Changed market situations also bring opportunities
Burj Dubai opening will be a significant milestone in 2009
Emaar Properties PJSC will start a new chapter in its growth story in 2009 by evolving strategies to face the challenges posed by the global financial crisis and exploring new opportunities, said the company chairman Mr Mohamed Alabbar.
Mr Alabbar said that while several challenges await the property sector in 2009, there are also an equal if not greater range of opportunities. â€œEmaar will face these challenges with confidence and we will focus our energies to adapt to the changing circumstances. Our strategy of business segmentation and geographic expansion has proven its effectiveness, and we will continue along this path.â€
In 2009, Emaar will mark a significant milestone with the opening of Burj Dubai, the worldâ€™s tallest building. The company will also add two more properties to its Emaar Hospitality Group portfolio â€“ The Address, Dubai Marina and The Address, Dubai Mall.
Year 2008 was marked by two landmark achievements for Emaar Properties â€“ the opening of The Dubai Mall, one of the worldâ€™s largest shopping and entertainment destinations; and The Address, Downtown Burj Dubai, the first hotel under Emaarâ€™s own hotel brand, The Address Hotels + Resorts.
Emaar also strengthened its hospitality & leisure roster with the opening of the Dubai Marina Yacht Club, and its shopping mall business with the Dubai Marina Mall. The company further consolidated its geographic expansion, with new projects unveiled in Egypt, Morocco, Saudi Arabia, India and Indonesia.
The Dubai Mall, which opened in November, is one of the significant achievements of Emaar Properties in 2008.