In this blog post, we’re going to take a deep dive into Emaar Properties, which is one of the world’s largest real estate developers. We’ll go over Emaar’s background and history, give a glimpse of its financials, discuss current and upcoming projects as well as share some lesser-known facts that we think might interest you. Whether you’re looking at investing or just want to know more about this company — this article should cover everything! As usual if there are any queries then don’t hesitate in getting in touch with us!
Table of Contents
Founded in 1997, Emaar Properties build some of the tallest buildings like Burj Khalifa in Dubai. This developer has not only defined Dubai’s skyline but also is known for luxury and innovation in property development, creating communities that combine modern living with aspirational lifestyles.
Emaar’s Iconic Projects: Burj Khalifa and Beyond
Emaar Properties has laced Dubai’s skyline with architectural wonders… The crown jewel is without doubt the Burj Khalifa, which stands majestically at a mind-numbing height of 828 meters (2,716.5 feet), making it the world’s largest skyscraper.[1]
Nevertheless, Emaar’s recipe for prosperity does not end there. The company has a portfolio full of significant developments such as the vast Dubai Mall; a 200-football field big retailer paradise [2] and don’t forget the glittering waterfront community Dubai Marina: it is like Venice on steroids. These aren’t just structures; they are resort-like destinations for exclusive living that offer an experience of high-life through world class comforts, stunning scenery and a touch of opulence that is characteristic of all things Dubai.
Emaar’s Greatest Developments
In Dubai, Emaar Properties has created numerous masterpieces. The Burj Khalifa is the most famous one among them which stands tall like a modern-day Eiffel Tower, piercing the clouds at a jaw-dropping 828 meters.. However, Emaar’s projects don’t cease there. The Dubai Mall is like a city within a town which is as big as fifty soccer fields put together. When you see it from a distance the Dubai Marina will remind you of some part of France with its yachts glistening under the sun on the waterline which appears like the French Riviera transported to the desert. Downtown Dubai, where the Dubai Fountain enchants visitors with its beautiful dancing movements, is like a big stage on which all activities take place so that everyone can enjoy life to the fullest.
These are not merely communities, houses or structures; they are luxury living environments made to offer world class facilities and breathtaking views for residents and tourists who want to experience the best things in life accompanied by Dubai-like grandeur.
Sustainable Development Initiatives by Emaar
Emaar properties is not just a home builder, but like a gardener that nurtures sustainable ecosystems. The company has adopted eco-friendly building practices, making sustainability part of their projects’ DNA. One good example is how they handle power consumption. Emaar could be likened to an astute householder who replaces all light bulbs with LEDs; only this time around it’s at a large scale. They have employed energy-saving techniques across their estates which have saved 55% of the total energy used in lighting through replacement with LED lights. [3]
But the green initiatives do not stop there; water conservation is another area Emaar has prioritized given Dubai’s desert climate where every drop counts as if it were an oasis in high technology. To achieve this, they introduced new ways such as using low flow aerators and dual flush toilet tanks for water saving among others together with greywater recycling systems which are more efficient than before. In fact about 15% of daily irrigation needs are met by reclaimed condensate from air conditioning units through condensate recovery systems alone because its reuse programs have worked effectively. [4]
Also when talking about sustainable communities Emaar thinks big – not just constructing green buildings but whole eco friendly neighborhoods; think SimCity but real life edition! Their designs include parks or other public spaces close to residential areas filled with trees and bushes native to these regions thereby attracting birds and other small animals thus making cities havens for local flora and fauna too! Luxury living does not contradict environmental protectionism according to them since it serves as an avenue towards achieving both hence setting standards for future developers in terms of ecological consciousness while providing comfortability during staycations or holidays.
