Emaar Properties highlights socio-economic contribution of integrated developments at Cityscape Global 2011
Trend-setting Downtown Dubai is model for modern urban developments
· Emaar showcases international projects across key emerging markets
Dubai, UAE; September 26, 2011: Emaar Properties PJSC, the global property developer with a significant presence in several emerging markets, is highlighting the social and economic contribution of its integrated developments at Cityscape Global, the premier real estate exhibition to be held from September 27 to 29, at Dubai International Convention & Exhibition Centre, Dubai.
A Foundation Sponsor of Cityscape Global, Emaar Properties is underlining the direct and indirect economic impact of master-planned communities on local economies, especially their contribution to job creation and in promoting ancillary industries. This is demonstrated through a spectacular showcase of Downtown Dubai, its 500-acre mega-development anchored by Burj Khalifa, the world’s tallest building.
Mr Ahmad Al Matrooshi, Managing Director, Emaar Properties PJSC, said: “For 14 years, Emaar has been at the forefront of driving the growth of Dubai’s real estate sector and promoting traditional growth sectors such as tourism, retail and hospitality, through our integrated developments. Today, we have a significant presence in several key global markets, where our projects contribute significantly to the local economies by creating jobs and driving ancillary industries.”
He added: “Through our participation at Cityscape Global, we are reiterating that our approach to integrated community development with a focus on delivering world-class quality standards has earned global resonance. Our projects, such as Downtown Dubai, are models in modern urban development, and we are on course to replicating our success in Dubai, in other global markets.”
The 540 sq m pavilion of Emaar Properties, located in Hall 7 of the Dubai International Convention Centre, will feature several showcases by Emaar’s various country subsidiaries and joint ventures.
The centrepiece of the stand will be Downtown Dubai, described as ‘The Centre of Now.’ Featuring two malls, six hotels, leisure attractions, commercial towers and residential complexes in addition to the iconic Burj Khalifa, Downtown Dubai has set a new development dynamic in Dubai. The various components of Downtown Dubai contribute to the varied growth sectors of Dubai with The Dubai Mall alone hosting over 47 million visitors last year – a testament to its potential to boost tourism and retail.
At Cityscape Global, Emaar will also highlight its established communities in Dubai – Downton Dubai, Emirates Living, Dubai Marina and Arabian Ranches – and the existing and new inventory in its various developments, offering the opportunity for potential investors to be part of the vibrant Emaar communities.
Additionally, the company will underline the strengths of its hospitality & leisure and shopping mall & retail businesses, which contribute strongly to Emaar’s recurring revenues.
Putting the spotlight on its international projects, Emaar will have a dedicated showcase of projects by Emaar Middle East in Saudi Arabia – including Jeddah Gate, Al Khobar Lakes and the Emaar Residences at the Fairmont Makkah. All three projects have opened to strong investor response – and are on track for hand over later this year. New components and extensions in the second phase of Jeddah Gate will also be announced at Cityscape.
Among other key global projects of Emaar to be displayed at Cityscape Global are Tuscan Valley Houses in Istanbul, Turkey; Samarah Dead Sea Resort in Jordan; Canyon Views and Crescent Bay in Pakistan; BeitMisk in Lebanon; and The Eighth Gate in Syria.
Emaar is also showcasing Beverly West, an iconic 21-storey tower with only 35 high-end homes, strategically located in one of the most prestigious stretches of property in Los Angeles – between Wilshire Corridor and Beverly Hills. The few remaining homes in Beverly West will be of particular interest to investors looking at the US market.
Emaar has already handed over the first phase of Tuscan Valley Houses and Mirador villas in Canyon Views. The first commercial offices in The Eighth Gate have also been handed over within the Commercial Centre of the project, which is billed to become the No 1 business hub of Syria.
Emaar has a large roster of projects in various international markets including Egypt, where the first phase of homes will be handed over shortly in Uptown Cairo and Marassi with work on Mivida progressing as per schedule.
The Emaar pavilion will be true demonstration of the long-term growth strategy of the company focused on geographic expansion and its key business segments.
About Emaar Properties PJSC:
Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer with a significant presence in key markets world-wide. Besides building residential and commercial properties, the company also has proven competencies in shopping malls & retail, hospitality & leisure and financial services sectors.
Emaar inaugurated Burj Khalifa, the world's tallest building, and has opened The Dubai Mall, the world’s largest shopping and entertainment destination.
In Saudi Arabia, Emaar is developing King Abdullah Economic City, the region's largest private sector-led project in Saudi Arabia, featuring a Sea Port, Central Business District, Industrial Zone, Educational Zone, Residential Communities and Resort District.
Emaar has joined hands with Giorgio Armani to strengthen its presence in hospitality. For more information, visit www.emaar.com.