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Emaar Properties: Transforming Real Estate Around The World

Emaar Properties: Transforming Real Estate Around The World

Emaar Properties: Transforming Real Estate Around The World

Tasneem Khalil 01 Feb 2024

Emaar Properties is one of the giant names in real estate that reshape landscapes and create the skylines with major projects in Dubai, Egypt, Saudi Arabia, Morocco, Jordan, Bahrain, Pakistan, India, Turkey, and the United States. Emaar Properties was established in 1997 by Mohamed Alabbar and soon became a pioneer in integrated master-planned communities and upscale residential and commercial properties. The company reshaped how the UAE looked and now it has become a symbol of excellence with a listing on the Dubai Financial Market. The company delivered over 92,000 residential units worldwide since 2002. The numbers don’t only show scale but a commitment to quality living. 

Diversity is the cornerstone of Emaar's success story that doesn't only include one type of development. The company’s diversity helped it become a top entity not only in UAE but also in other parts of the world. Emaar works on residential units, mall management, entertainment, hospitality, and commercial leasing. The journey doesn't stop at delivering homes but extends to creating communities where every part of life finds expression.

As Emaar has a presence in 36 markets across the Middle East, North Africa, Asia, Europe, and North America, it is not just a local player; it's a global force. Emaar is now a parent company with six business segments and 60 active companies collectively shaping urban living and offering a unique blend of luxury, sustainability, and innovation.

Emaar’s Founder

Mohamed Alabbar was born on November 8, 1956, in Dubai, United Arab Emirates and is the eldest of 12 siblings. His date of birth marks the beginning of a story that would shape the landscape of Dubai and beyond. Mohamed Alabbar has a graduate degree in finance and business administration from Seattle University, and a doctorate from the same university. After graduation, Alabbar’s journey began with the Central Bank of the United Arab Emirates, where he had the role of a banking manager. This early experience laid the groundwork for his understanding of financial intricacies. In 1997, Mohamed Alabbar started a new chapter in his career by founding Emaar Properties. The collaboration between Alabbar and Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai, marked a significant transformation for Emaar. Together, they envisioned a Dubai that would not only be a global economic hub but also a center of tourism and growth. This marked the genesis of a real estate empire that would redefine urban landscapes globally. In December 2020, Mohamed Alabbar stepped down from his role as Emaar chairman. Despite this change, Alabbar stayed as managing director after Emaar Properties reported a profit drop of 48% during the pandemic.

Emaar Dubai 

Emaar's influence is deeply echoed through Dubai's skyline. It is the visionary company behind iconic projects like Burj Khalifa, the tallest building globally, and The Dubai Mall, the world's largest mall. These landmarks aren't just structures as they are symbols of the Emirate's prosperity and a proof of Emaar's commitment to pushing boundaries. 

Emaar Development, established in 2001, is the UAE arm of Emaar Properties, responsible for delivering iconic communities that redefine urban living. Emaar has left an undeniable mark on the city's landscape from the amazing skyscrapers of Downtown Dubai to the coastal elegance of Dubai Marina, and the beauty of Arabian Ranches.

Emaar Development's Masterpieces

Emaar Development holds the key to some of Dubai's most outstanding landmarks. Each development is a sample of luxury and quality. Some of Emaar Development's ongoing and upcoming masterpieces include:

  • Arabian Ranches Expansion: Over 1,400 additional units with a golf course and near the Dubai Polo & Equestrian Club.
  • Dubai Marina: Two waterfront residential and commercial towers complementing the newly-developed Vida serviced apartments tower.
  • Downtown Dubai: From Vida Dubai Mall to Downtown Views and Grande, these projects redefine luxury living in the heart of the city.
  • Emirates Living: A green-focused development featuring low-rise apartment buildings overlooking the Emirates Golf Club and a two-tower mixed-use development.
  • Emaar Beachfront: An exclusive residential community within Dubai Harbor, offering cosmopolitan living and a serene seaside lifestyle.
  • The Valley Garden: A gated community on Al Ain Road near the Outlet Mall, providing a sanctuary with world-class amenities, green parks, and a play area for kids.

Emaar’s Global Footprint

Emaar's influence stretches far beyond Dubai's borders. With projects in Pakistan, India, Jordan, Egypt, Lebanon, Morocco, the United States, Saudi Arabia, Syria, Iraqi Kurdistan, and Turkey, Emaar has become a global force in real estate development.

From the iconic Burj Khalifa in Dubai to the historic Bibliotheca Alexandrina in Egypt, Emaar Properties has left a mark on the global real estate landscape. Let's explore the transformative projects that define Emaar's international footprint.

