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A landmark year for Dubai property firm with net profit of US$826 million

The Dubai based master-developer, Emaar Properties recorded a net operating profit of 3.034 billion AED (US$826 million) in 2010, an impressive increase of 31% on last year’s figures. Emaar is most famous for its flagship tower the Burj Khalifa, launched at the beginning of the year and its award-winning development, The Address on Dubai Marina, In what has been described as a landmark year for the company, Emaar handed over 3,500 completed properties in the UAE last year proving its commitment to project delivery.

The company’s Chairman Mr Mohamed Alabbar commented “In a year that was marked by cautious optimism, timely delivery of property and consolidation of core businesses, Emaar took bold initiatives that have a far-reaching potential in driving sustained returns for our stakeholders. Opening 2010 on a positive note with the grand inauguration of Burj Khalifa, Emaar highlighted the company’s ability to undertake and deliver complex projects to world-class standards.

“Dubai, having entered its next phase of growth under the visionary leadership of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President & Prime Minister and Ruler of Dubai, will continue to be a key market, where we will continue delivering a superior lifestyle experience to our customers. We see 2011 to be a signature year for Emaar with significant revenue streams from international operations kicking in.”

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