The total white décor trend has been booming for years. And now more than ever, it has established itself as one of the essentials colours, especially in minimalistic developments such as Bliss at the Arabian Ranches III where whitewashed townhouses perfectly reflect the idyllic feel of this first-of-its-kind urban village concept in Dubai. 

When decorating a room, or a home, we generally use a range of two or three colours. However, if you want bright, elegant and pure spaces, total white is a perfect choice.

Nevertheless, there are different variants and adaptations to the total white tendency. You can go white all the way and choose to decorate your space in all-white elements from floors to ceilings, including doors and walls. Alternatively, you can introduce some features in some colour to break the structure. This can be done with subtle elements, like a rug, or cushions, a lamp or a vase.

Another variant is introducing bold colours in an all-white room, trendy colours like red, blue, pink. Or you might opt for different shades of white or light amber (like in our Bliss Ivory and Amber townhouse collections where the whole palette is designed to accentuate the idyllic and peaceful feel of the place).

The perfect total white

At first glance, it would seem that an all-white décor is less complicated, but in reality, it is a tricky trend that requires a lot of creativity to make it stand out and to convey the right vibes. This is why our Emaar architects introduced a play of shapes and textures in the building materials to create a luxurious effect without losing any of the purity of the all-white surroundings.

When decorating the interiors of your townhouse, you can create more textures by choosing contrasting textures between the carpet and the curtains or the main sofas that you can choose in different shades of white.

The lighting is another crucial element that dictates the success of an all-white trend. Cosy lamps, in this case, are perfect for adding warmth and avoiding excessive brightness.

In a nutshell, an all-white décor brings a lot of light and create a feeling of spaciousness, elegance and purity. It also fits any decorative style you might choose and could be refreshed effortlessly by updating your accessories and wall art occasionally.

Dubai, UAE; 27 April, 2021: Emaar Malls PJSC held its Annual General Meeting (AGM) today and its Board of Directors reflected on the company’s achievements despite the challenging market conditions affected by the Covid-19 pandemic on the global economy and the retail industry.

The Board of Directors highlighted Emaar Malls PJSC’s efforts to support Dubai Government’s fight against Covid-19 with the implementation of Vaccination Hub at The Dubai Mall. They also highlighted Emaar Malls’ support to their retail tenants’ financial wellbeing and efforts to protect the SME’s by providing more than AED 1 billion (US$ 272 million) in rental relief during 2020. The support was further extended until 31 March 2021.

During the AGM, the Directors Report on the primary activities, business overview and financial results, Auditors’ Report and Consolidated Financial Statements of the company for the year 2020 were approved.

Emaar Malls PJSC recorded revenue of AED 3.508 billion (US$ 955 million) in 2020. Overall net profit in 2020 amounted to AED 704 million (US$ 192 million). Namshi, the regional

e-commerce fashion and lifestyle platform, a wholly owned subsidiary of the company, recorded sales of AED 1.316 billion (US$ 358 million), increased by 28 per cent compared to the previous year. Namshi’s strong performance is attributed to its continual growth in Saudi Arabia, increase of 283 brands on the platform and providing customers with the latest trends.

Mohamed Alabbar, Founder and Managing Director of Emaar Properties, said: “Without the phenomenal contribution of our Shareholders and employees in the previous year, Emaar would not be in its robust position that it is today. In one of the most challenging times in decades, together, we have shown incredible adaptability enabling Emaar Malls to continuously deliver the ultimate shopping and entertainment experience for residents and tourists alike.

“We expect the positive trend to continue in the year ahead as we witness guests returning to our malls and entertainment attractions with optimism. Digital transformation is at the root of our business and we endeavour to intelligently connect and communicate with our customers and shareholders, to support business growth,” Alabbar added.

The AGM went on to underline the company’s rigorous measures it took to maintain stability of the business throughout 2020, despite the global pandemic that affected businesses across the world. New digital initiatives were rapidly developed and implemented to ensure optimal efficiency for the malls’ operational requirements. Customers were also able to continue to enjoy the very best shopping experience throughout 2020, while maintaining the safety of its guests.

