 billion), similar to same period in 2015 despite the ongoing development at The Address Downtown Dubai hotel this year. Today, these two business segments account for 39 per cent of the total revenue of Emaar.

Emaar’s international operations recorded revenue of AED 1.696 billion (US$ 462 million) during the first nine months of 2016. This accounts for 15 per cent of the total revenue.

With total sales of AED 14.689 billion (US$ 3.999 billion) during the first nine months of 2016, which is 28 per cent higher than the sales of AED 11.442 billion (US$ 3.115 billion) during the same period last year, Emaar now has a backlog of AED 47.576 billion (US$ 12.953 billion) to be recognised in the next few years. This demonstrates the financial fundamentals of the company and the continued value it will create for its stakeholders.

Positive growth in third-quarter 2016

During the third quarter (July to September) 2016, Emaar recorded a net profit of AED 1.145 billion (US$ 312 million), which is 36 per cent higher than the Q3 2015 net profit of AED 843 million (US$ 230 million).

Revenue for Q3 2016 was AED 3.846 billion (US$ 1.047 billion), 16 per cent higher than the Q3 2015 revenue of AED 3.329 billion (US$ 906 million).

A smart company for the future

Mohamed Alabbar, Chairman of Emaar Properties, said: “Our focus for 2016 has been to maximise operational efficiency and drive profitability, while strengthening our revenue stream through new developments in prime real estate assets, malls and hotels in Dubai.

“The vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, is to create a smart city of the future. This has always been our inspiration to push our boundaries and be more innovative. Dubai Creek Harbour, Dubai Hills Estate and the ongoing expansion of Downtown Dubai are examples of our commitment to create city hubs with digital lifestyle features that meet the aspirations of the future generation.”

Mr. Alabbar said that Emaar is drawing on the potential of digital technologies to enhance efficiency and customer service. “Across all our operations – from project design to development and after-sales service, we are being even more customer-oriented. With technology changing modern lifestyles, we aim to be more agile, responsive and relevant to ensure that we create long-term value for our stakeholders.”

Property sales in Dubai

Emaar recorded significant growth in property sales in Dubai, its primary market. During the first nine months of 2016, sale from its launches in its home-market accounted for AED 11.601 billion (US$ 3.158 billion). This is 54 per cent higher than the sales of AED 7.513 billion (US$ 2.045 billion) in Dubai during the same period in 2015.

The growth in investor base was underpinned by new residential launches in Dubai Creek Harbour, one of the world’s largest mega-developments; Dubai Hills Estate, a premium lifestyle community; and in Downtown Dubai. Emaar unveiled new cultural and touristic icons with the launch of The Tower in Dubai Creek Harbour and the opening of Dubai Opera in Downtown Dubai. Both have catalysed sales of residences in the two communities.

Among the new launches this year are: The Address Residences Dubai Opera, Act One Act Two and Il Primo in Downtown Dubai, premium Fairway & Parkway Vistas and Sidra villas in Dubai Hills Estate, 52/42 prime waterfront development in Dubai Marina; Creek Horizon and Harbour Views in Dubai Creek Harbour.

Emaar also commenced the sales on Emaar South its newest mega-development in Dubai South, just minutes from the Al Maktoum International Airport and in easy proximity to the Expo 2020 Dubai site, with the launch of Urbana stacked townhouses. A dedicated golf district, the nearly 7 sq km Emaar South is one of the key components of the newly planned city. Featuring more than 15,000 residences, the project will be a smart neighbourhood that will also create several hundred new jobs in the hospitality, retail and leisure sectors.

Growth in recurring revenues

Emaar Malls (DFM: EMAARMALLS), the shopping malls & retail business majority-owned by Emaar Properties, recorded a net profit of AED 1.422 billion (US$ 387 million) during the first nine months of 2016, 16 per cent higher than AED 1.221 billion (US$ 332 million) recorded in the same period last year. Revenue during the first nine months of 2016 from the malls business is AED 2.392 billion (US$ 651 million), 10 percent higher than the same period last year.

The hospitality & leisure, commercial leasing and entertainment business of Emaar recorded revenues of AED 1.886 billion (US$ 513 million) during the first nine months of 2016. The average occupancy in the flagship Address + Resorts in Dubai during the first nine months of 2016 was 85 per cent, higher than the industry average and 2 per cent higher than the same period last year. The Address Hotels + Resorts and Vida Hotels and Resorts are expanding its footprint to Bahrain, Egypt and Turkey to operate hotels and serviced residences, as well as across the UAE.

Emaar launched Rove Hotels, a joint venture with Meraas Holding, and opened its first property – Rove Downtown Dubai – to strong guest response. In all, 10 Rove Hotels will open in Dubai, adding over 3,700 rooms, in central locations across the city, just in time for Expo 2020 Dubai. The Address Boulevard Dubai, a brand new addition to the portfolio will open soon, while two new Rove Hotels are expected to be unveiled before year end.

