Amlak Finance
Originally established in 2000, Amlak was the first to offer mortgages in the UAE. Amlak Finance proved highly popular with Dubai-based investors when its' 2004 Initial Public Offering (IPO) of AED412.5 million (US$112 million) was 33 times oversubscribed on the Dubai Financial Market.
By converting to Islamic status at the time of the IPO, Amlak has been able to tap into growing pools of liquid Gulf Cooperation Council-based funds seeking to invest in the real estate sector. Amlak has ample scope for growth with a residential property market expected to be worth around AED23 billion (US$6.25 billion) in 2008 .
The company was conceived to provide longer-term financing to Emaar customers, unable to meet more traditional short term payment schedules. Dubai's dynamic property market has proved the ideal environment to achieve its objective of becoming the leading mortgage financing player in the Region.
Islamic mortgages appeal to local house-buyers and investors. However, non-Muslim customers are treated as equals and can seek alternative life insurance cover. Twenty-five year mortgages are available to UAE nationals, while non-UAE nationals may obtain financing up to 15 years.
Although Amlak naturally complements Emaar's business by providing prospective homeowners with long-term financing, it will provide mortgages to a wide range of developers. The company is currently located in Dubai with offices planned throughout the Gulf.
For further information please visit www.amlakfinance.com
Dubai Bank
Dubai Bank was established in September 2002 to offer top-tier service and innovation, in Dubai's competitive retail banking marketplace. It was also set up to assist the financing requirements of Amlak Finance - Emaar's mortgage arm. Provision of corporate finance services is also planned.
Dubai Bank's services are particularly targeted to the banking needs of the young professional segment of the market. Dubai Bank is committed to fulfilling its responsibilities as a bearer of the city's name. Currently Dubai Bank has branches in the U.A.E. at the Dubai World Trade Centre as well as Jebel Ali and in Abu Dhabi.
Dubai Bank acts as an important investment channel for Emaar Group resources, while actively diversifying the sources of its' revenues. The venture is expected to improve dividend streams for Emaar shareholders as Emaar actively pursues expansion in its core business of innovative, high quality real estate development.
For further information please visit www.dubaibank.ae
Emrill Services LLC
Emrill Services LLC is a joint venture between Emaar Properties PJSC, the region's premier property developer and Carillion PLC, a leading UK-based provider of facilities and property management services. The company was established in 2002 with a view to delivering Facilities Management services across Emaar's developments and eventually to customers throughout Dubai and the wider Gulf region.
Integrated Facilities Management delivers a seamless solution to customer focused service provision. Emrill takes complete responsibility for a wide range of non-core services including the traditional hard services of mechanical, electrical, plumbing and air-conditioning maintenance. These are bundled together with custodial services of cleaning, security, pest control and waste management into one service delivery offering.
Emrill maintains and operates comprehensive Facilities, Asset and Maintenance Management systems with the ability to achieve:
- Significant cost saving resulting in less downtime through effective planned maintenance.
- Improved plant efficiency ensuring consistent quality with less wastage or re-work.
- Comprehensive fault service and monitoring history essential for planning maintenance activities.
- Advanced inspection and test systems, making compliance with safety regulations and legislation easier.
- Work control system giving comprehensive details on costing.
- Instantly accessible and comprehensive asset register.
Emrill also operates a 24/7 Facilities Management Call Centre that has been designed to log, monitor and report incidents relating to any aspects of the physical assets of an organization with maximum speed and with comprehensive back up tools and information.
For further information please visit www.emrill.com
Emaar Industries and Investments
Emaar Industries and Investments is a company of unique vision. In our quest to become a global brand in manufacturing investment, we identify partners that have the potential to become leaders in their fields, and provide the means for unlocking their true value.
Whether capitalization, skills or access to our extensive network, or a combination of the three, Emaar Industries and Investments acts as a catalyst to building a brighter future together.
For further information please visit www.eii.ae
