Emaar Properties records first half 2008 net profit

With domestic property sales as the prime driver, Emaar Properties PJSC recorded first-half 2008 net profits of AED 3.315 billion (US$ 0.902 billion), a marginal growth over half-year 2007 net profits of AED 3.279 billion (US$ 0.893 billion). Read more

Emaar looks beyond luxury projects with affordable housing plans

Emaar Properties plans to launch a low cost housing unit to extend its reach into affordable housing for region’s poor.

Mohammad Al Abbar, Emaar’s chairman, said the Dubai-based developer planned to acquire a company specializing in social housing that might launch projects in Morocco, India, Pakistan, Egypt and the Palestinian territories.

The move is a shift in strategy for Emaar, which has so far concentrated on luxury projects and has $100 billion (Dh 367 billion) of projects under development. As its home market matures, the company has sought market in the Middle East, North Africa and Asia to find fresh sources of revenue.

“We have been blessed but you have to do more. We might only get a three per cent margin but if we are good citizens we can’t just take profit, we have to be able to stand tall in front of our children,” said Al Abbar. Read more

Dubai Metro in a stage of globalisation

Yesterday Emmar announced a naming on-line competition for the magnificent fountain of the Burj Dubai lake.
But today the Gulf News topped the news by reporting that a debate is raging on the impact of leasing naming rights of Metro stations to companies on the identity of our fast-developing emirate.

It seem the Roads and Transport Authority (RTA) has placed full page advertisements in a number of prominent American and European magazines to invite bidders. Read more

Online competition for naming the Burj Dubai Lake Fountain

Emaar organises an on-line competition for naming the spectacular fountain being developed in the Burj Dubai Lake in Downtown Burj Dubai.

This competition has been specifically planned as a participatory event for the public.

Emaar invites all citizens and residents of UAE to be part of one of modern Dubai’s proud contribution to the world’s finest aesthetic projects, one that is set to be a global talking point, one that appeals to tourists from far and wide.

The fountain in Burj Dubai Lake is envisaged as a water, light and music spectacle – truly, one of the world’s finest water features. Read more

Indiascapes in Dubai

Emaar MGF Land Ltd., a joint venture between Emaar Properties PJSC and MGF Developments, begins a three-day showcase in Dubai from June 30 to display lifestyle residences across its integrated master-planned communities in India. Formed in 2005, this partnership brought about unprecedented transformation to the realty sector emanating from the strong synergies of two robust players to bring in technological know-how, international design, project management and construction expertise.

The showcase in Dubai gives the growing number of Indian expatriates in the United Arab Emirates an opportunity to buy best in class residential developments back home where EmaarMGF is redefining contemporary living. Read more

Emaar Bawadi launches Maysan Towers in Asmaran

Emaar Bawadi, the joint venture between Emaar Properties PJSC and Bawadi, a member of Tatweer, has unveiled the Maysan Towers, the first residential tower complex comprising three high-rise apartment towers within the 70 million sq ft Asmaran master-planned community in Bawadi.

Potential customers must register interest online at www.emaar.com on June 29, 2008 from 6am to 6 pm only. Registered customers can purchase homes on a ‘first registered, first served’ basis on June 30 at a sales event to be held at the newly opened Asmaran Sales Centre located on Al Qudra Road. This will be the first launch to be held at the Asmaran sales centre, which showcases a model two-bedroom apartment thus offering home-owners a true representation of the Maysan residential apartment experience. Several financial institutions will offer easy home finance options. Read more