The opening of Dubai Opera, a multi-format venue for opera, theatre, concerts, art exhibitions, orchestra and film, has also energised the hospitality business, in addition to adding to the civic pride of the city.

Emaar has assets valued at over AED 165.7 billion (US$ 45.1 billion) and a land bank of 196 million sq. m in Dubai and international markets. Emaar has handed over more than 40,865 homes to date, cementing its strong track-record in project delivery.

In a strong demonstration of its solidarity with the nation’s leadership and saluting their vision, Emaar Properties marked the UAE Flag Day today at Dubai Opera, its iconic new attraction in Downtown Dubai.

Commemorating the path-breaking efforts of the nation’s founding fathers, the late Sheikh Zayed bin Sultan Al Nahyan and the late Sheikh Rashid Bin Saeed Al Maktoum, the UAE Flag Day celebrations symbolize the nation’s colossal achievements.

Emaar’s team saluted the focus of the UAE leadership, President HH Sheikh Khalifa bin Zayed Al Nahyan; Vice President & Prime Minister and Ruler of Dubai HH Sheikh Mohammed bin Rashid Al Maktoum, and Their Highnesses the Members of the Supreme Council, for steering the nation as one of the most modern in the world, assuring every resident justice, peace, safety and security.

Emaar’s senior management accompanied the Emarati workforce, and other staff members to hoist the flag at 11am, joining governmental entities and others across the nation to pledge allegiance to the National Flag, a symbol of unity, dignity and national affiliation.

Celebrating the theme of this year’s UAE Flag Day of ‘Raise it High… Raise it Proud,’ the ceremony at Dubai Opera was a befitting tribute with the venue’s architectural design, proudly inspired from the nation’s heritage, while its cultural calendar marks the evolution of Dubai and the UAE as a hub for arts and culture in the region.

The Emaar team’s display of national solidarity was underlined by their pride in the nations many achievements, and the exemplary values that the leadership has set for every National, and resident in the country.

Global developer Emaar Properties PJSC today announced the appointment of Veresh Sita, an international technology professional with deep expertise in developing customer-oriented solutions and experiences, as its Chief Digital Officer (CDO).

Veresh joins Emaar from Alaska Airlines, where he was CIO, responsible for overseeing an organisation of 300 IT professionals and investing in the airline’s infrastructure, enterprise systems and technical innovation. He also has strong expertise in the real estate sector having worked as the CIO and CDO for Seattle-based Colliers International, helping transform its information and technology services department.

Bringing nearly 25 years of experience in information technology, Veresh is mandated with developing a new digital strategy that will drive Emaar’s growth. He will also prioritise Emaar’s technology roadmap to assure seamless customer service delivery and strengthen the company’s agility and responsiveness in a fast-changing landscape.

Mohamed Alabbar, Chairman of Emaar Properties, said: “Emaar is moving into the next era of growth centred on the new digital ecosystem that is shaping customer outlook and preferences. In today’s fast-evolving world, organisations that lead are the ones that can automate at scale, are agile and highly responsive to the needs of customers.

“With our strong international footprint and persified business competencies, Emaar’s strategy to create long-term value will be led by innovative, tech-driven business and enterprise systems. Veresh has proven global expertise in reengineering technology platforms that will contribute tremendously to the organisation’s growth.”

Veresh said: “It is an honour to lead the technology and digital transformation for Emaar Properties, a developer of architectural icons, and the pioneer in developing integrated master-planned communities. It gives me the opportunity to be part of a global company with a truly global technology mandate. Emaar’s success is led by its relentless focus on customer service excellence that will continue to be the key objective of our new digital strategy. My focus will be on building high performance teams that love working together and deliver digital transformation through customer-oriented digital platforms, automation at scale, product-based developments, and velocity & continuous service delivery.”

As CDO, Veresh will be responsible for developing systems that assure exceptional client service across multiple geographies. He will also work to deliver the highest level of IT services and availability on a day-to-day basis needed by the Group’s overall operation. He will also be a key contributor to the company’s strategic business decisions.

Veresh has also worked as Director – Global Business Systems Solutions at Starbucks Coffee Company, leading the largest business process and systems transformation in the company’s history. He has been named as ‘Best CIO of a Large Company’ by the Puget Sound Business Journal in 2013.

Born and raised in South Africa, he has a bachelor’s degree in commerce/business information systems from the University of Witwatersrand in Johannesburg, South Africa. He is involved in mentoring youth and business professionals.

