Emaar: Financial Dominance

UAE property giant, Emaar, has witnessed tremendous growth since its inception in 1997, posting record profits over the last three years.

Ranked 462 in the eleventh Financial Times Global 500, Emaar's market capitalisation as of June 30 this year was $19.6 billion (AED 72.2 billion).

The largest phase of the Dubai property boom has driven revenues sky high for Emaar, which has posted gross profits of $601 million in 2004, $1.3 billion in 2005 and close to $1.9 billion last year.

Net profit over the same period increased from $460 million in 2004 to $1.28 billion in 2005 and $1.73 billion as of December 31 last year.

Total assets of the company have been expanding exponentially over this period. In 2004 the company had $3.6 billion worth of assets. In 2005 that number had grown to $8.7 billion and by December 31 of last year, the total assets under control by Emaar was valued at $11.35 billion.

At present, the Dubai Government owns just under a third of the company (32%) with public shareholders taking the remaining 68%.
 

 

Print | Email | Discuss this article

| Share |

READERS' COMMENTS

Click here to post a comment

Add your Comment All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic. Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *	(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Enter the words above *
Please click post only once - your comment will not be published immediately.

MORE FROM ARABIANBUSINESS.COM