Category: Business Segments

140-room Address Marassi Beach Resort is among 14 upcoming Address Hotels + ResortsA part of Emaar Misr’s Marassi, hotel project has an idyllic location overlooking the turquoise waters of Sidi Abdel Rahman Bay
Address Marassi Beach Resort, the second hotel project by Emaar Hospitality Group in Egypt, is redefining the standards of world-class hospitality with its idyllic waterfront location by the Mediterranean Sea, overlooking the turquoise waters of the Sidi Abdel Rahman Bay.

An integral part of Marassi, the master-planned touristic and residential development by Emaar Misr (EGX: EMFD.CA), Address Marassi Beach Resort was unveiled earlier this year at the Arabian Travel Market in Dubai. Featuring only 140 luxury rooms and suites, along the North Coast of El Alamein, the hotel is one of the 14 upcoming projects under Address Hotels + Resorts, the premium luxury hotel and serviced residences brand of Emaar Hospitality Group.

With five operational hotels in Dubai, Address Hotels + Resorts has positioned its properties as a choice perfect for business, leisure and group travellers. Positioning its messaging as ‘Where life happens’, Address offers a more personal and engaging experience to guests in a premium lifestyle environment, enriching the lives of its guests with luxury, style and elegance.

Olivier Harnisch, Chief Executive Officer of Emaar Hospitality Group, said: “Address Marassi Beach Resort is one of our prestigious international developments set along the Mediterranean coast and integrating the assorted lifestyle amenities of a central marina. The hotel is designed and developed to high standards of design and quality, and focuses on providing memorable holiday and leisure experiences for our guests. Bringing the brand values of gracious hospitality, exceptional service and unique value for guests, Address Marassi Beach Resort will further energise tourism to Marassi and contribute to the national economy supporting the development vision of the government.”

Address Marassi Beach Resort offers spectacular views of the waterfront with its interiors radiating contemporary elegance that uses earth-tone colours. Rough stone work, warm wood textures and smooth transparent glass contrast throughout the hotel to present dramatic finishes. The grounds are landscaped with creativity and sensitivity. A full range of experiences are provided from quiet sitting areas, private function spaces and interesting, meandering paths dotted with features.

Emaar Hospitality Group is also operating Address Marassi Golf Resort + Spa in Egypt, which will offer 49 luxurious and spacious rooms and suites overlooking the 18-hole golf course. Strongly influenced by classic Tuscan-style architectural features, the luxury resort will have restaurants, a spa and pool. Part of the project is Address Residences Marassi Golf Resort + Spa with only 68 Tuscan-style serviced residences and a further 20 branded residences benefiting from onsite restaurants, health spa, fitness club and swimming pool.

A true Mediterranean destination, Marassi is accessible from the Burj El Arab and El Alamein airports, both of which offer direct connections to major European cities. The resort has a marina, golf course, and daycare facilities. The first phase of the Marassi Beach Clubhouse is already open to the public. Emaar Misr has also completed the renovation of the historical Alamein Hotel, which has boosted the number of tourists to the region.

The upcoming international footprint of Address Hotels + Resorts includes: Jabal Omar Address Makkah in Saudi Arabia; Address Istanbul and Address Residences Emaar Square Istanbul in Turkey; and Address Marassi Al Bahrain. Emaar also owns and manages a portfolio of hospitality assets and under Vida Hotels and Resorts, an upscale lifestyle hotel and residences brand; and Rove Hotels, a contemporary midscale hotel and residences brand.

Located above Dubai Aquarium & Underwater Zoo’s main tank, the new OLED screen received three Guinness World Records titles

Emaar Entertainment, the leisure and entertainment subsidiary of Emaar Properties, has unveiled a record-breaking organic light-emitting diode (OLED) screen above Dubai Aquarium & Underwater Zoo.

The screen has successfully received three Guinness World Records titles, in partnership with LG; another exciting advancement in Emaar Entertainment’s ongoing commitment to providing world-class edutainment using innovative platforms.

