Emaar Properties PJSC (EMAAR`B)

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News

3 March 2021 00:09 PM Emaar Properties, Emaar Malls planning merger

Dubai – Mubasher: Emaar Properties and Emaar Malls jointly announced that each of their boards of directors has voted to recommend an all-share merger to their respective shareholders. The proposed merger will reinforce Emaar Properties’ position …

Management Decisions

14 February 2021 03:03 PM Emaar Properties witnesses lower profits in 2020

Dubai – Mubasher: The net profits of Emaar Properties plunged to AED 2.617 billion in 2020, compared to AED 6.2 billion in 2019, as per the company's preliminary results of fiscal year 2020. The company's revenues recorded AED 19.71 billion last …

Real estate

10 February 2021 04:44 PM Emaar Malls registers 69% lower profits in 2020

Dubai – Mubasher: The net profits of Emaar Malls, majority-owned by Emaar Properties, slid by 69% to AED 704 million in 2020, compared to AED 2.286 billion in 2019. The company generated revenues of AED 3.508 billion in 2020, down 25% from AED …

Real estate

6 January 2021 11:19 AM Emaar Properties announces sale of Sky View hotel

Dubai – Mubasher: Emaar Properties announced the disposal of the entire stake of the subsidiary ASV Group Limited, owner of Sky View hotel, 169 Keys, and its operations. The real estate developer signed the hotel management agreement and will keep …

Real estate

13 December 2020 09:36 AM Emaar names Alabbar managing director; new chairman appointed

Dubai – Mubasher: The board of Emaar Properties has named, the company's Chairman and Founder, Mohamed Ali Alabbar, as the Managing Director of the company to focus on executive management matters. The board has taken this decision to comply with …

Board of Directors

7 December 2020 03:33 PM Emaar Properties suspends new projects amid property glut, COVID-19

Dubai – Mubasher: The Chairman of Emaar Properties, Mohamed Alabbar, has announced the suspension of new projects, as the property glut, coupled with the coronavirus (COVID-19) consequences, has cut about a third of the house prices in the past …

Management Decisions

18 November 2020 04:38 PM Emaar Properties receives AED 40.758bn from backlogs

Dubai – Mubasher: Emaar Properties has received AED 40.758 billion ($11.097 billion) from the sales of backlogs, the company's CEO, Amit Jain, announced on Wednesday. Jain referred that this amount will be registered as revenues over the upcoming …

Companies Investments

11 November 2020 03:28 PM Emaar Properties sees 48% lower profits in 9M

Dubai – Mubasher: The net profits of Emaar Properties declined by 48% to AED 2.44 billion in the first nine months of 2020, compared to AED 4.65 billion in the same period of 2019. The company has generated revenues of AED 13.37 billion in the …

Financial Results

7 October 2020 10:12 AM Emaar Properties comments on financial impact of land in Saudi Arabia

Dubai – Mubasher: Emaar Properties confirmed that cancelling the title deed of land in Saudi Arabia did not have any financial impact on the company, according to the company's disclosure to the Dubai Financial Market (DFM) on Wednesday. This …

Companies Investments

12 August 2020 03:14 PM Emaar Properties sees 35% lower net profits in H1-20

Dubai – Mubasher: The net profits of Emaar Properties plunged by 35% to AED 2.01 billion in the first half (H1) of 2020, compared to AED 3.11 billion in the corresponding period of 2019. The company generated revenues of AED 9.03 billion in the …

Financial Results

23 July 2020 00:15 PM Emaar cancels employees' job titles

Dubai – Mubasher: Emaar Properties has cancelled all job titles at the company and in employees' business identification cards, which will include only their names and department, founder and Chairman of Emaar Mohamed Alabbar announced. The …

Management Decisions

12 July 2020 00:55 PM S&P downgrades Emaar Properties' rating; outlook negative

Dubai – Mubasher: S&P Global Ratings has downgraded its rating for Emaar Properties and Emaar Malls to 'BB+' from 'BBB-' each, with a negative outlook due to the economic repercussion of the coronavirus (COVID-19) on Dubai's real estate sector. …

Ratings

22 June 2020 11:31 AM Emaar Properties permits interim dividend distributions

Dubai – Mubasher: The ordinary general meeting (OGM) of Emaar Properties has approved to add a new clause to the company's Articles that permits the distribution of interim dividends on a semi-annual or quarterly basis. During the meeting, the …