The Roads and Transport Authority (RTA) has signed two MoUs with Dubai Electricity & Water Authority (DEWA) and Emaar Properties for continuing their roles in co-organizing the Dubai International Project Management Forum (DIPMF) over the next three years (2017-2019). Starting from the next edition, the Forum will see the decoration of winners of the Hamadan bin Mohammed Project Management Innovation Award. The signing of the MoUs culminates the successful partnership between the RTA, DEWA and Emaar Properties over the past three editions (2014-2016).

The MoUs were signed at the sidelines of the DIPMF which was concluded yesterday, by HE Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of the RTA on behalf of the RTA; HE Saeed Mohammed Al Tayer, Managing Director and CEO of DEWA on behalf of DEWA; and HE Mohammed Al Abbar, Chairman of Emaar on behalf of Emaar.

Al Tayer was pleased with the MoUs that signal the continuation of partnership in organizing the DIPMF, which is held under the patronage of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council. “This partnership contributes to realize the objectives of the Forum which showcases the pioneering upswing seen by Dubai emirate under the wise leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. Dubai is one of the leading cities worldwide in ensuring project management and adopting the highest international standards in constructing mega projects such as Burj Khalifa, Palm Jumeirah, Dubai Metro, Dubai Tram, Dubai Airports and giant ports, besides utilizing the outcomes of this Forum for future projects such as Expo 2020 which is expected to attract 25 million visitors, 70% of them will come from outside the UAE, and set to create more than 277,000 jobs.

Al Tayer pointed to the great success of previous DIPMF editions in terms of perfect organization, and huge attendees exceeding 2,000 participants per event. He also highlighted the various topics addressed such as engineering, construction, project management, sports, energy, environment, sustainability, future shaping, smart cities, among others. DIPMF crowned its success by launching Hamdan bin Mohammed Award for Innovation in Project Management, and winners will be honored in the 2017 edition.

For his part, HE Mohammed Al Abbar, Chairman of Emaar Properties, said: “DIPMF is a leading platform in showcasing the exceptional achievements made by Dubai thanks to adopting the best practices in undertaking mega projects.”

“DIPMF reflects the wise vision of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai aimed at cementing the standing of Dubai as a global hub for innovation in constructing infrastructure that shape the future of smart cities,” noted Al Abbar.

Based on Dubai Strategic Plan 2021 and Dubai Smart vision, the emirate has succeeded in delivering unprecedented projects that have become a source of pride, epitomizing the true values of dedication and unlimited ambition thanks to the auspices of Emaar Properties to the event, as an organizing partner.

HE Saeed Mohammed Al Tayer, Managing Director and CEO of Dubai Electricity and Water Authority was pleased with continuity of partnership with the RTA to ensure further cooperation, enhance the global reputation of the DIPMF and further up the leading standing enjoyed by the emirate of Dubai worldwide in this vital field.

“We are pleased to continue our close cooperation with the RTA to achieve the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, to enhance the prestige of global standing enjoyed by the Emirate of Dubai in the fields of finance, business, tourism, green economy and sustainability. The partnership with the RTA in organizing this Forum is part of our endeavors to achieve innovation in project management, especially green projects through sustainability of resources, besides nurturing clean, healthy and sustainable environment & green solutions, enhancing energy consumption & efficient management of solid waste, saving resources, establishing sustainable communities, and focusing on research & planning to consolidate sustainable development,” elaborated the Managing Director and CEO of Dubai Electricity and Water Authority.

Emaar Properties is celebrating more than fifty years of the launch of the James Bond franchise with an array of dazzling experiences, including the exhibition ‘Designing 007: Fifty Years of Bond Style.’

Burj Khalifa, the global icon by Emaar, will showcase the ‘Designing 007: Fifty Years of Bond Style’ exhibition from November 14, 2016, to February 13, 2017, highlighting the craft behind the cinema icon focusing on its distinctly British luxuriance.

The exhibition at Burj Khalifa ANNEX will present the design and style of the James Bond franchise and the craft behind the sets, the music, gadgets, vehicles, technology and fashion over the course of five decades. The celebration will be held across perse assets of Emaar including At The Top, Burj Khalifa, the world’s highest observation deck; Reel Cinemas and Dubai Aquarium & Underwater Zoo at The Dubai Mall and The Dubai Fountain – all in Downtown Dubai, allowing visitors to immerse themselves in the James Bond franchise like never before.

Since its successful debut at the Barbican Centre, London, in 2012, ‘Designing 007’ has been exhibited in Toronto, Shanghai, Melbourne, Moscow, Rotterdam, Madrid, Mexico City and Paris. For the first time in the Middle East visitors will be able to encounter items including Scaramanga’s Golden Gun from The Man with the Golden Gun and Daniel Craig’s wardrobe from Casino Royale, the Spectre Aston Martin DB10 and more on display.

