This was stated by Mohamed Ali Alabbar in the Emaar 2004 yearbook which was released today.
In an interview featured in the Emaar yearbook, Alabbar said: "Emaar will be spreading its wings to find the space to grow. We already have projects underway in India, are looking at GCC countries including Saudi Arabia and Qatar, have plans for Pakistan and Malaysia, and will be entering select upscale markets in Europe and North America."
"Emaar has cemented its reputation for innovation by taking an idea from the drawing board and turning into world-class, master planned communities. In 1999, we were selling homes in bundles of tens. Two years ago, we were selling them in the hundreds. Now we are selling them by the thousands."
The Emaar 2004 yearbook profiles key activities and achievements of the property major during 2003 and follows close on the heels of the company's Q1 results, which marked an impressive 22 per cent growth in Emaar's profits to AED 208 million. The Emaar yearbook will be distributed to key investor groups and high net worth individuals in the UAE and overseas.
"2003 was year of remarkable growth for Emaar, a challenge that we have risen to, and that our financials clearly reflect. As we continue on our mission 'Shaping the Future. Today', we expect to maintain and enhance not only the quality of our service offerings but also the financial strength of our company, " continued Alabbar.
Emaar launch high profile projects in 2003 including Burj Dubai, The Dubai Mall, Emaar Towers, Gazelle at Arabian Ranches and Hattan Homes. Each development has met with an overwhelming response from UAE national and expatriate investors.
Meanwhile, Emaar subsidiaries mirrored the company's success with Dubai Bank, Emrill, Sahm Technologies and AMLAK Finance recording impressive growth during the period.
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Emaar Properties to make presence felt in Europe and North America
- United Arab Emirates: Monday, April 26 - 2004 at 11:48
- PRESS RELEASE
Emaar will spread its wings overseas by entering upscale markets in Europe and North America.
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About Emaar Properties PJSCEmaar Properties is a Public Joint Stock Company listed on the Dubai Financial Market. With an asset base of US$7.7 billion including the land bank, the Company's vision is 'Shaping the Future. Today' by focusing on innovation, meticulous planning and the continuous pursuit of excellence. The Company has witnessed tremendous growth since its inception in 1997 and boasts a rapidly growing tenant base.
Currently, it has several major real estate projects under various stages of development. These developments include Dubai Marina, Arabian Ranches, Gazelle, Emirates Hills, The Views, The Meadows, The Springs, The Lakes, Hattan Homes, The Greens, EMAAR Towers and Burj Dubai Residences. The company also owns and manages the Gold and Diamond Park and has started construction on its most ambitious project to date, the Burj Dubai - the tallest skyscraper in the world.
The company recently signed a letter of intent with Giorgio Armani for the establishment of an innovative collection of Armani luxury hotels and resorts in Dubai, Milan and other major global cities. The Dubai 'Armani Hotel' will be located in the Burj Dubai tower.
While Emaar continues to actively pursue expansion in its core business of innovative, high quality real estate development, it has diversified into related business lines to further build value for its 41,000 shareholders. In line with this corporate belief, Emaar also owns and manages four subsidiaries - Dubai Bank, focused on retail and commercial banking, Amlak Finance, the UAE's first mortgage finance company, EMRILL, a joint venture with the UK-based Carillion plc which provides innovative property and facilities management services, and its technology and communications company, Sahm Technologies
For further information, please contact:
Iram Zaidi/Lina Anani
ASDA'A Public Relations
Exclusive Affiliate of Edelman PR Worldwide
in Middle East and North Africa
Tel: +971-4-3355969,
Fax: +971-4-3356080
Malika Bseiso
Emaar Properties
Tel: +971-4-367-4566
Fax: +971-4-367-3705
Dubai, UAE
Posted by Anne-Birte Stensgaard, Senior News EditorMonday, April 26 - 2004 at 11:48 UAE local time (GMT+4)
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