Ends

Note to Editors

About Emaar Malls:

Emaar Malls’ properties include some of the most iconic malls, entertainment and community retail centres in the Middle East including The Dubai Mall, its flagship asset, which has been the most visited shopping and entertainment mall worldwide for the last five years.

Emaar Malls also owns and manages Souk Al Bahar, an Arabesque-style dining and entertainment development in Downtown Dubai; Dubai Marina Mall, a lifestyle shopping mall for residents and visitors of the Dubai Marina community; and Gold & Diamond Park, a shopping destination dedicated to gold and jewellery.

Emaar Malls’ properties are developed as an integral part of the master plan developments of its controlling shareholder, Emaar Properties, and are strategically located in key areas of Dubai that benefits from favourable socio-economic demographics and increasing tourism.

For more information:

JES Media
emaar@jesmedia.ae
00971 (0) 4 567 6717

Dubai, UAE; 11 April 2021: Today, 11 April 2021, Emaar Properties PJSC (DFM: EMAAR) held its 25th Annual General Meeting (AGM), where its Board of Directors discussed the company’s solid performance in 2020 despite the challenges of the Covid-19 pandemic. The Board highlighted the stringent measures it took to safeguard continued robust business performance.

The dividend distribution proposal from the Board of Directors representing 10 per cent of the share capital was approved at the AGM, confirming Emaar’s keenness to ensure added value for its shareholders. The shareholders also elected a new Board of Directors composed of 9 members who have the adequate skills and expertise to take Emaar to the next level of future growth.

The new Board of Directors elected for 2021 include Mr. Mohamed Ali Rashid Alabbar, Mr Jassim Mohammed AbdulRahim Al Ali, Mr. Ahmad Thani Rashed Al Matrooshi, Mr. Jamal Majed Khalfan Bin Theniyah, Mr Buti Obaid Buti AlMulla,
Ms. Eman Mahmood Ahmed Abdulrazzaq, Mr. Ahmed Jamal H Jawa, Mr. Helel Saeed Salem Saeed Almarri, Mr Sultan Saeed Mohammed Nasser AlMansoori.

During the AGM, the Board of Directors’ 2020 report on the company’s activities and financial position and the Auditor’s report have been also approved.

Emaar recorded overall property sales of AED 10.902 billion (US$ 2.968 billion) for 2020 of which AED 6.321 billion (US$ 1.721 billion) was achieved in the UAE. The performance reflects sustained interest from investors, both domestic and foreign.

Emaar has handed over more than 72,100 residential units in Dubai and international markets, with more than 26,000 currently under development in the UAE and 12,000 units in global markets.

Mohamed Alabbar, Founder, Emaar Properties, said: “We are grateful to our shareholders continual support, helping us to remain robust throughout 2020 and boost growth. We have been able to maintain our market position, despite the challenges brought by the pandemic and are looking forward to the development of our future innovative projects. We continue to redefine Dubai’s property landscape and our property sales of AED 10,902 million in 2020 is a testament to our resilience.

“By nurturing and developing our talents within Emaar, coupled with our constant digital transformation and product innovation, we have set the benchmark for future growth and long-term value creation for our shareholders. We remain committed to creating communities and transforming lifestyles for our customers locally and internationally,” Alabbar added.

Setting new benchmarks in design, build quality, and innovation, Emaar consistently offers premium experiences and lifestyle opportunities across market segments; and its properties continue to remain sought-after by investors at home as well as abroad.

With the recent merger of Emaar Properties and Emaar Malls that was announced on 2 March 2021, Emaar Properties and Emaar Malls will continue to pursue the satisfaction of commercial and regulatory conditions until further notice.

Visit emaar.com/en/investor-relations for more information.

Ends

Note to Editors:

About Emaar Properties:

Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer and provider of premium lifestyles, with a significant presence in the Middle East, North Africa and Asia. One of the world’s largest real estate companies, Emaar has a land bank of 1.7 billion sq. ft. in the UAE and key international markets.

With a proven track-record in delivery, Emaar has delivered over 72,100 residential units in Dubai and other global markets since 2002. Emaar has strong recurring revenue-generating assets with over 1,140,000 square metres of leasing revenue-generating assets and 27 hotels and resorts with 5,895 rooms (includes owned as well as managed hotels). Today, 50 per cent of the Emaar’s revenue is from its shopping malls & retail, hospitality & leisure and international subsidiaries.

