Emaar highlights expansion plans at Dubai Property Group meet

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Mr. Arif Amiri, Senior Director - Investor Relations and Corporate Governance, Emaar Properties, highlighted the compnay's contribution to Dubai's realty sector and its expansion plans - internaltionally and into new businesses.

Speaking to over 270 DPG members and other high-ranking real estate professionals, Amiri said that Emaar has played an instrumental role in shaping the current property dynamic of the Emirate in line with the growth strategies of the Dubai government. Moving forward, Emaar is taking the Dubai development model internationally. In this growth strategy, building strong financial fundamentals and continued strategic expansions are crucial for property developers to evolve as powerful global brands, he said.

Mr. Amiri added: 'With an active presence in 36 markets and six diversified business segments, Emaar is today a truly global company. Our focus in the Middle East in recent years has been in establishing regional partnerships to share competencies and best practices, exemplary of which, is our recent joint venture project with Bawadi.'

'Master developers have a key role to play in supporting economic diversification. Not only does it complement the developer's vision of providing integrated lifestyle communities, it also adds to new revenue sources while building strong economic platforms that benefit the entire economy. Emaar's expansion to education, healthcare, shopping malls, financial services and hospitality & leisure reflect this growth philosophy,'

said Mr. Amiri.

'Emaar's international growth is endorsed by the growing confidence in our projects by international investors. With a pipeline of projects valued at over $100bn, we forecast international operations to contribute 60-70% of our total revenues by 2010.'

Amiri presented an overview of Emaar's projects in the UAE that includes a diversified roster of trend-setting projects such as the Downtown Burj Dubai, which encompasses Burj Dubai - the world's tallest building; and The Dubai Mall, one of the world's largest shopping and entertainment destinations. Emaar's project roster also includes Dubai Marina, one of the first and largest of its kind waterfront projects in the region; Arabian Ranches, a premium master-planned community; and Emirates Living, a cluster of villas and apartments that ushered in the concept of integrated neighbourhoods to Dubai. Emaar is also developing Umm Al Quwain Marina, a mixed-use project in Umm Al Quwain. Emaar Bawadi, a joint venture of Emaar and Bawadi, a member of Tatweer Group, is developing the 70 million sq ft Asmaran in Bawadi, located within Dubailand.

'It's our pleasure to have a senior representative of Emaar speaking at our monthly event,' said Adel Lootah, the executive director of DPG. 'He gave us a full update of their achievements and projects, and they shared with our members Emaar's experiences and thoughts. We must stress that Emaar's unique projects developments and, in particular, Burj Dubai is creating a point of differentiation amongst all the other real estate developments not only in the region but in the world.'

During the event, DPG announced that it has changed its name to Dubai Property Society (DPS). 'The new name better reflects the dynamic, responsive relationship with Dubai's real estate community. We aim to facilitate the development of the real estate industry by acting as a communication vehicle between our members and the Government of Dubai,' commented Adel. 'We will always remain an open association, independent society extending equal opportunities to entities and individuals involved in the sector.'

Dubai Property Society is an association of professionals involved in the fast-growing real estate market in Dubai. The Group is made up of more than 290 prestigious members involved in property development and management as well as real estate agents, brokers, financial institutions, media organizations and landowners.