The screen should be seen to be believed, setting records for being the largest and the highest resolution: Largest OLED screen, Highest resolution video wall and Largest high-definition video wall.

Comprising over 820 flexible, OLED panels, allowing the screen to emit light without the need for backlighting, with the thin and flexible high-definition screen providing wider viewing angles, to make the most of the breathtaking images and captivating colours. Truly unique to the Flexible Open Frame OLED signage from LG, the screen is able to curve, mimicking the rolling waves of the ocean, a perfect complement to the underwater creatures at Dubai Aquarium.

Maitha Al Dossari, Chief Executive Officer of Emaar Entertainment, said: “Emaar Entertainment continues to push the boundaries and achieve greater heights through innovative installations and attractions. We’re committed to delivering the best in the industry and are honoured that the new OLED screen at Dubai Aquarium & Underwater Zoo has received three Guinness World Records achievements, underpinning our commitment to pioneering innovative attractions, continued advancements in technology and digital attractions, and inspiring joy.”

Commenting on the record, Talal Omar, Guinness World Record’s Country Manager – MENA, said: “We are very excited that Emaar Entertainment and LG have set multiple records today with the Largest OLED screen, Highest resolution video wall and Largest high-definition video wall. The multiple records perfectly complements the advanced technology that we know Dubai is known for, Guinness World Records congratulates Emaar Entertainment and LG. We are proud that Guinness World Records was able to yet again provide a platform to recognise and share amazing moments, always eager to showcase these records, and give companies or individuals a chance to be a part of an ‘officially amazing’ experience.”

The record comes following the 2015 achievement by Emaar Entertainment, where Dubai Ice Rink and World Top DJ broke the Guinness World Records for Longest DJ relay. Emaar Entertainment is raising the bar in unique entertainment offerings, adding attractions such as the OLED to its vast repertoire of inspiring and enjoyable attractions. Visible from the Ground Floor at The Dubai Mall, Level 1 and Level 2, the new OLED screen at The Dubai Mall is now on display above the main tank at Dubai Aquarium & Underwater Zoo.

All-new Golf Links community, located along the 18-hole golf course, features exclusive collection of only four and five-bedroom villas ideal for familiesEmaar South is a 7 sq km development only minutes away from Al Maktoum International AirportSale of Golf Links homes to commence on July 25
With demand for family homes gaining strength in Dubai, Emaar South, the 7 sq km development by Emaar Properties PJSC and its joint venture partner Dubai South, have launched an exclusive collection of elegantly designed villas located along an 18-hole championship golf course.

The new Golf Links neighbourhood is the first-of-its-kind villa community in Emaar South, one of the sought-after residential destinations in the city in Dubai South, located only minutes from the Al Maktoum International Airport, and near the site of Expo 2020 Dubai. Golf Links is set apart by its focus on family living, offering only four and five-bedroom golf villas that overlook the greens, have extensive backyards, and assure a serene lifestyle away from the bustle of the city.

Following the successful launch of Urbana and Golf Views in Emaar South, which brings the first villa-like-house experience to Dubai, Golf Links has been thoughtfully designed to meet the lifestyle aspirations of large families. Appealing to the discerning customers and those with a passion for golf, the new neighbourhood has several value-added amenities including a recreation centre and family park. Assuring privacy and security, the gated neighbourhood will particularly appeal to those who will become part of the vibrant Dubai South district.

Ahmad Al Matrooshi, Managing Director of Emaar Properties, said: “Golf Links in Emaar South is one of the prestigious villa developments tailored for families and golf enthusiasts. As the new hub for aviation and logistics, Dubai South is set to become a thriving residential and commercial district, and we are offering a truly special lifestyle experience with Golf Links. Every aspect of the community – from its design and architecture to the layout and amenities – is being created to deliver a home of choice for families who benefit from a central location and a serene setting.”