Burj Khalifa, a global icon, and The Dubai Mall, the world’s most-visited retail and lifestyle destination, are among Emaar’s trophy destinations.

For more information:
JES Media
emaar@jesmedia.ae
00971 (0) 4 576 6717

Dubai, United Arab Emirates – 8 April, 2021: Emaar Development PJSC (DFM: EMAARDEV) held its Annual General Meeting (AGM) today, 8 April 2021. Its Board of Directors reflected on the company’s 2020 durable performance and resilience during challenging times.

The Board of Directors also expressed their commitment to delivering high-quality homes to its customers and despite the Covid-19 pandemic will continue to progress at speed for its upcoming master developments.

During the Annual General Meeting, the report by the Board of Directors on the activities and financial position of the company, and the Auditor’s report were also approved.

Emaar Development PJSC reported property sales of AED 6.308 billion (US$ 1.717 billion) and with a net profit of AED 1.657 billion (US$ 451 million) for 2020. Emaar continues to maintain a healthy sales backlog of AED 24.605 billion (US$ 6.699 billion) to be recognised in the coming years.

Emaar Development has delivered approximately 4,800 residential units in 2020 across prime locations, including Dubai Hills Estate, Dubai Creek Harbour, Downtown Dubai, Arabian Ranches and Emaar South. As of December 2020, Emaar has delivered more than 47,000 residential units, with over 26,000 residences currently under development in the UAE.

Emaar Development is expected to deliver over 6,000 residential units in 2021 across various masterplans mainly in Dubai Creek Harbour, Dubai Hills Estate and Downtown Dubai.

Recognising Emaar Development’s resilient performance despite the impact of the Covid-19 pandemic and its effect on companies globally, Mohamed Alabbar, Founder, Emaar Properties, said: “Emaar Development remains committed to its projects’ delivery timeframes and we are working diligently to continue to go above and beyond expectations. Thanks to the strength and commitment of our shareholders, management, and staff we have continued to remain profitable despite the global challenges.

“We are optimistic that 2021 will see market conditions continue to gradually improve, and Emaar Development is dedicated to driving its key projects at optimal speed through digital innovation and by continually adopting future-forward concepts to deliver world-class developments,” Alabbar added.

Ends

 Note to Editors:

About Emaar Development PJSC:

Emaar Development is the leading developer of residential and commercial build-to-sell (BTS) assets in the UAE. The company is behind iconic freehold master-planned communities in Dubai including Emirates Living, Downtown Dubai, Dubai Marina and Arabian Ranches, and has delivered over 47,000 residential units since 2002. The company has a sales backlog of over AED 24.605 billion, and is a high cash flow generating business, highlighting the robust fundamentals of the company, with over 26,000 residential units under development to be delivered. For more information, please visit

www.www.dubaiemaar.cn/en/investor-relations/

For more information:
JES Media
emaar@jesmedia.ae
00971 (0) 4 567 6717

  • Preparations are on track for the breathtaking fireworks and light & laser shows
  • New Year’s Eve gala will be broadcasted live globally and live-streamed on mydubainewyear.com
  • Preventative COVID-19 measures will be implemented in line with Dubai Government guidelines and directives

Emaar, the master developer of the Burj Khalifa, will celebrate New Year’s Eve with a grand masterpiece of fireworks and light & laser show on the world’s tallest building in Downtown Dubai. The health and safety of guests attending Emaar NYE 2021 will be of paramount importance. To ensure public health and safety for all visitors, Emaar will implement several preventative measures, including thermal cameras, social distancing, contactless payments and frequent deep cleaning and disinfection, in line with Dubai Government guidelines and directives.

Whether in Downtown Dubai or watching online or on television from all around the world, the public are guaranteed a show for the ages that will live long in memory. Emaar NYE 2021 will be broadcasted live globally and live-streamed from 08:30pm local time on mydubainewyear.com.