Ahmad Al Falasi, Executive Director – Group Operations, Emaar Properties: “An architectural masterpiece that has pushed the boundaries of technology, Burj Khalifa is an ideal fit to the sheer excitement and adrenaline rush that Bond movies assure its fans. Over a period of three months, visitors to Downtown Dubai will be assured of an exceptional experience as we celebrate, for the first time in the region, the creativity and craft behind the Bond franchise. To host the 50th anniversary edition in Dubai, underlines the emergence of the city as a favourite destination for high-profile events.”

The ‘Designing 007: Fifty Years of Bond Style’ exhibition is a collaboration between the Barbican and EON Productions. The unique exhibition was curated by the Barbican, guest-curated by fashion historian Bronwyn Cosgrave and Oscar®-winning costume designer Lindy Hemming and designed by Ab Rogers who had unprecedented access to EON Production’s archive.

At ‘Designing 007: Fifty Years of Bond Style’ screen icons, costumes, production design, automobiles, gadgets, special effects, graphic design, exotic locations, weapons, stunts and props combine to immerse the audience in the creation and development of Bond style over its 50-year history.

The ‘Designing 007: Fifty Years of Bond Style’ exhibition is staged in Dubai by Colina Capital and Koutoulou Art+Events; it is brought to you by Visa in association with OSN. Ticket sales will begin from October 15, 2016.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, today marked the groundbreaking of The Tower at Dubai Creek Harbour, the brand-new icon that will be the world’s tallest tower when completed in 2020.

The groundbreaking was held in the presence of His Excellency Mohammad Al Gergawi, Chairman of Dubai Holding, Mr Mohamed Alabbar, Chairman of Emaar Properties, and other dignitaries. Providing stunning 360 degree views of the city and beyond, the Tower strengthens the UAE’s reputation for innovation and excellence in architecture, engineering and construction and will eclipse even Burj Khalifa as the tallest building in the world.

Re-defining the nation’s already spectacular skyline and setting a new global referral point, The Tower anchors the 6 sq km Dubai Creek Harbour mega-development, located just 10 minutes from the Dubai International Airport, and will serve as a magnet for tourists and visitors from around the world.

One of the world’s largest master-planned developments, Dubai Creek Harbour integrates the latest design, engineering and sustainability features. A next-generation smart hub, it will also incorporate an advanced digital lifestyle defined by the latest developments in artificial intelligence.

The waterfront development, a joint venture between Emaar Properties and Dubai Holding, is located just off the Dubai Creek, the birthplace of Dubai’s history and culture, and in close proximity to the Ras Al Khor National Wildlife Sanctuary, protected under the UNESCO Ramsar Convention. The Tower is designed by Spanish/Swiss architect and engineer Santiago Calatrava Valls.

HE Mohammad Al Gergawi said: “The Tower at Dubai Creek Harbour, which will be the tallest in the world, represents a new phase in the development vision of HH Sheikh Mohammed whereby His Highness will present to the world a new icon and to humanity a higher point in its development, adding to our national pride in our path-breaking achievements.

“The Tower is one of the outcomes of the strategic partnership between Dubai Holding and Emaar Properties which is closely followed by HH Sheikh Mohammed. It reflects the vision of His Highness to further strengthen the tourism sector, persify our economy and reinforce the sound economic stature of the UAE globally. The Tower is part of a smart city development, providing a new and distinguished lifestyle, and will be completed by 2020 along with a number of strategic and pioneering projects that are being undertaken here, setting global benchmarks.”

HE Al Gergawi added: “The groundbreaking of The Tower is another historic moment for the UAE, as we mark the construction of another icon that will add to the UAE’s civic pride. At the heart of Dubai Creek Harbour, the super-tall structure will create lasting value and serve as one of the must-visit tourist destinations in the city.

“It celebrates the long-term vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, underlined by the recently announced ‘UAE Strategy for the Future’ to drive the transformational growth of the nation. Our focus is on identifying the needs of the future, and implement sustainable plans that are impactful and make a difference. Dubai Creek Harbour is our investment in our future, and as a centrepoint of this mega-development, The Tower will enhance the reputation of our city and help boost the growth of the economy.”

Mr Mohamed Alabbar, Chairman of Emaar Properties, said: “We are thankful to His Highness Sheikh Mohammed bin Rashid Al Maktoum for his generous guidance and support in developing another global icon for Dubai. The Tower is inspired by his vision and his firm belief that in the race for excellence there is no finish-line. From Burj Al Arab, Emirates Towers, Burj Khalifa and now The Tower, Dubai has been the centre of innovation for supertall structures and breakthrough developments in design, architecture and engineering. We are pushing our boundaries in every aspect of this new master-planned development, one of the largest in the world, which underlines the spirit of positivity and hope that our nation celebrates. It will be a sterling addition to the smart city that HH Sheikh Mohammed envisages, with futuristic digital features that meet the aspirations of the next generation. We will continue to push the frontiers of engineering and construction to complete the project in time for Expo 2020 Dubai.”