Emaar’s Founder and CEO
If Steve Jobs symbolizes Apple Inc then without doubt Mohamed Alabbar can equally represent Emaar Properties considering his role as founder and CEO since establishment back in 1997 so much so that he may be termed Dubai’s chief builder instead of just being an architect who designs buildings. He has however been involved in more than one venture within real estate development; take for instance Noon.com which is an online retail platform like what Amazon does globally but locally situated across Middle East countries or Americana Group where fast food chains like McDonalds can be found all over Arabia. [5]
With degrees in finance and business administration, Alabbar has built an empire that stretches across real estate, retail, hospitality, and technology. His vision has quite literally shaped Dubai’s skyline, with iconic projects like the Burj Khalifa and Dubai Mall standing as towering testaments to his ambitions. [6]
Emaar’s Financial Snapshot 2023
In 2023, Emaar Properties PJSC showed high financial growth with a net profit of AED 11.6 billion (US$ 3.2 billion), marking a 70% increase from the previous year. The company’s revenues also increased by 7% to AED 26.7 billion (US$ 7.3 billion). This was driven by strong performance in property sales, retail and tourism sectors[7].
Here are the key points from Emaar’s financial results for the year ended December 31st, 2023:
- Property Sales: Property sales achieved by Emaar were AED 40.3 billion (US$ 11 billion), which is up by 15% YoY. Property sales backlog of the company was at AED 71.8 billion (US$19.5 billion) signifying strong future revenue potential[7].
- EBITDA: EBITDA recorded an increase of 63% to reach AED 16 billion (US$4.4billion) reflecting better operational efficiency and profitability[7].
- Recurring Revenues: Recurring revenues of Emaar including malls, hospitality, leisure and commercial leasing grew by 26% amounting to AED 9.2 billion (US$2.5bn) which accounted for over than one third (34%) of total revenue supported mainly by higher tenant sales and recovery in tourism[7].
- Shopping Malls & Retail: Revenue generated through shopping malls & retail operations reached AED5.8 billion (US$1.6bn) with an EBITDA of AED 5 million (US$1.4bn). Mall assets had an average occupancy rate of about97%[7].
- International Operations: Property sales recorded from international real estate operations were around AED2.9 billion (US$0.8bn) while revenue stood at AED3.1 billion (US$0.9bn), mainly driven by Egypt and India markets[7].
- Hospitality, Leisure & Entertainment: Revenue of this segment went up by 20% to record AED3.4 billion (US$0.9bn) supported by recovery in tourism and strong domestic spending. Approximately 1600 new hotel keys were added to Emaar’s hotel portfolio[7].
Overall, during 2023 Emaar had strong financial performance due to strategic initiatives and improved consumer confidence in real estate and retail sectors; therefore, the company will continue launching innovative projects and offerings across its business divisions.
All these numbers clearly reflect not only an active property developer but also somebody who is assembling very strong blocks for their future success in terms of finances.
Emaar’s Diverse Property Portfolio
Although Emaar Properties is famous for its luxurious developments in the best locations, the company actually has a very mixed portfolio that serves different market segments and areas.
Certainly, Emaar’s luxury projects in prime locations are among its most well-known undertakings. These are the gems of their portfolio – impressive, high-profile and eye-catching. Examples of such schemes include Burj Khalifa, Dubai Marina, Creek Harbour and Downtown Dubai with their world-class amenities and top locations.
But Emaar also builds affordable housing and mid-range properties. These are the affordable family homes – less flashy but still good quality and addressing key market needs. Some Communities are:
The Valley: A new development by Emaar which aims to offer more affordable homes. Situated along Dubai-Al Ain Road, it consists mainly of townhouses and villas priced for first-time buyers or young families.
Emaar South: Located near Expo 2020 site and Al Maktoum International Airport, this project features tiered townhouses, standalone villas as well as apartments. Although still designed to high standards, these units generally cost less than equivalent ones elsewhere in central Dubai where everything built by Emaar is considered premium.
Dubai Hills Estate: While parts of this development are indeed luxury-focused there are also moderately priced townhouses and apartments available within its boundaries thus providing choice for a wider range of buyers. One of the latest projects in Dubai Hills is Parkland, which matches the demand of mid ranges priced properties.
Emaar Beachfront: A 10 million square feet prestigious island community located in Dubai Harbour, offering 10,000 luxurious units across 27 towers. Residence can enjoy a 1.5 km private beach, a 13,000 sqm retail mall, and breathtaking views of the Arabian Gulf and Dubai Marina skyline, making it a prime destination for upscale living.