The G+1 four-bedroom villas in Golf Links have a built-up area of approximately 275 sq m (over 2,950 sq ft) while the five-bedroom homes are spacious at approximately 356 sq m (more than 3,840 sq ft). Featuring living and dining areas, open-kitchen with built-in cabinets and breakfast counter, walk-in wardrobe cabinets in the master-bedroom and built-in wardrobe cabinets in all others, the residences will have covered parking for two vehicles. The 5-bedroom villas will also feature family lounge areas in the ground and first floor, while a powder room, house-help room and storage room are standard for all. Adding to the lifestyle choice of residents, all villas have private yards and garden areas, and the provision for swimming pools.

The neighbourhood amenities also include fitness areas, swimming pool, children’s play area, barbeque area and a multipurpose room, among others. With 24×7 security and maintenance support, residents become part of a neighbourhood that upholds the highest standards of safety and well-being.

Sales of Golf Links homes will commence on July 25, 2017. Customers can visit the online sales centre at www.emaar.com or the Emaar Sales Centre in Downtown Dubai, Dubai Creek Harbour Sales Pavilion in Ras Al Khor, Dubai Hills Estate Sales Pavilion in Umm Suqeim Road, Emaar Sales Centre in Abu Dhabi at the Al Nahda Tower on 4th Street, Corniche. The sales centres are open from Saturday to Thursday, 8.30am to 6pm. For more information, please call: 800 36227 (UAE) or +9714 366 1668 (International).

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.

With more than 75,000 residences, in a mix of tiered townhomes, townhouses, villas and apartments, Emaar South is envisaged as a smart neighbourhood. It will be interconnected through tree-lined boulevards, walking & bicycle trails, and a well-linked public transport network including autonomous vehicles for clean transport.

PART OF THE #CHALLENGEALSDXB CAMPAIGN BY EMAAR IN SUPPORT OF EMPLOYEE, DRIVING AWARENESS OF THE NEURODEGENERATIVE DISORDER
When Peter Van Wyk, Senior Director of Hospitality Development at Emaar was diagnosed with Amyotrophic Lateral Sclerosis (ALS), a progressive neurodegenerative disorder, he was determined to find a way to raise money for research and heighten awareness of the disease in the UAE.

Emaar Properties stepped up support to Peter’s cause by conducting an organisation-wide #CHALLENGEALSDXB campaign that gained positive response with employees buying and wearing the specially created badges for the ALS campaign, and the funds raised going to the Al Jalila Foundation.

To date over AED 20,000 has been raised through the SMS donation line largely through the Emaar network. Emaar employees were also encouraged to change their WhatsApp and social media profile pictures to the #CHALLENGEALSDXB logo.

Coinciding with the Holy Month of Ramadan, Emaar Foundation, the corporate social responsibility arm of Emaar Properties, also organised a charity iftar and art auction to further support the cause. Funds raised from the event, that witnessed the auction of artworks by eL Seed, Mattar Bin Lahej, Beth Cullen Kerridge, Anna Masters, Petr Weigl, Ben Barrell, Fadi Sarieddine, and Khalid Shafar together with a number of local artists, were contributed to Al Jalila Foundation for much-needed research into ALS and to support ALS patients in the UAE. The charity event took place at Armani Hotel Dubai, with over 300 people attending.

The auction raised a total of US$87,725 (over AED 322,000). Emaar doubled the funds to a total of US$175,450 (over AED 644,000). All proceeds from ticket sales for the event will also be contributed to Al Jalila Foundation.

Mohamed Alabbar, Chairman of Emaar Properties, said: “The courage and resolve of Peter to fight ALS and to champion the cause of ALS awareness is deeply inspiring. As an organisation, committed to its employees and the community, we believe it was important that we extend our whole-hearted support to Peter. I thank all our employees for their overwhelming participation in the #CHALLENGEALSDXB campaign. This is a great example of how, by working together, we can make a positive difference to the world.”

