Emaar Properties

Building No. 3, Sheikh Zayed Road, Emaar Business Park, Dubai, United Arab Emirates

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About Emaar Properties

Summary

Emaar Properties is an Emirati real estate development company headquartered in the United Arab Emirates. It is a public joint-stock company listed on the Dubai Financial Market, with major shareholders including Dubai ruler Mohammed bin Rashid Al Maktoum and the Investment Corporation of Dubai. As of August 2023, Emaar had a market valuation of US$16.8 billion against a net asset valuation of US$37.6 billion recorded in December 2022.

Founded in 1997 by Mohamed Alabbar, Emaar initially operated with full ownership by the Dubai government before offering shares publicly in 2000, becoming the first property company in Dubai to allow foreign ownership. Early projects included Dubai Marina (2001) and Downtown Dubai, which houses Burj Khalifa, the world’s tallest building, and The Dubai Mall, one of the world’s largest shopping centres. Emaar International LLC was established in 2004, signalling the company’s expansion abroad.

The Dubai Mall opened in 2008, and Burj Khalifa followed in 2010. Emaar later developed the Dubai Fountain and several large residential communities such as Arabian Ranches, The Meadows, The Springs, and Dubai Marina. Its hospitality arm launched hotels including the Address series, Vida Hotels, and Manzil Downtown. In 2014, Emaar Malls Group became publicly listed after a major IPO.

Internationally, Emaar has projects in India, Egypt, Pakistan, Turkey, Lebanon, Jordan, Morocco, Saudi Arabia, Syria, Iraq, and the United States. Key developments include Uptown Cairo and Marassi in Egypt, Crescent Bay in Karachi, Emaar Square Mall in Istanbul, King Abdullah Economic City in Saudi Arabia, and the Hyderabad International Convention Centre in India. In 2008, Emaar acquired John Laing Homes in the US, forming Emaar North America.

History

Emaar Properties was founded in 1997 by Mohamed Alabbar and incorporated in Dubai, United Arab Emirates. At the time of its establishment, the Dubai government owned 100% of the company. In 2000, Emaar was listed on the Dubai Financial Market, becoming the first property company in Dubai to offer shares to foreign nationals. Following the Initial Public Offering (IPO), founding shareholders held 24.3% of the company. That same year, Emaar began shaping its large-scale development portfolio by announcing Dubai Marina, one of the first and largest waterfront projects in the region.

By 2003, Emaar revealed its most ambitious undertaking, Downtown Dubai, which included Burj Khalifa, later recognised as the world’s tallest building, and The Dubai Mall, one of the largest shopping malls globally. To support its international ambitions, the company established Emaar International LLC in 2004, marking its expansion into markets across Africa, Asia, North America, and the Middle East.

In 2006, Emaar acquired John Laing Homes in the United States for US$1 billion, but the subsidiary later filed for Chapter 11 bankruptcy in 2009 due to the global financial crisis. Despite this setback, the company pressed forward with its flagship developments. The Dubai Mall opened in 2008, and Burj Khalifa officially opened in 2010. By 2014, Emaar was managing real estate investments valued at over US$11.4 billion.

During this period, Emaar diversified into hospitality and residential communities. It launched large neighbourhood projects in Dubai, including Arabian Ranches, The Meadows, The Lakes, The Springs, The Greens, and further developments within Dubai Marina. In 2012, it unveiled the Address BLVD, a 72-storey hotel and serviced apartment tower in Downtown Dubai. By 2014, Emaar Malls Group had been listed on the Dubai Financial Market following one of the largest IPOs in the region since 2008. That same year, Burj Khalifa SKY observation deck was opened, becoming the world’s highest observation point at 555 metres.

In 2015, Emaar gained global recognition for hosting New Year’s Eve celebrations at Burj Khalifa with a Guinness World Record for the largest LED-illuminated façade. The company reported strong growth that year, including a 16% rise in net profit for the second quarter. It also rolled out innovative projects such as Dubai Trolley, the world’s first hydrogen-powered zero-emission street tram system, and opened the boutique Manzil Downtown hotel under its Vida Hotels brand.