Commenting on the New Year’s Eve spectacular in Downtown Dubai, Mohamed Alabbar, founder of Emaar, said: “Delivering world-class experiences is part of Emaar’s DNA and this year we will deliver an even bigger gala event. The world is facing challenges, but we are united, and we will come out of this year stronger than ever before. We want to send a message of hope, happiness and positivity into the world because that is the spirit of Dubai that we have learned from His Highness Sheikh Mohammed bin Rashid Al Maktoum, who continues to inspire what we do with his extraordinary leadership. Here we reinvent ourselves, achieve the impossible and execute the unimaginable, and we are doing that again with Emaar NYE 2021.”

Downtown Dubai will be adorned with spectacular decorations to capture the festive spirit of the occasion. The fireworks and laser & light show will be synchronised to The Dubai Fountain Show and promises to reflect a true celebration of Dubai. The health and safety of guests attending Emaar NYE 2021 will be of paramount importance.

Building upon the prestige of Downtown Dubai and giving everyone the opportunity to be part of this grand showcase, restaurants and hotels on Sheikh Mohamed Bin Rashid Boulevard and The Dubai Mall terraces, will be open and are taking bookings for the night’s celebrations. Burj Park will welcome families, with food and beverage outlets and a large screen that will show New Year’s Eve events from around the world. More information on the booking for this area will be announced shortly.

About Emaar Properties:

Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer and provider of premium lifestyles, with a significant presence in the Middle East, North Africa and Asia. One of the world’s largest real estate companies, Emaar has a land bank of 1.7 billion sq. ft. in the UAE and key international markets.

With a proven track-record in delivery, Emaar has delivered over 67,700 residential units in Dubai and other global markets since 2002. Emaar has strong recurring revenue-generating assets with over 880,000 square metres of leasing revenue-generating assets and 25 hotels and resorts with 5,342 rooms (includes owned as well as managed hotels). Today, 46 per cent of the Emaar’s revenue is from its shopping malls & retail, hospitality & leisure and international subsidiaries.

Burj Khalifa, a global icon, and The Dubai Mall, the world’s most-visited retail and lifestyle destination, are among Emaar’s trophy destinations.

For more information please get in touch on the below:

Neil Halligan

JES Media

emaar@jesmedia.ae

00971 (0) 4 576 6717

With reference to the directives issued by the Securities and Commodities Authority (SCA) regarding cash dividends not received by the shareholders of listed local public joint stock companies and held/kept by companies before March 1, 2015.

Emaar Properties P.J.S.C (the Company) requests the shareholders who are entitled to non-received cash dividends for the period before March 1, 2015, to visit the below listed PDF links to ensure that the shareholder’s name is included as entitled to cash dividends, with the need to provide the Emaar Properties, in case the shareholder is entitled to any cash dividends, with the following documents for the payment of the said dividends:

  • A letter signed by the shareholder or his/her legal representative addressed to the Company including a request to issue a check or make a bank transfer for the value of the payable cash dividends.
  • The original Emirates ID of the shareholder and a copy of the same or the original passport of the shareholder and a copy of the same.
  • In case there is a general or special power of attorney for the shareholder, please provide the original duly attested power of attorney with a copy of the same, as well as the Emirates ID of the representative and a copy of the same or the original passport of the representative and a copy of the same.
  • Any other documents required by the Company.

Please note that as of February 14, 2021, all dividends that were not received by the eligible shareholders will be transferred to SCA which will be responsible for the payment of the dividends to the eligible shareholders upon claiming the same. SCA will publish a statement on its website and the financial markets websites clarifying its assumption of this role with all relevant details in due course.

Check the Emaar Unclaimed Dividends below,

1999 ; 2003 ; 2004 ; 2005 ; 2006 ; 2010 ; 2011 ; 2012 ; 2013 ; 2014-normal ; 2014-special 

About Emaar Properties:

Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer and provider of premium lifestyles, with a significant presence in the Middle East, North Africa and Asia. One of the world’s largest real estate companies, Emaar has a land bank of 1.7 billion sq. ft. in the UAE and key international markets.

With a proven track-record in delivery, Emaar has delivered over 64,700 residential units in Dubai and other global markets since 2002. Emaar has strong recurring revenue-generating assets with over 880,000 square metres of leasing revenue-generating assets and 23 hotels and resorts with 5,264 rooms (includes owned as well as managed hotels). Today, 46 per cent of the Emaar’s revenue is from its shopping malls & retail, hospitality & leisure and international subsidiaries.