The Tower at Dubai Creek Harbour supports the goals of Dubai Plan 2021 to establish the city as a global business and leisure hub, and will add real economic value by driving the growth of the core sectors of tourism, hospitality, aviation and retail among others.

Mr Santiago Calatrava Valls said: “The design and architectural features of The Tower demand unique engineering approaches that are currently being implemented on site. Extensive studies were undertaken in preparation for the ground-breaking, and the learning that we have gained from the experience will add to the knowledge base of mankind.”

With no similar super-tall structures in the world, Emaar has undertaken a completely new approach to wind-engineering and seismic tests, which have already been completed. Every aspect of The Tower is designed to the highest international standards of safety – from the choice of materials to the technology being deployed in its construction.

The crowning glory of The Tower at Dubai Creek Harbour will be The Pinnacle Room, opening to spectacular views of the city, as well as several VIP Observation Garden Decks. The Tower will have dynamic illumination and movement lighting, which will make it a stunning visual landmark during the day and night. In addition, several ‘green corridors’ will offer pedestrian access and effortless connectivity with Dubai Creek Harbour.

Emaar has unveiled high-end residences in Dubai Creek Harbour, including Dubai Creek Residences, Creekside 18, Harbour Views and Creek Horizon in The Island District. With uninterrupted views of The Tower, the homes open to premium vistas of the Dubai Creek, a stylish marina with a yacht club, the adjacent Ras Al Khor bird sanctuary and the skyline of Downtown Dubai. The 4.5km-long Creek Boardwalk envelopes the Island District, assuring residents high-end retail and leisure choices. Among the nearby amenities are event spaces, galleries, parks, fascinating water features and a trendy Vida hotel that will all add up to an unsurpassed quality of life.

Emaar Hospitality Group, the hospitality & leisure business of global developer Emaar Properties, today unveiled the first and only beachfront resort property under its flagship Address hotel brand in Dubai – The Address Jumeirah Resort + Spa, The Address Residences Jumeirah Resort + Spa and The Residences Jumeirah Dubai, Managed by The Address.

The Address Hotels + Resorts will manage the 182 room hotel, serviced residences and residential apartments in the spectacularly designed towers. At a height of over 290 metres, the majestic development, with a shimmering façade opening to the Arabian Sea, is located at the end of the Jumeirah Beach Residences in Dubai Marina. Offering an unbeatable value proposition and exceptional lifestyle choice, the thoughtfully designed residences and serviced apartments will open for sale shortly.

Appealing to both leisure and corporate travellers, The Address Jumeirah Resort + Spa is set apart by its distinctive location overlooking the Ain Dubai (Dubai Eye) and with direct access to Sheikh Zayed Road. It celebrates a never-before lifestyle choice with attractions including a rooftop infinity pool, 100 metres of beach frontage and exclusive F&B concepts including a lounge at the highest level.

Chris Newman, Chief Operations Officer of Emaar Hospitality Group, said: “The Address Jumeirah Resort + Spa will be an astonishing development that will redefine the traditional concepts of beachfront hotels. It also underlines our focus on growing as a management company through long-term contracts. While the new property’s imposing architecture will be a key draw for visitors, the proven standards of service defined by The Address Hotels + Resorts will make it a destination of choice for corporate and leisure visitors from around the world. The unparalleled views from the hotel and serviced residences, and the wide range of leisure and wellness pursuits will differentiate the property from the rest.”

Pristine Location

The Address Jumeriah Resort + Spa sits on the beach by the Arabian Sea and is next-door to The Beach with a wide assortment of high-end retail and F&B choices. Set in over 19,690 sq metres of prime property, the hotel and serviced residences will appeal to world travellers and discerning guests seeking vibrant social experiences in one of the most desirable destinations in Dubai. The property is effortlessly accessible from both Sheikh Zayed Road and Jumeirah Beach Road.

Architectural Marvel

The shimmering façade of The Address Jumeirah Resort + Spa gives a distinctive identity to the elegantly designed development. With a distinctive ‘white space’ carved out in the centre to maximise sunlight and views, the building functions as two towers with separate cores. They are connected at the base, which serves as a welcoming lobby, and at the top for penthouses and sky-lofts in addition to rooftop infinity pool opening to uninterrupted views of the sea. One tower is dedicated to the hotel and serviced residences and the other tower has the residential apartments.

Aesthetic Layout

The landscape of The Address Jumeirah Resort + Spa is broken down into terraces of greenery, outdoor lounges, restaurants and pools that cascade into each other. Pools are separated into Adult and Kids with some of them dedicated to hotel guests and others for residents. A series of grand stairways on the terraces allows visitors to walk from the beach up to the lobby level without going into the building creating a relaxed resort experience.