Emaar announced in 2016 that it planned to build another record-breaking tower taller than Burj Khalifa, although the project has faced delays. Its international expansions were also significant. In Egypt, the company developed Uptown Cairo and Marassi, a large tourist resort on the Mediterranean coast. In India, Emaar established a joint venture with MGF Developments in 2005, undertaking projects such as the Hyderabad International Convention Centre and the 2010 Commonwealth Games Village in Delhi. In 2016, Emaar began the process of separating from MGF, with restructuring to take full control of Indian projects.

Further expansion included developments in Saudi Arabia with King Abdullah Economic City (KAEC), one of the largest private investments in the Kingdom. KAEC included a privately owned port opened in 2014 and plans for a city capable of housing 2 million people. In Syria, Emaar launched The Eighth Gate project in 2006. In Turkey, it developed the Tuscan Valley project in 2007, followed by the Emaar Square Mall in Istanbul, which opened in 2017. In Pakistan, the company began work on Crescent Bay in Karachi, a US$2.4 billion mixed-use waterfront development, and Canyon Views in Islamabad. In Iraq’s Kurdistan region, it announced the Downtown Erbil project in 2013. Emaar also launched projects in Lebanon, including Beit Misk, and Jordan, with the Samarah Dead Sea Resort.

The global financial crisis of 2008 and subsequent market fluctuations affected Emaar’s financial performance. In 2020, during the COVID-19 pandemic, Emaar reported a 48% drop in profits by September. In December that year, Mohamed Alabbar stepped down as chairman but continued to manage day-to-day operations as managing director. Emaar’s assets such as The Dubai Mall, which remains among the world’s largest shopping centres, continued to attract tens of millions of visitors annually.

In 2021, Emaar signed a Memorandum of Understanding with the governments of Dubai and Jammu & Kashmir to develop a 500,000 sq. ft. shopping mall in Srinagar. The agreement also covered potential investments in mixed-use projects in Jammu and Srinagar, expanding its footprint further into India.

By August 2023, Emaar had a market valuation of US$16.8 billion, with its net asset valuation standing at US$37.6 billion as of December 2022, based on third-party asset evaluations. The company retained its position as one of the largest developers in the UAE and a significant international player.

Emaar has consistently combined real estate development with hospitality and retail. The Dubai Mall, the Burj Khalifa, and the Dubai Fountain remain among its most recognised achievements. The company has also continued to grow its land bank, reported at over 235 million square metres in 2015, supporting its long-term growth strategy.

As of 2025, Emaar remains majority-owned by the Dubai government and key shareholders, with ongoing projects across the Middle East, South Asia, Africa, and North America. Its developments, such as residential communities, luxury hotels, malls, and landmark towers, continue to play a central role in shaping urban landscapes both in Dubai and internationally.

In 2024, the company was named Developer of the Year at the Arabian Business Achievement Awards, and Burj Khalifa earned the LEED Platinum certification for Operations and Maintenance of Existing Buildings. Additionally, Reel Cinemas at The Dubai Mall became the seventh Emaar Entertainment venue to be designated a Certified Autism Center™.

In 2023, Dubai Hills Park received the Sustainability Prize at the Landscape Middle East Awards, Address Grand Creek Harbour was highly commended for FM Mobilisation of the Year at the Facilities Management Awards, and Emaar Entertainment gained three honors at MENALAC: Skyviews Observatory as Most Unique Visitor Attraction, Reel Cinemas as Best Cinema Experience, and KidZania as Best Edutainment Center.

Portfolio

Emaar Properties holds a comprehensive and diversified portfolio across residential, commercial, retail, hospitality, leisure, and entertainment sectors. The company has delivered around 108,000 residential units in Dubai and international markets and manages a land bank exceeding 1.7 billion square feet.