Peter Wan Wyk said: “It is heartwarming to see the support extended by my Emaar family and their commitment to raise awareness for ALS. Being diagnosed with ALS was difficult but I decided that it was important for the world, especially the region here, to know more about the condition so that it helps people be vigilant about the symptoms. The campaign by my colleagues at Emaar and the support extended by Al Jalila Foundation are invaluable. Together, with such initiatives, we can raise awareness for ALS and support people with the condition to manage it better.”

Dr. Abdul Kareem Sultan Al Olama, Chief Executive Officer of Al Jalila Foundation, said: “Emaar’s initiative is truly noble, as it not only helps support people with ALS but also enables more medical research into the condition. At Al Jalila Foundation, we are committed to making a positive difference to the lives of people, and value such initiatives that are key to rallying public awareness for conditions such as ALS.”

Dr. Abu Bakr Al Madani, Head of Neurology at Rashid Hospital and Vice President of Emirates Neurology Society who is treating Van Wyk, said: “Peter has been extraordinary in his resolve not to bow down to the condition but to take up the task of raising awareness for ALS. I congratulate him for his determined fight against ALS, and also thank Emaar and Al Jalila Foundation for their invaluable support.”

A motor neuron disease, ALS is a rare condition that affects the nerve cells (neurons) responsible for controlling voluntary muscle movement which ends up in total paralysis and eventually death. The condition is progressive and there is no effective cure or treatment to halt or reverse the progression, according to the National Institute of Neurological Disorders and Stroke. Awareness of the condition is critical, as medical research says, identifying early symptoms can help in preventing complications and living with the condition easier.

To continue raising awareness, Emaar Hospitality Group’s Chief Executive Officer, Olivier Harnisch will revive the ice bucket challenge and encourage people to make a donation to Al Jalila Foundation via SMS. Olivier has challenged the team at Rove Downtown and his former employer Carlson Rezidor in the UAE to take up the challenge. The campaign will continue throughout the summer.

The #Building_Communities campaign by Emaar Properties to mark the Holy Month of Ramadan has entered its final week. Love a little, share a little and give a little, and post details of your random acts of kindness on Emaar’s social media networks. The most touching story will receive AED20,000 to be given to a charity of the winner’s choice.

This is part of an innovative social experiment, whereby people are urged to share their stories of kindness; these could range from leaving a friendly note at someone’s desk to donating time to a local charity or even helping a stranger in need.

Emaar has also shared short videos on its social networks to highlight the stories of people who have made a positive change through their charity initiatives. Featured are Ahmed Haweel, Ifraz Ahsan and Anushree Unakal, three students who decided to ‘give’ their time by visiting patients at Mediclinic Dubai Mall, to spread positivity and make the patients as happy as possible.

Further inspiring you to volunteer your time and effort for a good cause is Dr. Shambavi Rajagopal, founder of Save Scrap N’ Sew. The non-profit organisation takes scraps of unused materials from tailors and stitches them into useful items that are given away. It builds on Dr. Shambavi’s passion to lend a personal touch to a charitable deed.

Emaar has placed over 1,000 #Building_Communities boxes across its assets, each with gift vouchers valued at AED 100. The boxes have instructions on the charitable deed to be done, which could be anything from buying a stranger a present using the voucher or gifting it to a person in need. The voucher can be used at The Dubai Mall, Address Hotels and restaurants, Reel Cinemas as well as all other Emaar businesses.

#Building_Communities complements the ‘Year of Giving’ announced by UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan, with a focus on supporting less privileged communities through charitable initiatives.

Follow and participate in the campaign on Emaar’s social networks with the hashtag #Building_Communities

Emaar’s community residents came together once again to mark the spirit of sharing, caring and togetherness this Holy Month of Ramadan.

Emaar Community Management joined hands with them to host an Iftar for service providers of Emaar’s integrated neighbourhoods.