Inviting Interiors

Taking design cues from its location, the interiors are warm, inviting, radiating, contemporary and elegant, drawing on earth-tone colours. The hotel rooms and residences are spacious, and with distinctive spaces for working, grooming, relaxing and refreshing. All of them are fitted with high-quality fixtures and state-of-the-art entertainment and telecom connectivity.

F&B Choices

The Address Jumeirah Resort + Spa will have five F&B concepts including a lobby lounge, all-day dining restaurant, signature restaurant, beach grille and destination lounge at the rooftop. The all-day dining outlet will be connected to a pool, while the destination lounge will have a variety of seating and socialising areas.

The Spa at The Address

The Spa at The Address will be a non-traditional and luxurious experience focused in stimulating the senses of guests. The signature full-service spa will allocate several relaxation facilities, while the fitness centre will be a 24/7 concept with the latest, state-of-the-art equipment.

World-class events venues

The Address Jumeirah Resort + Spa is set to be venue of choice for social and business events. Expansive windows featuring great views of the beach will enhance the appeal of the spaces that will include dedicated board rooms and ballrooms – all with advanced technology.

The Address Hotels + Resorts is the first hotel brand launched by Emaar Hospitality Group. The premium luxury lifestyle brand has four operational hotels and two serviced residences in Dubai with five other hotels and six serviced residences currently being developed in the UAE. The Address Boulevard Dubai, the first Address hotel to open in seven years, will welcome its first guests shortly.

The Address Hotels + Resorts has also marked its entry into international markets through three hotels and four serviced residences in Turkey, Bahrain and Egypt.

Through its three hotel brands – The Address Hotels + Resorts, Vida Hotels and Resorts and Rove Hotels, Emaar Hospitality Group today operates seven hotels and two serviced residences in Dubai. The company has a strong roster of 18 upcoming hotels and 16 serviced residences in the UAE – in Dubai and Fujairah – as well as in international markets including Egypt, Bahrain, Turkey and Saudi Arabia.

Dubai, UAE; September 5, 2016: Global developer Emaar Properties PJSC today announced Emaar South its newest mega-development in Dubai South, one of the city’s most sought-after destinations of the future, just minutes from the Al Maktoum International Airport and in easy proximity to the Expo 2020 Dubai site. A dedicated golf district, the nearly 7 sq km Emaar South mega-development is one of the key components of the newly planned city.

Emaar South will be a vibrant residential and suburban lifestyle destination, serving as home to hundreds of thousands of people expected to work in the various integrated districts of Dubai South, greater Dubai area, and in close proximity to Abu Dhabi. With the 145 sq km airport city quickly taking shape, the demand for residences in Dubai South is expected to spike, which will be met by Emaar South.

In addition to people working at the Al Maktoum International Airport, Aviation District and Logistics District, Emaar South will also be a magnet for the 25 million visitors who will attend Expo 2020 Dubai, and for the millions of travellers who will fly by Al Maktoum International Airport. The airport is billed to welcome 220 million passengers annually – making it the worlds’ largest when fully completed. The current expansion will expand capacity to 26.5 million travellers annually by 2017.

Mohamed Alabbar, Chairman of Emaar Properties, said: “Emaar South is a thoughtfully planned project set in Dubai South, a purpose-built integrated urban city destination that creates a vibrant new economic platform centred on aviation and logistics services. It supports the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, to position Dubai as a smart, integrated and connected city with a wide breadth of residential choices that caters to everyone’s needs.”

He added: “The opportunities created by Dubai South will be complemented by Emaar’s new golf-course district. Through Emaar South, we are creating another world-class integrated community that is smart and sustainable, and will generate long-term economic value. We are assigning the best-in-class designers, architects and consultants for this new residential city.”

His Excellency Khalifa Al Zaffin, Executive Chairman, Dubai Aviation City Corporation and Dubai South, said: “We are happy to partner with Emaar, the region’s leading real estate developer. This association reflects the depth of our commitment to establish Dubai South as the premier destination to live, work and invest. A fully integrated, master planned city created to provide life solutions for its residents, our residential communities and real estate offerings will set a new standard in urban living.

“With Emaar’s credentials of developing integrated communities and iconic projects, the synergies between Dubai South and Emaar are a well-made match that serves to fulfill our offering of providing value-added residential products across varied price points and addressing a wider demographic.”

A Smart, Green District

Featuring more than 15,000 residences, in a mix of tiered townhomes, townhouses, villas and apartments, Emaar South is envisaged as a smart neighbourhood. In addition to being home to thousands of people, it will create several hundred new jobs in the hospitality, retail and leisure sectors.

