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Emaar reports 2011 net profit of AED 2.058 bln
The company’s annual revenue for 2011 reached AED 8.112 billion (US$ 2.209 billion). With The Dubai Mall, the flagship development of Emaar establishing itself as the world’s most visited shopping and tourism destination marking record visitor arrivals of 54 million in 2011, the shopping malls & retail business of Emaar contributed AED 2.14 billion (US$ 583 million) to annual revenues, representing 26 per cent of the total.
Meet the Agneepath team in Dubai
The trio will jet into town to promote their much-anticipated drama Agneepath, a remake of an Amitabh Bachchan classic. Apart from meeting their fans, the team will also address the press at Armani Hotel and attend an invites-only high tea. The film will release in the UAE on January 26.
Emaar Hospitality Group appoints Jurgen Baumhoff as Chief Operating Officer
Emaar Hospitality Group, the hospitality & leisure subsidiary of Emaar Properties, has announced the appointment of Mr Jurgen Baumhoff as Chief Operating Officer, responsible for leading the management team across all aspects of operations.
Celebrate the festive season in Dubai
From family-friendly events including fireworks at the Burj Khalifa, a world of shopping at Global Village, festive frolics at the Dubai Dolphinarium, and a taste of theatre with the classic tale of Peter Pan, to more grown-up events including concerts and New Year’s Eve parties, there are a whole host of reasons to celebrate this Festive Season in Dubai.
Mosque in Burj Khalifa an urban myth
According to some of the world’s most respected news sources, it is the crowning glory of the world’s tallest building: a mosque on the 158th floor of the Burj Khalifa, and the highest on Earth. The BBC reported it in a story on the opening of the Burj on January 4 last year: “The world’s highest mosque and swimming pool will meanwhile be located on the 158th and 76th floors.”
Live life Burj size: High life at a low price
Bassel Al Masri, Senior Sales Director at Ocean View Real Estate, said, “The maintenance fee at Burj Khalifa is Dh55 per sq ft. Owners are happy as long as the rentals cover service charges and their apartments get used. Leaving them unoccupied has its own problems.”
Realty market: Indians on top
A total of 2,181 Indians — UAE expats and those residing in India and in other countries — bought Dh3.70 billion worth of properties in Dubai, while 1,537 Britons invested Dh2.49 billion and 1,219 Iranians invested Dh1.9 billion in the city’s real estate market.
Tourism boom brings big rewards for Emaar
Emaar owns and manages a portfolio of assets such as the Address hotel brands, serviced residences, golf resorts and the Dubai Marina and yacht club. It also has an agreement with Armani to own and run its branded hotels.
Sizzle & fizzle
Suspended from the ceiling of an atrium, the shimmering cascade is intended to be a poetic evocation of the Burj Khalifa, the world’s tallest building, in Dubai. Since 18 minutes remained before the show’s official 6 p.m. opening, there was still time — theoretically, at least — to remove the lifts and install a pile of mirrored rocks designed to suggest the elaborate reflecting pools that surround the Burj in its desert homeland.
