Dubai, October 22, 2005: Emaar Properties PJSC, the world’s No 1 real estate developer in terms of market capitalisation, has been announced as a winner in the first Real Estate Awards announced by leading financial magazine Euromoney.
The award for Best Developer in the UAE was received by Dr Nader Mohamed, Executive Director of Emaar at a special ceremony held in London recently.
The award, voted for by industry peers was judged on the criteria of most consistent providers of high quality, profitable real estate projects as well as individual developments, both recently completed and those at the planning stage.
Real Estate is the latest industry to be recognized by the prestigious Euromoney Magazine which is now seen as a leading authority on International Banking and Capital Markets.
Dr Nader Mohamed said: “This is a special honour for Emaar, since our work has been recognised by our international industry peers. This award is a real achievement - a remarkable accolade given our relatively short history.”
Since its inception in 1997 Emaar has witnessed tremendous growth and a rapidly expanding tenant base. Having handed over 12,000 homes, Emaar constantly strives to create master planned communities for a growing Dubai population while creating new architectural benchmarks for global property developers. It is now the largest listed real estate developer in the world with a market capitalisation that exceeds USD 40 billion.
Emaar is also making inroads into new markets with joint ventures and projects across the region covering Saudi Arabia, Egypt, Jordan, Morocco, Syria, India and Pakistan. Additionally Emaar has a joint venture company with Giorgio Armani to build and manage 10 Armani hotels and resorts across the world.
Recently the award winning property developer announced plans to aggressively expand the retail sector with investments of over USD 4 billion to develop approximately 100 malls in the mega emerging markets of the Middle East, North Africa and the Indian subcontinent.