Emaar Misr

In 2002, Emaar Misr, the Egyptian subsidiary, started with a monumental achievement by redeveloping the Bibliotheca Alexandrina. Emaar Misr's commitment to Egypt continued with the ambitious Uptown Cairo, a $4 billion development project initiated in 2005. This project seamlessly combines residential, commercial, and recreational spaces.

Along the picturesque Mediterranean coast, Emaar Misr introduced Marassi in Sidi Abdel Rahman in 2008. This tourist resort offers a luxurious hotel with 3,000 rooms, a marina, and a golf course. The commitment to innovation echoes in the development of Al-Alamein Hotel and Resort in the New Alamein city, announced in 2018.

Emaar India

Emaar India is a key player in the Indian real estate industry with a diverse portfolio covering residential, commercial, retail (malls), and hospitality sectors. The company holds a substantial land bank of 6,000 acres, strategically positioned for future developments. From the cityscape of Delhi NCR to the lively locales of Chennai and Jaipur, Emaar India's projects span the length and breadth of the country, promising excellence.

Emaar Saudi Arabia

Emaar, The Economic City (Emaar E.C.), has made its name in the Saudi Arabian landscape with the King Abdullah Economic City (KAEC). KAEC is listed on the Saudi stock exchange, Tadawul as the largest private investment in the kingdom. KAEC is located along the Red Sea coast and includes a special economic zone, a privately owned port, and the promise of accommodating approximately 2 million residents. Emaar E.C. leads economic growth beyond oil, creating a new era for Saudi Arabia.

Emaar Syria

In 2006, Emaar Properties revealed plans for a groundbreaking development project in Syria, known as The Eighth Gate. This visionary project consists of a commercial center, waterfront and residential zone, and a tourist area. The collaboration between Emaar Properties and IGO, an offshore investment and property development company, underscores a commitment to transforming urban landscapes.

Emaar Turkey

Emaar's presence in Turkey began with the Tuscan Valley development, featuring luxury villas and commercial spaces near Istanbul. The Emaar Square project, started in 2012, takes center stage with Turkey's largest shopping mall and five-star hotels. The Address Residences Emaar Square in Istanbul, launched in 2013, adds a touch of sophistication. The Emaar Square Mall in Turkey, opened in 2017, creates vibrant world-class destinations.

Emaar Pakistan

Emaar's footprint in Pakistan is outstanding, with projects like Crescent Bay in Karachi. This oceanfront project spans 108 acres and includes high and mid-rise towers, a shopping center, a five-star beachfront hotel, and a central tower. The Canyon Views project in Islamabad adds to Emaar's legacy in Pakistan, reflecting a commitment to redefine urban living.

Emaar Iraq

Downtown Erbil, launched in 2013, represents Emaar's vision for a large-scale mixed-use complex covering 541,000 square meters. This ambitious project in Iraqi Kurdistan includes residential apartments, hotels, and a shopping mall, promising to redefine Erbil's skyline.

Emaar Hospitality 

Not just confined to residences, Emaar's reach extends to hospitality and leisure through Emaar Hospitality Group. Emaar collaborated with Giorgio Armani for Emaar Hotels & Resorts to come to life in 2005, leading a new era of luxury accommodations. The Emaar Square Lifestyle Center in Istanbul stands tall as a testament to their global reach and influence, blending residential, retail, and amenity spaces seamlessly. Expanding into Nigeria and Bahrain in 2015, it has brought the same level of luxury and sophistication to hotels and residences around the world.

The Emaar Foundation

Emaar extended its reach beyond the skyscrapers and launched the Emaar Foundation in March 2015. Emaar Foundation's corporate social responsibility board member is Ahmad Al Matrooshi. The Executive Board Member at Emaar Properties PJSC serves as the Chairman. This board steers the foundation towards initiatives that echo Emaar's dedication to giving back to society.

This philanthropic arm was not just a gesture but a commitment to making a positive impact on the world. The foundation set its sights on supporting vital causes, collaborating with organizations like the United Nations' World Food Programme, Dubai Cares, and the Dream for Future Africa Foundation. Emaar's commitment to social responsibility isn't connected to a specific region. The company extends its support globally, partnering with the United Nations. This collaboration positions Emaar as a key contributor to the world's largest humanitarian agency fighting hunger.  Additionally, Emaar promotes autism awareness through various initiatives within Dubai. The company also plays a supportive role in Zayed University's campaigns, contributing to educational endeavors and societal well-being.

Emaar Properties, with its global ventures, continues to reshape skylines and redefine urban living experiences. As the journey continues, Emaar's commitment to excellence, innovation, and community development shines brightly across the continents.