In terms of master-planned communities and residential developments, Emaar has created some of the most recognised areas in Dubai. These include Downtown Dubai, which is home to Burj Khalifa and The Dubai Mall, as well as Dubai Marina, Dubai Hills Estate, The Valley, Emaar South, Arabian Ranches III, The Oasis, Expo Living, Emaar Beachfront, Rashid Yachts & Marina, and Address Al Marjan Island in Ras Al Khaimah. These communities feature a variety of apartments, villas, townhouses, and luxury residences.

Emaar continues to add to its portfolio with new launches. Among the recent projects are Selvara 3 and 4 within the Grand Polo Club & Resort, Montiva by Vida at Dubai Creek Harbour, Baystar by Vida at Rashid Yachts & Marina, Rosehill at Dubai Hills Estate, and Vida Residences Hillside also at Dubai Hills Estate. These developments highlight Emaar’s ongoing expansion in different segments of the Dubai property market.

The commercial and retail segment of the portfolio includes major centres such as The Dubai Mall and Dubai Hills Mall, the latter covering 2 million square feet with 750 stores since its opening in 2022. Emaar also manages other centres including Dubai Marina Mall, The Springs Souk, and Souk Al Bahar, all under the Emaar Malls umbrella.

Emaar’s hospitality and leisure operations are another core part of its portfolio. The company owns and manages well-known hotel brands such as Address Hotels + Resorts, Vida Hotels and Resorts, Armani Hotels & Resorts, and Rove Hotels. In leisure, Emaar has developed attractions such as Dubai Opera, Reel Cinemas, Dubai Ice Rink, KidZania, Dubai Aquarium, Sky Views Dubai, Arabian Ranches Golf Club, and yacht clubs.

Internationally, Emaar has established projects in several countries. In Turkey, the company developed the Tuscan Valley project, which has been completed and sold out, and Emaar Square, which integrates retail and hotel facilities. In Pakistan, it has invested in Crescent Bay in Karachi, a US$2.4 billion mixed-use oceanfront project with 50 towers and about 4,000 apartments, as well as Canyon Views in Islamabad. In India, Emaar has residential and commercial projects across Gurugram, Mohali, Lucknow, Jaipur, and Indore, and it has also been in discussions over a potential sale of its Indian business unit. Other international developments include projects in Saudi Arabia, Egypt, and the United States.

Emaar’s portfolio also includes iconic and special projects that go beyond traditional property developments. These include Opera Grand and Burj Vista, two high-rise residential towers in Downtown Dubai. In 2023, the company completed Il Primo Tower, a 79-storey residential supertall. Another key project is the Dubai Creek Tower, planned to be a record-setting observation tower; after a redesign, construction restarted in 2024.

Overall, Emaar Properties’ portfolio consists of a wide range of master-planned communities, new residential launches, retail and commercial assets, hospitality and leisure brands, international projects, and landmark architectural initiatives. These projects demonstrate Emaar’s broad presence across Dubai and other global markets.

Leadership

Mohamed Ali Rashed Alabbar | Chairman and Founder
Jamal Majid Khalfan Bin Thaniah | Vice-Chairman & Non-Executive Director
Ahmad Thani Rashed Al Matrooshi | Managing Director & Board Member
Amit Jain | Group Chief Executive Officer
Ahmad Al Falasi | Chief Operating Officer
Hesham Heikal | Chief Financial Officer
Ayman Hamdy | General Counsel & Corporate Secretary

References

Emaar Properties: Leading Real Estate Developer in Dubai, UAE | Emaar Properties
Emaar Properties | Wikipedia
Emaar India | Wikipedia
Emaar Properties – Dubai | Tanami Properties
Emaar Properties | Investing India
Emaar Properties | Investment Corporation of Dubai
Emaar Properties | Off Plan Dubai
Emaar Properties | Real Estate | Dubai Holding
Emaar Properties | Dubai Property Investment

Building No. 3, Sheikh Zayed Road, Emaar Business Park, Dubai, United Arab Emirates

Website https://www.emaar.com/

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