Residents of The Springs, The Meadows, Emirates Hills, The Lakes and Hattan hosted the Iftar on the lawns behind Springs 15. By ‘serving the providers,’ Emaar Community Management and residents demonstrated their thankfulness to the community workers for their hard work in the upkeep of the neighbourhoods. They were also welcomed by Ahmad Al Matrooshi, Managing Director – Emaar Properties and Jeevan D’Mello, Chief Customer & Community Officer – Emaar Properties.

The event was part of the #BuildingCommunities campaign being organised by Emaar Properties with the goal of encouraging people to undertake random acts of kindness and make a positive difference during the Holy Month.

Fostering community spirit, #BuildingCommunities has successfully brought together Emaar’s community residents, who volunteer in hosting the Iftar as well as take part in charitable initiatives. They can take part in the campaign by donating bread, laban, fruit juices, bananas and apples, and participate as volunteers to serve the community workers.

Further, Emaar is distributing #BuildingCommunities boxes as part of the campaign to complement the ‘Year of Giving’ announced by UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan for supporting less privileged communities through charitable initiatives.

Each box has gift vouchers valued at AED 100, and instructions on the charitable deed to be done, which could be anything from buying a stranger a present using the voucher or gifting it to a person in need. The voucher can be used at The Dubai Mall, Address Hotels + Resorts, Reel Cinemas as well as all other Emaar businesses.

Several such kindness boxes have been placed in Emaar’s neighbourhoods, where residents can use the vouchers to bond with neighbours or touch a person’s life through random acts of kindness.

Emaar is also highlighting the stories of people who have made a positive change through their charity initiatives. Through inspiring videos of their work, Emaar aims to engage people to positively impact the community this Holy Month and beyond. The public can take part in this innovative social experiment by sharing their stories of kindness on Emaar’s social media channels under the #BuildingCommunities campaign. One winner will be chosen, and Emaar will donate a cash prize of AED 20,000 directly to the winner’s charity of choice.

Follow and participate in the campaign on Emaar’s social networks with the hashtag #BuildingCommunities

Rove Trade Centre is the fourth property to open under Rove Hotels, a contemporary lifestyle brandNext to the Dubai World Trade Centre, the Rove Hotels property is seated at the juncture of Dubai’s thriving business centres – both old and newWalking distance from Dubai Metro, Rove Trade Centre offers easy access to Downtown Dubai, DIFC, City Walk and the Satwa neighbourhoodWith its unique design, Rove Trade Centre has 270 rooms, 30% of them interconnecting
Rove Hotels, the contemporary lifestyle brand by Emaar Hospitality Group, has unveiled its fourth hotel, with a focus on the fast-growing meetings, incentives, conferences and exhibitions (MICE) tourism sector of Dubai.

The home-grown Dubai hotel brand continues to offer strong value for business and leisure travellers, as Rove Trade Centre joins the portfolio of three other operational properties under Rove Hotels – Rove Downtown, Rove City Centre and Rove Healthcare City – all enjoying strong occupancy levels.

Six more Rove Hotels are being developed, also in strategic locations across the city, each meeting the needs of visitors from across the world seeking value lifestyle experiences in Dubai. This will take the total number of rooms under Rove Hotels, developed as a joint venture between Emaar Properties and Meraas Holding, a Dubai-based holding company, to over 3,700 by 2020.

Rove Trade Centre, as the name underlines, is defined by its location next to the Dubai World Trade Centre, which has an impressive calendar of big events throughout the year. Moreover, the new hotel is only 10 minutes away from the Dubai International Airport, and near the Dubai International Financial Centre, Rove Trade Centre is situated at the intersection of the two commercial hubs of the city – the traditional hubs of Bur Dubai and the fast-emerging new central business district.

Offering a design-influenced lifestyle experience for value-conscious business travellers, Rove Trade Centre has 270 rooms and will also appeal to leisure travellers who can access Dubai’s leading tourism, retail, food and beverage, and leisure destinations such as Downtown Dubai, City Walk and the Satwa/Jafiliya and Karama neighbourhoods.

