Dubai is renowned for its remarkable architecture and luxurious lifestyle, and Emaar Properties is one of the reasons behind it. Emaar is a premier real estate development company in Dubai that has transformed the skyline of the city with its awe-inspiring buildings.
However, have you ever wondered who owns Emaar in Dubai? Let’s find out.
The Founding of Emaar Properties
Emaar Properties was founded in 1997 by Mohamed Alabbar, a prominent businessman from Dubai. The company’s first project was the construction of the iconic Burj Khalifa, which became the tallest building in the world upon its completion in 2010. Since then, Emaar has developed numerous other projects that have become landmarks of Dubai.
Emaar Properties Ownership
Emaar Properties PJSC is a publicly-traded company on the Dubai Financial Market (DFM). As per their latest financial statements released in 2020, approximately 29% of the company is owned by the Investment Corporation of Dubai (ICD), which is a government-owned entity.
Moreover, around 71% of Emaar’s shares are owned by individual and institutional investors from all over the world. The largest institutional investor in Emaar Properties is BlackRock Inc., an American multinational investment management corporation.
Emaar’s Business Operations
Emaar’s business operations extend beyond real estate development. The company has diversified into several sectors, including hospitality and leisure, malls and retail centers, entertainment venues, and education.
Under its hospitality division, Emaar operates various luxury hotels and resorts worldwide under brands such as Address Hotels + Resorts, Vida Hotels and Resorts, Rove Hotels, Armani Hotels & Resorts, among others.
In addition to this, Emaar also owns and operates several shopping malls across Dubai like The Dubai Mall, Dubai Marina Mall, and the newly opened Dubai Hills Mall. These malls are known for their high-end stores and entertainment options.
The Future of Emaar Properties
Emaar Properties has an ambitious growth plan that involves expanding its operations globally. The company has already established a presence in several countries like Egypt, Saudi Arabia, Turkey, India, and Pakistan.
In addition to this, Emaar is also focusing on developing sustainable communities in Dubai that offer a healthy lifestyle to its residents. The company’s latest project is the Emaar Beachfront development that comprises residential buildings and a private beach.
Conclusion
To summarize, while the Investment Corporation of Dubai owns almost 29% of Emaar Properties, the majority of the company’s shares are owned by individual and institutional investors worldwide. With its diverse business operations and ambitious growth plans, Emaar continues to play a significant role in shaping the future of Dubai’s real estate sector.
10 Related Question Answers Found
Emaar Dubai is a renowned real estate development company based in Dubai, United Arab Emirates. It is known for its iconic projects that have reshaped the city’s skyline and contributed to its global reputation as a modern metropolis. In this article, we will delve into the ownership structure of Emaar Dubai and explore the key stakeholders involved.
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What Does Emaar Mean in Dubai? Emaar is a name that is synonymous with the development and growth of Dubai. It is one of the largest real estate developers in the world and has played a significant role in shaping Dubai’s skyline.