General Assembly

30 April 2020 02:00 PM Moody's affirms Emaar Properties' rating at 'Baa3'; changes outlook to negative

Dubai – Mubasher: Moody's Investors Service affirmed Emaar Properties' long-term issuer rating at 'Baa3' and changed the rating outlook from stable to negative. Moody's affirmed 'Baa3' ratings on the two Sukuk issuances due in 2026 and 2029, …

Ratings

6 April 2020 01:04 PM Emaar Properties cuts salaries of board members, employees

Dubai – Mubasher: Emaar Properties has decided to cut the salaries of the board by a range from 30% to 100% due to the precautionary measures against the coronavirus (COVID-19) pandemic. The salary reduction has been effective since the beginning …

Corporate Actions

6 April 2020 11:27 AM Tabreed signs AED 2.48bn deal to acquire district cooling system

Dubai – Mubasher: The National Central Cooling Company (Tabreed) has inked an agreement with Emaar Properties to acquire 80% of Emaar's Downtown Dubai district cooling system at a value of AED 2.48 billion ($675 million). Through this long-term …

Real estate

12 March 2020 11:38 AM Emaar Properties temporarily suspends bookings in 3 hotels on coronavirus fears

Dubai – Mubasher: Emaar Properties confirmed the news about the temporary suspension of bookings in three of its hotels amid rising concerns over the spread of the novel coronavirus (COVID-19).   The company’s subsidiary Emaar Hospitality Group …

Real estate

12 February 2020 05:06 PM Emaar Properties sees 1% higher profits in 2019

Dubai – Mubasher: Emaar Properties’ net profits grew by 1% to AED 6.200 billion ($1.688 billion) in fiscal year 2019 from AED 6.139 billion ($1.671 billion) in 2018, according to the company’s preliminary unaudited financial results for 2019. The …

Financial Results

26 January 2020 06:13 PM China’s Fidu sees 289% YoY jump in Emaar’s projects sales

Dubai – Mubasher: Fidu Properties, one of the leading UAE-based Chinese developers, recorded a 289% year-to-year (YoY) surge in the sales of projects by Emaar Properties in the UAE during 2019. Fidu Properties saw a 172% jump in real estate deals …

Companies Investments

24 January 2020 05:15 PM Emirates Airlines, Emaar named best brands in UAE for 2019

UAE – Mubasher: Emirates Airlines and Emaar have topped the YouGov Brand Index as the best and most reliable brands in the UAE during 2019. The two brands scored 84.5 and 80.5 points, respectively, in the overall ranking, according to a statement …

Companies Investments

21 January 2020 05:20 PM Emaar Properties partners with Xiaomi to develop smart homes

Dubai – Mubasher: Emaar Properties has signed an agreement with the Chinese Xiaomi, which has the largest Internet of Things (IoT) consumer platform, to launch Emaar Smart Home. Under the agreement, Emaar Smart Home, which will offer the latest …

Companies Investments

14 November 2019 11:43 AM Emaar Development logs AED 2bn profit in 9M

Dubai – Mubasher: Emaar Development on Thursday announced a significant increase in its net profit at AED 2.070 billion ($564 million) and revenue of AED 9.625 billion ($2.62 billion) over the period from January to September in 2019. Sales …

Financial Results

5 November 2019 11:43 AM Emaar Misr’s profit drops 64% in 9M

Cairo – Mubasher: Emaar Misr for Development, an Egyptian unit of the Dubai-based real estate firm Emaar Properties, reported a 64.2% year-on-year profit retreat during the first nine months of 2019, according to the company’s consolidated …

Financial Results

17 October 2019 03:57 PM Emaar to launch blockchain-based loyalty platform end-2019

Dubai – Mubasher: Emaar, the Dubai-based property developer, announced that it will launch EMR, a new blockchain-based referral and loyalty platform, by the end of 2019. The new platform will reward customers of the global real estate firm with …

Real estate

3 October 2019 05:13 PM Emaar Misr, El Nasr Housing reach EGP 100m settlement deal

Cairo – Mubasher: El Nasr Housing and Development, a subsidiary of the Egyptian Ministry of Public Enterprise, has signed a settlement agreement with Emaar Misr for Development to end a dispute regarding a project located in Mokattam. Under the …

Real estate