Dubai, UAE, January 29, 2006: Emaar Properties PJSC, the world’s No. 1 real estate developer in terms of market capitalization, won an impressive three awards at the recent Euromoney Gulf Real Estate Awards for its contribution to property development. The awards are the second consecutive time Euromoney has recognized the region’s leading property developer.
Not only was Emaar voted ‘Best Overall Developer in the UAE’ as well as ‘Best Residential Developer in the UAE’, but Emaar’s Chairman, Mr. Mohamed Ali Alabbar received an ‘Outstanding Contribution Award’ in recognition of his work and foresight in the real estate sector. At a ceremony held in Dubai, Abdulla Lahej, Emaar’s Director of Construction, collected the three awards on behalf of Emaar.
Said Abdulla Lahej: “It is a great honour for Emaar to be recognized by industry insiders. The Euromoney awards confirm Emaar as the leading property developer in the UAE and acknowledges the breadth of our achievements which include residential, commercial and retail developments as well as creating lifestyle options never before available in the Middle East.”
“Under the leadership of Mr. Alabbar, Emaar has been a pioneer for the property industry in the UAE and has led the way in shaping Dubai into the modern international capital it is today. With a passion for improving peoples’ lives through high quality, innovative real estate, Emaar has played a significant part in reshaping the skyline of Dubai, encouraging investment and acting as a catalyst for Dubai’s property boom,” added Lahej.
The Euromoney awards, voted for by industry peers, amongst others, took into account factors such as sustainability and consistency in providing high quality, innovative and profitable real estate projects. Individual developments, both recently completed and those at the planning stage.
Emaar has been at the forefront of the property boom ever since its inception in 1997. It has witnessed tremendous growth and a rapidly expanding customer base which has seen the leading property developer deliver more than 12,800 homes and over one million sq. ft. of office space to date. Emaar constantly strives to create master planned communities for a growing Dubai population while creating new architectural benchmarks for global property developers.
With joint ventures and projects across the region covering Saudi Arabia, Egypt, Jordan, Morocco, Syria, India and Pakistan, Emaar is making new inroads into new markets. Earlier this year Emaar announced plans to aggressively expand the retail sector with investments of over AED 15 billion to develop approximately 100 malls in the mega emerging markets of the Middle East, North Africa and the Indian subcontinent. Additionally Emaar has a joint venture company with Giorgio Armani to build and manage 10 Armani hotels and resorts across the globe.
