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Emaar appoints Issam Galadari as head of Saudi operations

  • Saudi Arabia: Thursday, December 15 - 2005 at 14:20
  • PRESS RELEASE

Emaar Properties, the world's largest property development company by market capitalization, has appointed Issam Galadari to head its operations in Saudi Arabia.

"Emaar is determined to sustain its position as the world's No. 1 real estate developer. With Issam Galadari's two decades of extensive experience and wealth of knowledge both at Emaar Dubai and Dubai Municipality, we have gained a country head who will recognise potential business opportunities and steer our expansion programme in Saudi Arabia which is considered a key market for Emaar," said Mohamed Ali Alabbar, Chairman, Emaar Properties.

Galadari is ideally placed to drive Emaar's international growth in Saudi Arabia, which is currently experiencing an economic boom with record oil revenue, boosting demand for housing and other facilities.

Prior to Galadari's appointment as Managing Director in Saudi Arabia, he was Executive Director of Projects at Emaar Dubai, where he managed the entire spectrum of projects for the company throughout the United Arab Emirates as well as its international operations.

"Saudi Arabia's economy is the largest in the Middle East and has great potential in terms of housing, commercial and retail expansion. My appointment as head of Emaar's operations in the Kingdom is recognition of Saudi Arabia's importance in the region and of Emaar's determination to be involved in the Kingdom's promising future,"


said Issam Galadari.

Galadari, who was educated in the UK with a BSc in Civil Engineering and a postgraduate diploma in Structural Engineering from the University of Southampton, is part of a growing number of highly qualified and experienced UAE nationals within Emaar in senior positions.

Dubai-based Emaar, which was established in 1997, is expanding outside the United Arab Emirates into markets such as Egypt, Syria, Pakistan, Morocco and India as it seeks to replicate its successes at home and to tap growing demand for affordable, high quality housing.

This significant appointment is part of a recently launched initiative called "Afaq," meaning 'horizon' in Arabic. The initiative will channel UAE National talent into key positions throughout Emaar, in both the UAE, and abroad.
Issam Galadari. 
Issam Galadari.
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About Emaar Properties PJSC:
Emaar Properties, the Dubai-based Public Joint Stock Company, is listed on the Dubai Financial Market and is part of the Dow Jones Arab Titans Index. Emaar is the No. 1 real estate company in the world in terms of market capitalisation which is over US$40 billion. The company announced that its net profits for the first nine months to September 30 climbed 255 per cent, to a record AED 3.690 billion. The figures represent a substantial increase on the AED 1.039 billion in the same period a year ago. The company also reported an impressive 77 per cent rise in revenues to AED 6.757 billion, from AED 3.808 billion for the same period in 2004.

The company has witnessed tremendous growth since its inception in 1997 and boasts a rapidly growing tenant base with more than 12,000 homes handed over to satisfied customers to date. Currently, it has several major real estate projects under various stages of development in Dubai including Arabian Ranches, Dubai Marina, Emirates Hills, The Views, The Meadows, The Springs, The Lakes and The Greens. The company also owns and manages the Gold and Diamond Park.

Emaar has started construction on its most ambitious project to date, the Burj Dubai, which comprises the Burj Dubai - the tallest tower in the world when completed in 2008, The Dubai Mall, Burj Dubai Boulevard, The Lofts, The Old Town, The Old Town Island, The Residences, Burj Views, man-made lakes, landscaped parks and gardens. The company has joint ventures and projects across the region covering Saudi Arabia, Egypt, Syria, Morocco, India and Pakistan. Recently the award winning property developer announced plans to aggressively

expand the retail sector with investments of over AED 15 billion to develop approximately 100 malls in the mega emerging markets of the Middle East, North Africa and the Indian subcontinent. In addition, Emaar has teamed up with Giorgio Armani S.p.A to build and manage 10 Armani hotels and resorts across the world; an Armani hotel will feature in Emaar's flagship Burj Dubai tower.

While continuing to actively pursue expansion in its core business of innovative, high quality real estate development, Emaar has diversified into related business lines to further build value for its 41,000 shareholders, which includes the Government of Dubai. Emaar owns and manages two subsidiaries - Dubai Bank, focused on retail and commercial banking and EMRILL, a joint venture with the UK-based Carillion which provides innovative property and facilities management services. Emaar is also the majority shareholder in Amlak Finance, UAE's leading Islamic home financing company. For further information, please visit www.emaar.com.

For further information, please contact:

Kelly Home / Linsey Worgan
ASDA'A Public Relations
Exclusive Affiliate of Edelman PR Worldwide
in Middle East & North Africa
Tel: (+971 4) 335 5969; Fax: (+971 4) 335 6080

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