Interconnected through tree-lined boulevards, walking & bicycle trails, and a well-linked public transport network including autonomous vehicles for clean transport, Emaar South will feature six districts anchored by an 18-hole championship golf course & clubhouse, a number of large community parks, dedicated retail precincts, 3 & 4 star hotels assuring contemporary guest experiences, and a number of fascinating outdoor pursuits. Every aspect of the development is centred on the concept of open spaces that serve as the connective element.

Other amenities that are incorporated in the masterplan include a K-12 educational institution by a premier provider and a golf villa recreational centre. Promising an urban lifestyle at a suburban pace, the new master-planned community by Emaar is designed by the guiding principles of connectivity, accessibility, livability, sustainability and optimal residential density. The golf course has been skillfully designed to maximise golf frontage views from the villas, which includes luxury homes set in the heart of the golf course.

First-look at Cityscape Global

A model of Emaar South is displayed at Emaar’s pavilion in Cityscape Global 2016 marking its first public preview. To be developed in four phases, the first phase will include tiered townhomes, villas, townhouses and apartments in addition to retail precincts. The first homes in Emaar South will be announced shortly offering investors the first opportunity to be part of this world-class development.

For more details, visit: www.emaar.com or visit Emaar’s pavilion at Hall No. 01 at Cityscape Global.

Emaar Properties has placed Dubai center stage in the fast-growing global arts industry with the pre-opening of its premier cultural destination, the multi-format Dubai Opera in Downtown Dubai, which hosted a sold-out concert by legendary Spanish tenor Placido Domingo last night.

Mohamed Alabbar, Chairman of Emaar Properties, said that Emaar has invested AED 1.2 billion (about US$330 million) to develop Dubai Opera, which will bring rich cultural and economic pidends to the city. Dubai Opera will mark its grand inauguration later this year with many new fascinating attractions including a specially commissioned public realm art and several lifestyle choices.

“Dubai Opera is our tribute to the positivity and vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, to firmly underline our city as a vibrant global cultural hub that attracts talent from around the world,” said Alabbar.

“Great performing art venues are cultural catalysts,” said Alabbar. “They increase the sense of collective identity, connect people to build social capital, strengthen the values of persity and tolerance, encourage members to participate in the arts, and promote neighbourhood cultural persity.

“With the opening of Dubai Opera, the city is now uniquely positioned to gain significant socio-economic benefits that once again highlight Emaar’s lasting contribution to the city’s economy,” he said.

“The iconic Dubai Opera complements the Dubai Tourism Vision announced by His Highness to welcome over 20 million annual visitors by the turn of the decade, and supports the cultural ambitions of Expo 2020 Dubai, which is expected to host over 25 million visitors. It also fulfils the central pillar of the Dubai Plan 2021 to build a city of happy, creative and empowered people by providing rich cultural experiences,” Alabbar added.

With Dubai fast becoming a global arts hub with a remarkable increase in the number of art galleries and arts events, Dubai Opera will catalyse the growth of the creative industries in the city, said Alabbar.

Huge Cultural and Economic pidends from Dubai Opera

Alabbar says Dubai Opera is similarly creating a vibrant growth engine for the Dubai economy. A part of the US$20 billion Downtown Dubai mega-development, which is already the world’s most-visited by welcoming an annual average 80 million visitors, Dubai Opera’s impact is defined by two pidends: Cultural and Economic.

“The performances hosted by Dubai Opera generates a huge cultural pidend for Dubai by positioning it as one of the global hubs for the performing arts industry,” said Alabbar. “The pidends are direct and indirect – the first from the benefits associated with hosting world-class events, and the second as a result of the various economic activities that support the event.”

He said that Dubai Opera’s cultural pidend is also earned by providing a platform for the next generation of talent in Dubai and assuring a world-class venue for locally produced shows.

“The economic pidend of Dubai Opera is far-reaching,” said Alabbar. “Cultural events are a stimulus for tourism and in turn contributing to the aviation, hospitality and allied sectors. With its year-round calendar of high profile events by world-class performers, Dubai Opera will further attract visitors to Downtown Dubai, which has already delivered on its promise as ‘The Centre of Now.’”

Typically, the economic value of Dubai Opera will come from four channels, explained Alabbar. “The first channel is revenues from the performances and from F&B and other retail at the precinct; and the second are revenues from tourism – resulting from visitors travelling into Dubai to watch the shows.”

Aviation, hospitality and retail outside the venue comprise the third revenue stream; while the fourth is the local cultural ecosystem of local production houses and support agencies that create thousands of new jobs for creative professionals.

Legends such as Placido Domingo serve as magnets for cultural tourists with fans travelling wherever he goes. Cultural tourism is today one of the fastest-growing areas of global tourism. It is estimated that cultural or heritage activity is the sole purpose of nearly one in five European tourists, while culture forms a key feature of the trip of 80 per cent of US travelers.