Diversifying across different price ranges & locations is like an investor spreading their bets, so does Emaar’s strategy which enables them to do the following:
- Serve broader markets, from rich people looking for expensive properties to middle class income groups.
- Take advantage while investing into upcoming sectors of Dubai which may not be categorized as prime location yet, but might be in the future
- Comply with the government drive towards more affordable houses.
What’s interesting with these more affordable projects by Emaar is that they still have a certain level of quality and facilities. It’s like flying economy on an excellent airline – you get good service but not all bells and whistles offered in first class cabins.
While luxury developments in prime areas are undoubtedly a big part of what Emaar does best, the company has also strategically moved into different market segments and locations. This diversification allows Emaar to cater for a wider range of homebuyers & investors thereby cementing it as one among leading developers in Dubai’s vibrant real estate sector.
Emaar’s Sports Communities
Emaar Properties has entered the world of sports communities and recreational facilities, combining residential living with an active healthy lifestyle. One of their most famous sports residential projects is the Dubai Hills Estate which boasts a championship golf course as its centerpiece. This area can best be described as a sports enthusiast’s paradise where they can not only indulge in their love for golf but also enjoy various other outdoor activities within family-friendly spaces.
The Dubai Sports City is another great example among Emaar communities that focus on providing everything any sport lover could ever dream about. With multiple academies and stadiums around the neighborhood, this place creates an atmosphere of continuous motion typical for multifunctional areas.
Emaar does not limit itself only to building residential units dedicated to sports; they also construct excellent world-class sporting venues too. The Arabian Ranches Golf Club established in 2004 stands out as one such facility situated within the highly sought-after Arabian Ranches community. Imagine having a professional golf course in your backyard!
These developments are part and parcel with wider efforts across Dubai aimed at encouraging community sports participation and healthy lifestyles. For example the Emirates Community Sports Forum seeks to drive up local involvement in sports while fostering creativity through health consciousness among young people. Although unrelated directly towards Emaar or any other organization undertaking in these plans it demonstrates how much importance authorities attach to fitness facilities during city planning processes as well indicating what direction developers should take when designing their housing projects
Emaar’s Area and Community-Building Projects
Emaar Properties is not just building homes or towers; they are creating whole neighborhoods and communities from scratch. Being a master developer, Emaar designs and builds complete communities, each having its unique flavor and features.
Emaar as a master developer in Dubai is creating an entire buffet worth of living experiences for residents, tourists and visitors. Here are some of their most famous developments and communities:
- Downtown Dubai: This is the heart of the bustling City of Dubai with Burj Khalifa as its towering centerpiece. Homes, offices, hotels, and entertainment blend into one exciting urban experience here.
- Dubai Marina: Imagine Mediterranean coastal living transplanted into the desert – that’s what this waterfront community is like. It can be described as a mini-Venice where luxury apartments overlook yachts bobbing in the marina.
- Arabian Ranches: Peaceful suburban living away from city hustle – that’s what this community feels like. It consists of villas and townhouses with golf courses and equestrian centers for those who fancy some countryside charm.
- Dubai Hills Estate: Imagine a green haven in the city! Centered around an 18-hole championship golf course, it’s basically a giant park with scattered homes all over.
- Dubai Creek Harbour: This forward-thinking development by Emaar aims to become new city center; think Dubai 2.0 with plans for the world’s new tallest tower among other things.
In each community above (and every other), Emaar does not only build houses – it creates complete ecosystems including schools, hospitals, shopping centers as well as recreational facilities within walking distance from residents’ doorsteps if possible . It’s like they’re building self-contained mini cities within Dubai itself!
What sets apart Emaar as one among many master developers out there is their attention to detail coupled with strong commitment towards creating connected communities. It’s not just about putting up buildings; rather, it entails careful consideration of how people will work, live and play within these spaces. They are like authors who write books where each chapter represents a building or facility while the whole story revolves around the community.
Since 2002 alone, more than 102.000 residential units have been delivered by Emaar in Dubai & other markets. That’s enough to house the entire population of a small city! [8]
Emaar’s Global Names
Emaar Properties is known by several names and spellings across different languages, reflecting its global presence and diverse customer base. In Arabic, the company’s name is written as إعمار العقارية (I’mar al-Aqariya), which translates to “Emaar Real Estate”. In English-speaking countries, it’s simply known as Emaar Properties or Emaar.