Burj Khalifa, a global icon, and The Dubai Mall, the world’s most-visited retail and lifestyle destination, are among Emaar’s trophy destinations.

For more information please get in touch on the below:

Tel No.: 043673310, Email: investor-relations@emaar.ae

Downtown EMAAR
  • AGM approved report by the Board of Directors on the activities and financial position of the company

Emaar group held its 24th Annual General Meeting (AGM) today, during which the Board of Directors highlighted the resilient performance of Emaar Properties, Emaar Development and Emaar Malls in FY 2019, and the measures that have been taken to confront the outbreak of COVID-19 pandemic, to ensure continuity of all business and safeguard the interests of the organization and its shareholders.

During the AGM, the report by the Board of Directors on the activities and financial position of the company and the Auditor’s report has been also approved.

Notwithstanding the fact that COVID-19 pandemic had impacted the vast majority of companies around the world, Mohamed Alabbar, Chairman of Emaar Properties affirmed that the Emaar showed significant resilience during the crisis. “We in Emaar took several strict measures and procedures that enabled us to ensure the continuity of our business. These included reducing the operating costs, restructuring some of our activities in line with our future vision that revolves around promoting the adoption of digital systems, with a view to maintaining the required level of cash liquidity”, Alabbar said.

“We are working diligently to complete all our projects for delivery within the timeframes originally specified. We hereby reiterate that the company has an extremely strong position, thanks to its efficient management team and employees as well as the measures we have taken during this crisis,” he added.

“The current conditions in the market are likely to improve and we are optimistic about where the conditions will take us in the short term. However, we must at the same time keep an open eye on the markets, deal with it with extreme caution to avoid being in unfavorable situations, and to be well prepared for the future” Alabbar said.

Within the last few weeks, Alabbar and the executive leadership of Emaar, held series of meeting through video conferences with various leading sectors in the UAE, aimed at tackling the current economic situation.

Alabbar affirmed that Emaar will continuously strive to maximise shareholder value, through providing best customer service and having hard working resources in the company. “We are also implementing new digital initiatives which will significantly enhance value of our properties and assets to our customers and will also enable us to continuously innovate with new products and services.” he said.

Emaar has consistently outperformed itself despite operating in challenging market conditions. Having sold over 30,500 residential units in the past 10 years, recording sales of AED 88.4 billion (US$ 24.07 billion), Emaar’s off-plan sales of AED 14.4 billion (US$ 3.92 billion) in 2018, accounted for more than 65 per cent of the total off-plan sales, valued at AED 21.4 billion (US$ 5.83 billion) in Dubai.

About Emaar Properties:

Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer and provider of premium lifestyles, with a significant presence in the Middle East, North Africa and Asia. One of the world’s largest real estate companies, Emaar has a land bank of 1.7 billion sq. ft in the UAE and key international markets.

With a proven track-record in delivery, Emaar has delivered over 63,000 residential units in Dubai and other global markets since 2002. Emaar has strong recurring revenue generating assets with over 880,000 square metres of leasing revenue generating assets and 21 hotels and resorts with 4,875 rooms (includes owned as well as managed hotels). Today, 48 per cent of the Emaar’s revenue is from its shopping malls & retail, hospitality & leisure and international subsidiaries.

Burj Khalifa, a global icon, and The Dubai Mall, the world’s most visited retail and lifestyle destination, are among Emaar’s trophy developments. Emaar has now announced, Dubai Creek Tower, a magnificent icon that will serve as the centerpiece of the Dubai Creek Harbour development, as well as Dubai Square, the retail metropolis of the future. For more information, please visit our website www.emaar.com

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Emaar holds second day of special zoom conferences with key stakeholders

Emaar chairman Mohamed Alabbar has told real estate brokers to join him in fighting revive the industry, as the UAE gradually eases Covid-19 restrictions.

In the second of a series of calls with key Emaar stakeholders, Alabbar said: “We are in this together and we owe it to the city and to the country to work harder than ever to revive the real estate market.”

