The developer in Dubai: Emaar Properties
Dubai, once a desert city, has risen like a phoenix from the sands to become a world-renowned metropolis. It’s often compared to the world’s most iconic cities for its rapid growth, stunning architecture and outsized ambitions.
At the heart of this transformation is Emaar Properties, a real estate developer that has played a key role in the evolution of Dubai’s urban landscape. In this article, we explore the history of Emaar, its impact on Dubai and its iconic projects.
The story of Emaar properties
Founded in 1997, Emaar Properties is a UAE-based company specializing in real estate development. It is headed by Mohamed Alabbar, who is considered one of the key figures in the region’s real estate boom.
Emaar is widely credited with helping transform Dubai into a global destination for tourism, commerce and real estate investment.
Emaar’s philosophy is based on creating long-term value for its shareholders through the development of iconic projects that combine innovation, luxury and sustainability.
What started out as a local company quickly grew into a multinational conglomerate, with operations in over 36 countries.
Emaar Properties' role in transforming Dubai
The city of Dubai has undergone a rapid transformation over the past two decades. Emaar has been a key driver of this growth, focusing on real estate projects that have not only boosted the local economy, but also attracted worldwide attention.
Emaar has leveraged Dubai’s vision to become a world-class destination. By working closely with the government, the company was able to align itself with national initiatives, such as the Dubai 2021 vision, which aimed to promote the city’s innovation, infrastructure and industry.
Emblematic Emaar projects
Residential area of Emaar properties
Arabian Ranches
A luxury residential development featuring villas and townhouses set around a golf course.- The Greens: This residential neighborhood is known for its low-rise apartments and lush green spaces.
- The Springs and The Meadows: These two residential communities are popular with families and offer a peaceful living environment with modern amenities.
- Emaar South: Located near Al Maktoum International Airport, Emaar South is a mixed-use community with residences, retail space and leisure facilities.
- Emaar Beachfront: A beachfront residential development offering luxurious residences with spectacular views of the Persian Gulf.
Dubai Hills Estate
A mixed-use development with residences, offices, hotels and a huge central park.
Who owns Emaar?
Emaar Properties is a public company listed on the Dubai Financial Market. This means that Emaar’s ownership is divided among the shareholders who hold its shares. At my last update in September 2021, shareholders included a mix of institutional, private and individual investors.
One of the major shareholders is the Dubai government, via the investment company Investment Corporation of Dubai (ICD). ICD holds a significant stake (50%) in Emaar, giving the government considerable influence over the company.
Mohamed Alabbar, Emaar’s founder and chairman, is also an influential shareholder in the company.
Future prospects and sustainability
Emaar Properties is not resting on its laurels. Looking to the future, the company continues to play an active role in the transformation of Dubai and other parts of the world. The focus is increasingly on sustainability, with projects that incorporate green technologies and promote sustainable lifestyles.
In conclusion, Emaar Properties is inextricably linked to the history of Dubai’s transformation. Its bold vision, sense of innovation and commitment to excellence continue to shape the urban landscape not only of Dubai, but also of regions beyond the borders of the United Arab Emirates.
As the world moves towards more sustainable practices, Emaar is well placed to be a leader in the real estate development of the future.
Would you like to invest in an Emaar real estate project? Don’t hesitate to contact our real estate agency in Dubai, a DRN agent will advise you on the best project for you.
