Emaar Properties

The UAE-based Emaar Properties is a multi-line conglomerate operating in 15 countries, directly and through subsidiaries, and in the following sectors: real estate property investment, development, management and brokerage; it also owns, operates and manages hotels, resorts, residential compounds, shopping malls, free trade zones, movie theaters, hospitals, clinics, medical centers, and schools. Emaar provides conventional and Islamic direct and private equity investments in multiple sectors along with brokerage services, investment research and analysis; its commercial banking services include deposits, loans and credit cards; its investment banking services include corporate finance and investment advisory on mergers and acquisitions, IPOs and underwriting; asset management services include wealth management; it also provides consumer, commercial and corporate credit and finance services as well as engineering consulting and district cooling services.

Emaar completed Burj KhalifaBurj Khalifa in January 2010, the world's tallest building, measuring 828 m (2,716.5 ft.) with 162 floors. Other landmark projects include the Dubai MallDubai Mall, the world's largest shopping and entertainment center, with a total area of 1.1 million sq. m (12.1 million sq. ft.). By the close of 2010, the company had sold 770 units of the Burj.

The company began a partnership with Giorgio Armani SPA, in 2004, to develop a worldwide group of luxury hotels and vacation resorts in Dubai, London, Milan, New York, Paris, Shanghai and Tokyo. The first achievement of the partnership came with the launch of the Armani Hotel, which opened in April 2010 in the Burj DubaiBurj Dubai tower, with 160 rooms and suites.

Emaar’s projects, as of August 2011 include Umm Al Quwain Marina an estimated AED12.119 billion (USD3.3 billion) project consisting of a residential and commercial community waterfront development in northern Emirates it will include 1,200 resort and hotel rooms, parks, retail facilities, schools, a yacht club and community centers and expected to be completed in Q4 2012.

The publicly listed company grew its total revenues by 44% to AED12.15 billion (USD3.3 billion) and its net operating profits by 31 % to AED3 billion (USD826 million), in 2010. Its hospitality business contributed AED1 billion (USD272 million) and the retail business earned the company AED1.9 billion (USD517 million) in revenues, together the two segments accounted for 24% of Emaar Properties’ total 2010 revenues.