• HSBC

Emaar appoints Mohammed Al Falasi as Pakistan head to drive country operations

  • United Arab Emirates: Monday, January 30 - 2006 at 13:02
  • PRESS RELEASE

Emaar Properties, the world's largest property development company by market capitalization, has appointed Mohammed Al Falasi to head its operations across Pakistan.

"As a highly qualified rising businessman in the community, Mohammed Al Falasi is well placed to lead Emaar's growth in Pakistan. In Al Falasi, we have acquired a country head who is ambitious, resourceful and knowledgeable in the ins and outs of this company," said Emaar Chairman Mohamed Ali Alabbar.

Prior to his appointment as Managing Director of Pakistan, Al Falasi worked across the board at Emaar in everything from sales to property management. In 1998, he began his career with the organization as a sales representative promoting one of Emaar´s first properties, Emirates Hills, then left to help launch the Dubai Financial Market (DFM) where he was responsible for monitoring, managing and analysing market performance. Upon rejoining Emaar in 2002, Al Falasi took on much wider responsibilities that encompassed property, retail and even facilities management.

In December of 2004, Al Falasi took charge of Emaar's projects in Karachi and Islamabad.

"With its population boom and overall economic growth, Pakistan is key for Emaar's master planned developments encompassing housing, commercial and retail. With a population of over 150 million people, we believe Emaar can be the largest real estate developer in Pakistan in the near future. I am proud to help lead the company's expansion within this growing nation and ensure that we work in close collaboration with government institutions across the country,"


said Mohammed Al Falasi.

Al Falasi, who was educated in the United States with a Bachelor of Arts in Business Administration from Eastern Washington University, is part of a growing number of highly skilled UAE nationals within Emaar in senior positions.

"I enjoy the challenges and speed of working with a company like Emaar," said Al Falasi. "It is my great honour to work so closely with the Chairman who I believe has a great vision for this organization. Emaar's expansion across the Middle East, North Africa and Subcontinent region allows us to replicate what we have do so well within our home market - offer a variety of lifestyle options for people throughout the community," said Al Falasi.

This recent appointment is part of a newly 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.
Mohammed Al Falasi. 
Mohammed Al Falasi.
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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 year ended 31 December, 2005 climbed 180 per cent, to a record AED 4.731 billion. The figures represent a substantial increase on the AED 1.691 billion for the year 2004. The company also reported an impressive 59 per cent rise in revenues to AED 8.361 billion for the year, as compared to AED 5.248 billion for the year 2004.

The company has witnessed tremendous growth since its inception in 1997 and boasts a rapidly growing tenant base with more than 12,800 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 EMRILL, a joint venture with the UK-based Carillion which provides innovative property and facilities management services. Emaar also holds 30 per cent equity in Dubai Bank, focused on retail and commercial banking and is the majority shareholder in Amlak Finance, UAE's leading Islamic home financing company.

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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