Emaar Properties PJSC will hold its 13th Annual General Meeting on Monday, March 28, 2011, at 5pm at the Constellation Ballroom of The Address Dubai Marina. The AGM will discuss and approve the report of the Board of Directors on the activities and financial position of the company and the company’s balance sheet.
The AGM will also discuss the appointment of the Auditors for 2011.
In 2010, Emaar recorded a net operating profit of Dhs3.034bn ($826m), 31 percent higher than the net operating profit of Dhs2.324bn ($633m) recorded in 2009. Annual revenue for 2010 was Dhs12.150bn ($3.308bn), 44% higher than the 2009 revenues of Dhs8.413bn ($2.29bn).
The company’s shopping malls & retail and hospitality subsidiaries contributed significantly to the revenues for the year, highlighting the successful creation of recurring revenue streams for Emaar. Approximately 24 percent of the total revenues were from these two business segments with shopping malls & retail revenues of Dhs1.9bn ($517m), and hospitality revenues of approximately Dhs1bn ($272m).
Emaar Properties will continue to focus on its strategy of creating prime real estate assets, and strengthening its shopping malls & retail and hospitality & leisure businesses in 2011, which is expected to be a signature year as international operations contribute significantly to the revenue stream.
The developer of Burj Khalifa, the world’s tallest building, Emaar is the pioneer of master-planned communities in Dubai, and today, has a strong geographic presence in key emerging markets in the Middle East and North Africa region, the Indian Subcontinent and South Asia. Last year, Emaar handed over 3,500 units in the UAE and internationally.