Olivier Harnisch, Chief Executive Officer of Emaar Hospitality Group, said: “Rove Hotels addresses a very clear industry requirement: the need to offer contemporary lifestyle hospitality experiences for value conscious business and leisure travelers visiting the city. We will continue to develop hotels in central locations, assure hyper-connectivity and mobility through Metro and public transport, and deliver lifestyle amenities that are relevant to our guests.”

He added: “Rove Trade Centre, like all other operating Rove Hotels, also brings a unique positioning to the market. Dubai’s MICE sector is reporting robust growth, and with the preparations of Expo 2020 gaining momentum, the city is welcoming business professionals who are discerning yet value conscious. Rove Trade Centre is uniquely positioned for welcoming MICE visitors as well as business guests and leisure travellers offering them the distinct Rove experience, complemented by its central location and tech-driven environment.”

As with all Rove Hotels, Rove Trade Centre also has its own unique design, and it employs art to tell stories that offer Instagrammable moments throughout the hotel. Of the 270 rooms, 30 percent are interconnected, adding the convenience of families. Every room has a 48-inch interactive TV screen with a smart media hub that serves as the perfect fit for the tech-savvy traveller. Free Wi-Fi access, comfortable mattresses, sofa beds for extra guests, mini-fridge, safety locker and a modern bathroom with power rain showers are standard.

With the needs of business guests in mind, Rove Trade Centre offers smart services for the modern traveller including the convenience of late check-out at 2pm. A 24-hour gym, a welcoming pool and sun deck cultivate a relaxing ambience. The hotel also has a 24-hour self-service Laundromat, boutique convenience store, luggage store rooms and safety deposit boxes, all adding to the independent lifestyle of its guests.

Rove Trade Centre also feature The Daily, the much-admired all-day neighbourhood hangout at Rove Hotels properties, with quality coffee and healthy globally inspired food served till late.

The hotel also offers flexible set-ups for meetings and events with well-connected meeting rooms. Guests can choose their space of choice for meetings and networking events which can be booked by the hour. A Pit Stop is also offered for more relaxed gatherings. The Daily is available for lunch during meetings. Coffee, tea and water are complimentary.

Rove Hotels are for the modern nomad who roams freely, and is interested in exploring the city’s identity, as well as for those who travel for business or leisure.

In another technology first, Emaar Hospitality Group, the hospitality and leisure business of Emaar Properties PJSC, has introduced panoramic, 360 virtual tours of its hotels in Dubai.

The 360 virtual tours, captured in high-definition photographs and videos, offer visitors the opportunity to experience the unique value propositions of each hotel, discover its myriad facets and make an informed decision – be it for booking hotel stays, restaurants or pampering oneself at spas.

The 360 virtual tours cover properties under the premium luxury hotel and serviced residences brand, Address Hotels + Resorts; the upscale lifestyle hotel and serviced residences brand, Vida Hotels and Resorts; and the new contemporary mid-scale hotel and serviced residences brand, Rove Hotels.

Olivier Harnisch, Chief Executive Officer of Emaar Hospitality Group, said: “Introducing innovative digital experiences is part of our strategy to further enhance the guest experience. The 360 virtual tours open doors to the delightful and exceptional lifestyle offerings at our hotels, enabling visitors anywhere in the world to make informed decisions and plan their stay in vivid detail. We will continue to explore newer opportunities to strengthen our online engagement with our guests, underlining our commitment to provide value-added customer-centric experiences.”

The 360 virtual tours take visitors through the spectacular architecture that define properties under Address Hotel + Resorts, including Address Boulevard, Address Dubai Marina, Address Dubai Mall, Address Montgomerie, and Palace Downtown. The 360 virtual tours also take visitors through the exceptional ambience offered by Vida Downtown and Manzil Downtown, as well as the three Rove Hotels that are currently operational in central locations across the city – Rove Downtown, Rove City Centre and Rove Healthcare City.