In other languages, the company’s name may be transliterated or adapted to fit local pronunciation. For instance, in Hindi, it might be written as एमार प्रॉपर्टीज (Emaar Propertiz), while in Chinese, it could be rendered as 伊玛尔地产 (Yīmǎ’ěr Dìchǎn) . However, in most international contexts, Emaar tends to use its English name to maintain brand consistency across its global operations.
Regardless of the language, Emaar has become synonymous with luxury real estate development. The company’s iconic projects, such as the Burj Khalifa and Dubai Mall, have made the Emaar name recognizable worldwide, transcending language barriers .
What does the name Emaar mean?
The name Emaar is derived from the Arabic word ‘إعمار’ (I’mar), which is translated into English as ‘building’ or ‘construction’. It also has the meaning of ‘development’, ‘prosperity’ and ‘to make something flourish’. This reflects the company’s vision and mission, as Emaar Properties is dedicated to creating modern, world-class property projects that contribute to the development and growth of the communities in which they operate.
By choosing a name that stands for ‘building’ and ‘development’, Emaar sums up the essence of its contribution to the local and global property landscape.
Facts you might not have heard about Emaar
Even though its iconic developments have made it famous, Emaar Properties has less well-known facts that reveal a more vibrant side of this property giant.
Entertainment Powerhouse: Over the past few years, the company’s entertainment sector has grown immensely. Revenue from this division alone reached approximately AED1.78 billion. For example, The Dubai Mall— one among Emaar’s properties– attracts more than 80 million visitors annually, quickly recovering back into pre-pandemic numbers [10].
Historical Significance: Hyderabad, India was not only Dubai based Emaar’s onf the the first big project but also their very first venture outside of Dubai itself where they had won rights for building Hyderabad International Convention Centre at Madhapur area during early 2000s marking entry into Indian market.
Future Plans: An even bigger retail centre than the world famous “Dubai mall” is in Emaar’s pipeline. This mammoth shopping complex will be located at Dubai Creek Harbour and although it is still being designed on paper only; some insiders claim that when completed might be twice as large as the Dubai Mall.
Revolutionary Retail Concepts: In their new mall project in Dubai Creek Harbour, Electric cars could be allowed to access inside the mall thereby giving shoppers unusual futuristic experience while doing their shopping
Land for Stock Deal: In an unprecedented move back in 2007, Emaar and Dubai Holdings planned a deal to swap land for shares.[9]The land-for-stock exchange deal between Emaar Properties and Dubai Holding was not completed. Emaar Properties decided to cancel the proposed land-for-share swap agreement. The cancellation was announced on August 25, 2007.[10]
These unknown details illustrate many sides to Emaar including its being a worldwide corporation involved not just in real estate developing but also influencing lifestyles everywhere while promoting sustainable living through different sectors like energy efficiency etcetera.
[1] https://en.wikipedia.org/wiki/Burj_Khalifa#:~:text=The%20Burj%20Khalifa%20set%20several,646.38%20m%20or%202%2C121%20ft)
[2] https://www.visitdubai.com/en/places-to-visit/dubai-mall#:~:text=Featuring%20over%201%2C200%20retail%20stores,equivalent%20to%20200%20football%20pitches
[3] https://www.forbesmiddleeast.com/lists/the-middle-easts-sustainable-100/emaar-properties/
[4] https://properties.emaar.com/en/emaar-sustainability/our-stories/
[5] https://www.mohamedalabbar.com/
[6] https://www.harpersbazaararabia.com/culture/people/who-is-mohamed-alabbar
[7] https://properties.Emaar.com/en/press-release-listing/Emaars-profit-increased-by-70-and-property-sales-increased-by-15-reaching-aed-40-3-billion-us-11-billion/
[8] https://properties.emaar.com/en/press-release-listing/emaar-records-42-growth-in-net-profit-and-group-property-sales-of-aed-31-1-billion-us-8-5-billion-in-the-first-9-months-of-2023/
[10] https://www.afr.com/property/arab-developer-scuppers-land-deal-20070827-jdidy