Alabbar outlined a series of on-going benefits for UAE real estate investors, and several steps being taken to help stimulate the market.

He said: “You, the agents, are ambassadors for Dubai and the UAE. We will do everything we can to support you with new and out of the box ideas. Whether it is through innovative digital offerings or focusing on the world class infrastructure and connectivity the UAE offers, I urge you today – do not sit still, grab this opportunity and work with us.”

About Emaar Properties PJSC

Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer and provider of premium lifestyles, with a significant presence in the Middle East, North Africa and Asia. One of the world’s largest real estate companies, Emaar has a land bank of 1.6 billion sq. ft in the UAE and key international markets.

With a proven track-record in delivery, Emaar has delivered over 56,000 residential units in Dubai and other global markets since 2002. As the second largest developer outside of China, Emaar has strong recurring revenue generating assets with over 880,000 square meters of leasing revenue generating assets and 21 hotels and resorts with 4,679 rooms (includes owned as well as managed hotels). Emaar’s current pipeline of developments includes cutting-edge residential and mixed-use projects such as Dubai Hills Estate, Dubai Creek Harbour, Mina Rashid and Emaar South.

Emaar’s successful track record has been recognized by a number of awarding bodies including Forbes Magazine which in 2019 listed Emaar Properties among the Top 20 in a list of The World’s Best Regarded Companies. This is in addition to placing first in the Forbes Middle East 2017 list of 100 leading real estate companies in the Arab World.

Today, 46 per cent of Emaar’s revenue is from its shopping malls & retail, hospitality & leisure and international subsidiaries. Burj Khalifa, a global icon, and The Dubai Mall, the world’s most visited retail and lifestyle destination, are among Emaar’s trophy developments. Emaar has now announced, Dubai Creek Tower, a magnificent icon that will serve as the centrepiece of the Dubai Creek Harbour development, as well as Dubai Square, the retail metropolis of the future. For more information, please visit our website www.emaar.com

Emaar holds the final session of special virtual conferences with key stakeholders

Emaar chairman Mohamed Alabbar has told the UAE’s leading contractors that they must prepare for a new way of working as the economic activity gradually starts to pick up.

In the final of a special series of virtual conference calls with key stakeholders, Alabbar said: “None of us have faced anything like this before, and as we work together I am confident that as a company and a country we will come out of this crisis. But we must now prepare for a new way of working. There is a new normal, a new dawn, that awaits us.”

He added: “Together, we must look closely at our systems, our productivity, our efficiencies, our technologies. This is the time for us to take stock not just of our great achievements in the past two decades, but how we can continue to develop the UAE’s world class infrastructure, communities and cultures.”

Alabbar also committed to meeting with the contractors once every three months to review the on-going crisis, and to ensure their own stability. He explained: “You have grown with us on this incredible journey as true partners. Now is the time for us to protect you in any way we can, and make sure that both of us are in a strong position to benefit from the recovery that I am certain will come.”

About Emaar Properties PJSC

Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer and provider of premium lifestyles, with a significant presence in the Middle East, North Africa and Asia. One of the world’s largest real estate companies, Emaar has a land bank of 1.6 billion sq. ft in the UAE and key international markets.

With a proven track-record in delivery, Emaar has delivered over 56,000 residential units in Dubai and other global markets since 2002. As the second largest developer outside of China, Emaar has strong recurring revenue generating assets with over 880,000 square meters of leasing revenue generating assets and 21 hotels and resorts with 4,679 rooms (includes owned as well as managed hotels). Emaar’s current pipeline of developments includes cutting-edge residential and mixed-use projects such as Dubai Hills Estate, Dubai Creek Harbour, Mina Rashid and Emaar South.

Emaar’s successful track record has been recognized by a number of awarding bodies including Forbes Magazine which in 2019 listed Emaar Properties among the Top 20 in a list of The World’s Best Regarded Companies. This is in addition to placing first in the Forbes Middle East 2017 list of 100 leading real estate companies in the Arab World.