To view, simply click on the hotel websites, which can be navigated via www.addresshotels.com; www.vidahotels.com; and www.rovehotels.com. The master-brand pages will take you to inpidual hotel sites, where you can take the interactive tours.

Each virtual tour, assembled through panoramic photography and videography, will provide all the features of the hotel in vivid details. From the exteriors to the interior, whether it is the lobby, restaurants, lounges, spas, event spaces, or the intricate details of rooms and suites, you can experience it all online.

The launch of the 360 virtual tours of all hotels is part of the ambitious digital transformation that Emaar Hospitality Group is bringing through several innovative initiatives. The objective is to enable visitors to become familiar with the hotels and understand the real value that awaits them. They can then simply make their bookings via the website itself, adding to their convenience.

The virtual tours can also be experienced over smartphones through the new native Apps that Emaar Hospitality Group has launched. Setting an industry-first, these Apps powered by Go Find It Technologies SA, enhance the digital lifestyle experiences of guests at Address Hotels + Resorts, Palace Downtown, Vida Hotels and Resorts, Manzil Downtown and Rove Hotels. The Apps of Address Hotels + Resorts, Vida Hotels and Resorts, Palace Downtown and Manzil Downtown have gone live with the Rove Hotels App to go live shortly.

Significant value creation for Emaar shareholdersOne of the largest IPOs since the listing of Emaar MallsEmaar has recorded real estate sales of AED 9.7 billion (US$ 2.64 billion) in the UAE until 31 May 2017; an increase of 24% from 2016UAE projects backlog amounts to AED 40 billion (US$ 10.9 billion)
Dubai, UAE; June 7, 2017: Emaar Properties PJSC, the global real estate company, has announced plans to list its UAE Real Estate development business in order to create significant value for its shareholders. The IPO will be the largest since the Emaar Malls IPO in 2014.

Subject to market conditions, Emaar will offer up to 30 per cent of Emaar’s UAE Real Estate Development business through a share offering on the Dubai Financial Market (DFM). The funds raised through the sale of equity will be primarily distributed as dividends to Emaar’s shareholders.

The decision to list Emaar’s UAE Real Estate Development business was a result of an internal review of Emaar’s asset values. This indicated the importance of highlighting the value of this business as a major contributor to the overall profitability of Emaar through an independent listing. Investors who value the proven development track record of Emaar can invest directly in this business and benefit from the strong growth profile of the company’s UAE development business. In turn, this will enhance Emaar’s overall valuation as the value of this important business is properly recognised in the market.

Emaar’s real estate development in UAE has recorded significant growth over last five years. Real estate sales increased from AED 4.2 billion (US$ 1.14 billion) in 2012 to AED 14.4 billion (US$ 3.92 billion) in 2016. Until end of May 2017, the business recorded sales of AED 9.7 billion (US$ 2.64 billion), 24 per cent above the same period in 2016. Total backlog as at the end of May 2017 is AED 40 billion (US$ 10.9 billion). This backlog represents the value of properties sold but where related revenues have not been recognised.

Mohamed Alabbar, Chairman of Emaar Properties, said: “We are thankful to His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President & Prime Minister and Ruler of Dubai, for his guidance and inspiration that has been the driving force of Emaar’s success. The proposed listing and the additional dividend to our shareholders including Government of Dubai underlines our commitment to provide superior value to all our shareholders for their unwavering support to the company since its inception in 1997.

“Over the years, we have generated significant returns from our UAE real estate development business and it continues to be a strong driver of growth for the group. As Emaar’s other businesses have grown and expanded, we wanted to ensure that investors who value the UAE Real Estate Development business the most, the foundation of Emaar’s success, can do so directly. This will ensure that the value of this business is properly recognised, thereby enhancing value for all Emaar shareholders.”