Creative industries as growth catalyst

Today, creative industries are seen as powerful growth drivers for economies the world over. Large-scale cultural productions account for 4.5 percent of Europe’s GDP and 8 per cent of its employment.

A 2015 report by the Bureau of Economic Analysis states that creative industries in the US contribute US$698 billion to the national economy and provide jobs to more than 4.7 million people. In the UK, the creative scene that includes film, television and music is estimated to be worth US$116.7 billion per year in terms of contribution to the national economy.

At the micro level, inpidual creative enterprises have recorded invaluable economic impact. A report by Deloitte states that the Sydney Opera House contributes US$775 million to the nation’s economy every year, and has generated 8,439 full-time jobs. The study says that it has a cultural and iconic value of US$4.6 billion, with over 1.4 million annual visitors with nearly 2,000 performances.

Many cities today regard cultural policy as economic policy. For example, the Pennsylvania Cultural Data Project, analysing the impact of the cultural sector of Philadelphia, identifies that arts, culture and creativity are an economic engine generating US$3.3 billion in jobs, household income and tax revenue.

An architectural masterpiece featuring a dynamic façade inspired by The Dubai FountainHomes open to spectacular views of Burj Khalifa and Mohammed bin Rashid BoulevardExclusive launch of exceptionally designed homes in London on August 10 and in Dubai on August 11
Live next door to the most culturally vibrant destination in the city with Emaar Properties today unveiling an exclusive collection of residences located adjacent to the stately Dubai Opera, the iconic centerpiece of The Opera District in Downtown Dubai.

The all-new ‘Act One | Act Two’ residences are seated in exceptionally designed 52- and 46-storey towers that take their façade design cues from the rhythmic sway of The Dubai Fountain. The homes open to spectacular views of Burj Khalifa and the bustling Mohammed bin Rashid Boulevard.

Residents will have the unbeatable lifestyle of being close to Dubai’s never-before multi-format venue for performing arts, concerts, theatre, operas, art exhibitions, film events and more. They are also in walking distance of The Dubai Mall, the world’s largest retail and entertainment destination. Scheduled to open soon, Dubai Opera will be a magnet for arts and cultural enthusiasts from across the world, who will be drawn to its amazing repertoire of year-round events.

Act One | Act Two will be launched internationally with a dedicated sales event in London on Wednesday, August 10, at Harrods followed by the Dubai launch on Thursday, August 11, 2016 at the Emaar Sales Centres.

Apply named to capture the dynamism of living right where all the action is, Act One | Act Two feature just 718 residential units including one, two, and three-bedrooms, and a limited collection of penthouses located on the highest two levels. A dedicated promenade opens to the majestic view of the Dubai Opera with high-end retail and exclusive cafes, and rich amenities including a health club, spa, infinity pools and swimming pools are a part of the Act One | Act Two lifestyle.

Ahmad Al Matrooshi, Managing Director of Emaar Properties, said: “Act One | Act Two are truly a defining destination of choice for all culturally inclined as they now have the unique value proposition of living right next door to Dubai Opera. A premium development that celebrates the vibrant cultural lifestyle of the city, the residences bring a one-of-a-kind lifestyle choice to the city. The international launch of the project underlines the strong demand from discerning investors who cherish the inspired way of life that Act One | Act Two brings.”

Act One | Act Two design is unparalleled in Dubai with the façade featuring a horizontal and vertical stepping, each creating stunning views of Burj Khalifa and The Dubai Fountain. A podium connection to Burj Khalifa is the highlight with majestic vistas of the tower emerging as they pass beneath the podium on foot. A variety of swirling roof terraces and balconies not only lend an architectural flourish to the project but also assure unmatched views, more so from the L-shaped terraces of the penthouses.

The launch follows the earlier investor interest to the Dubai Grand and Forte residences in The Opera District, a stylish cultural destination that features luxury hotels, elegantly designed homes, a retail plaza, waterfront promenades and parks. The 2,000-seat multi-format Dubai Opera is as iconic in appearance as the Sydney Opera House, and takes design cues from the classic wooden dhows.

In addition to the spacious, well-lit design of the residences, Act One | Act have world-class fixtures and a wide range of services including 24-hour concierge and security. The homes will usher in a remarkable lifestyle for residents who will live in the most-happening destination in the city – Downtown Dubai.

For more details, please contact: please contact +9714 366 1688 (International) or 800 36227 (UAE), or email: Sales_Enquiry@emaar.ae.

Emaar offers long-term investors and end-users the opportunity to register for the Emaar Preferred Access programme, at www.emaar.com. More information on the project is also available through the new ‘Online Sales Centre’ feature on Emaar’s e-Services App that can be downloaded on iPads and iPhones.