Today, 46 per cent of Emaar’s revenue is from its shopping malls & retail, hospitality & leisure and international subsidiaries. Burj Khalifa, a global icon, and The Dubai Mall, the world’s most visited retail and lifestyle destination, are among Emaar’s trophy developments. Emaar has now announced, Dubai Creek Tower, a magnificent icon that will serve as the centrepiece of the Dubai Creek Harbour development, as well as Dubai Square, the retail metropolis of the future. For more information, please visit our website www.emaar.com

Dubai, United Arab Emirates; February 09, 2020: Emaar Malls (DFM: EMAARMALLS), the shopping malls and retail business majority-owned by Emaar Properties (DFM: EMAAR), recorded a 5 per cent increase in revenue to AED 4.673 billion (US$ 1.272 billion), compared to the 2018, AED 4.446 billion (US$ 1.210 billion). Overall net profit in 2019 amounted to AED 2.286 billion (US$ 622 million), similar to net profit for 2018 of AED 2.230 billion (US$ 607 million).

Revenue grew by 4 per cent to AED 1.261 billion (US$ 343 million) during the last quarter of 2019 (October to December) when compared to same period in 2018.

Namshi

Namshi, the regional e-commerce fashion and lifestyle platform was fully acquired in 2019 by Emaar Malls. The online retailer reported sales in Q4 2019 of AED 339 million (US$ 92 million), an increase of 40 per cent compared to the last quarter of 2018. During 2019, the wholly owned subsidiary of Emaar Malls recorded sales of AED 1.028 billion (US$ 280 million) increasing 21 per cent compared to the previous year. Namshi’s consistent success is attributed to its popular ‘Black November’ campaign and considerable growth in the Saudi market. 

Strong occupancy and footfall

Occupancy levels within Emaar Malls assets – The Dubai Mall, Dubai Marina Mall, Gold & Diamond Park, Souk Al Bahar and the Community Retail Centres – was consistent at 92 per cent. In 2019, there were approximately 136 million visitors collectively with The Dubai Mall maintaining its exceptional performance welcoming 84 million visitors in 2019. 

Engaging loyalty programs across Emaar Malls entities are said to have fueled the growth seen in 2019. Strategic partnerships including the Emirates Skywards programs play a vital role in the Emaar Malls customer engagement strategy.

Commenting on the 2019 performance, Mohamed Alabbar, Chairman of Emaar and Board Member of Emaar Malls, said: “2019 was a great year for Emaar Malls with occupancy and visitor levels growing steadily. This uptick is a result of our continuous innovation as we refresh the customer journey, diversify our portfolio and invest in opportunities to bring our destinations to life. Examples of this include the recently opened Zabeel Extension at The Dubai Mall and the complete acquisition of Namshi, both of which contributed to our achievements in 2019. We expect to see this success continue through 2020, as we focus on loyalty programs to drive repeat visits and open new destinations to welcome inbound tourism driven by Expo 2020.”

Upcoming Assets

In line with the Emaar growth strategy,  Emaar is set to open Dubai Hills Mall in Dubai Hills Estate in Q4 2020. The 2 million square foot retail establishment will feature nearly 550 retail and entertainment destinations including four major family entertainment and leisure centres along with a cineplex, hypermarket, seven anchor retail experience stores, and over 7,000 parking spaces. Emaar Malls is also redeveloping Meadows Village to increase its GLA by approximately 95,000 sq. ft, and is scheduled for completion in 2020, further enhancing its Community Retail Centres.

Emaar Malls has partnered with Time Out Group PLC and is set to open first Time Out Market in the region at Souk Al Bahar, an Arabic-style retail, entertainment and dining destination right at the heart of Downtown Dubai. The unique waterfront location just by The Dubai Fountain and adjacent to The Dubai Mall and Burj Khalifa is one of the region’s prime destinations, attracting millions of visitors each year.

At Time Out Market Dubai, visitors will get to explore and enjoy food from 16 of Dubai’s top chefs and celebrated restaurateurs with three lounges and cultural experiences. The carefully curated lifestyle experience is set to define a new niche for the city and complements the current culinary offering. Emaar Malls is committed to bringing innovative entertainment attractions by working with global partners such as Time Out. With the opening expected in Q4 2020, Time Out Market will occupy 30,000 sq. ft., accommodating around 670 seats.