Mr. Alabbar added: “We are drawing on our success to create a new Emaar defined by an expanded development pipeline in Dubai anchored by iconic structures such as The Tower at Dubai Creek Harbour. Emaar’s value proposition is an unwavering commitment to provide the best-in-class service to our customers, which will be the main pillar for the UAE Real Estate Development business to achieve significant successes. We have high-calibre professionals who lead our various businesses and we are also investing in young talent.”

Emaar has handed over around 34,000 units in Dubai since 2001 and currently has a significant land bank of 24 million sq. m in the UAE. The total development area on these lands is approximately 30 million sq. m.

Focused on its strategy of shaping the future today, Emaar has several mega-developments ongoing in Dubai including the 11 million sq m Dubai Hills Estate, a ‘green city within the city,’ developed as a joint venture with Meraas Holding, which will feature a world-class retail hub and an 18-hole championship golf course.

Having delivered the iconic Burj Khalifa, Emaar is now developing The Tower in Dubai Creek Harbour, billed to be one of the fascinating attractions in the world. It is set in the heart of a 6 sq. km mega-development, developed as a joint venture with Dubai Holding and will feature a dedicated retail district for high-end brands.

Another smart development for the future, set near the venue of Expo 2020 Dubai, is Emaar South, a next-generation lifestyle destination in the new aviation and logistics hub of the city, Dubai South.

Emaar Properties is marking the Holy Month of Ramadan with #BuildingCommunities, a campaign that celebrates the happiness of giving and seeks to inspire positive change by touching the lives of others with acts of kindness.

#BuildingCommunities complements the ‘Year of Giving’ announced by UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan, with a focus on supporting less privileged communities through charitable initiatives.

It further reflects the spirit of giving that marks the Holy Month of Ramadan, encouraging people to undertake random acts of kindness and to make a positive difference in someone’s life.

As part of the campaign, Emaar will place over 1,000 #BuildingCommunities boxes across its assets, each with gift vouchers valued at AED 100. The boxes will have instructions on the charitable deed to be done, which could be anything from buying a stranger a present using the voucher or gifting it to a person in need. The voucher can be used at The Dubai Mall, Address Hotels and restaurants, Reel Cinemas as well as all other Emaar businesses.

Ahmad Al Matrooshi, Managing Director of Emaar Properties, said that “#BuildingCommunities reflects the spirit of giving that marks the Holy Month of Ramadan, and promotes camaraderie and togetherness among people. It encourages them to do a random act of kindness, which brings cheer to others and makes a positive difference to their lives.

To further foster community spirit, #BuildingCommunities kindness boxes will also be placed in Emaar’s neighbourhoods, where residents can use the vouchers to bond with neighbours or touch a person’s life through random acts of kindness.

Emaar will also highlight the stories of people who have made a positive change through their charity initiatives. Through inspiring videos of their work, Emaar aims to engage people to positively impact the community this Holy Month and beyond. To be featured is the work of Ahmed Haweel, Ifraz Ahsan and Anushree Unakal, three students who decided to ‘give’ their time by visiting patients at Mediclinic Dubai Mall, to spread positivity and make the patients as happy as possible.

Dr. Shambavi Rajagopal, founder of Save Scrap N’ Sew, is also honoured through Emaar’s video. The non-profit organisation takes scraps of unused materials from tailors and stitches them into useful items that are given away. It builds on her passion to lend a personal touch to a charitable deed.

Additional social influencers will be chosen to promote #BuildingCommunities through their social networks. They will provide live updates of what they decide to place in the box and where they are placing it, urging people to find them and participate in the charity campaign.

As part of this innovative social experiment, people are urged to share their stories of kindness which could range from leaving a friendly note at someone’s desk to donating time to a local charity or even helping a stranger in need. These stories will be shared on Emaar’s social media channels under the #BuildingCommunities campaign and Emaar will donate a cash prize of AED 20,000 directly to the winner’s charity of choice.

Follow and participate in the campaign on Emaar’s social networks with the hashtag #BuildingCommunities